The Paris Bourse (+0.15%) is trying to climb towards 7,950Pts, ignoring the heaviness of the luxury sector (with -1.8% for Kering, -1% for Hermès and LVMH) thanks to +2% for BNP-Paribas and +1.6% for Airbus
The CAC40 continues to lose ground on the Euro-Stoxx50 (+0.3%), which on March 4 smashed a new all-time record above 4,910Pts.910Pts, recording another session of gains (the 10th in 14 sessions, with no declines of more than -0.17%).
The DAX40 (-0.1% at 17,715) still has a small chance of setting a 9th session high, and therefore a 9th consecutive record close (it's never happened... and neither have 8 records in a row, for that matter).
Pari also seems to be held back by the initial downturn in the US indices (-0.1% to -0.2%, gaps completely frozen for 90 minutes), which are catching their breath after Friday's record highs and an 18th week of gains.
These losses could well be wiped out by 10 p.m... and the Nikkei (+0.5%) was leading the way this morning with a new 35-year all-time high (above 40,300pts).

Today's action remains limited in Europe ahead of an intense week, which will mainly be marked by US employment figures and the European Central Bank (ECB) monetary meeting.

Market operators are especially looking forward to Thursday's monetary policy meeting of the European Central Bank (ECB), at the end of which a "status quo" is widely expected.

Its Governing Council is likely to continue to be vigilant about the disinflation process at work on the Old Continent, and to postpone the debate on the first rate cuts.

Friday's publication of a less pronounced than expected slowdown in inflation in the eurozone in February eased the pressure on the central bank's shoulders somewhat.

According to Alexandre Baradez, Head of Market Analysis at IG France

, "It is above all the pressure on wages that is preventing the monetary institution from cutting rates". "But it would be surprising if a first cut did not occur in the second quarter, perhaps not at the April meeting, but probably more at the June meeting", he adds.

The week ahead will also see Fed Chairman Jerome Powell address the House Financial Services Committee on Wednesday.

Investors are also likely to err on the side of caution ahead of Friday's release of monthly US employment figures, perhaps the highlight of the week.

Given the strength of the U.S. labor market in recent months, the Labor Department's figures could influence market expectations regarding the Federal Reserve's monetary policy, which meets in two weeks' time.

The consensus is for an average of 200,000 new jobs in February, following January's fireworks display of 353,000.000 new jobs, i.e. double the market forecast.

Investors will also continue to keep an eye on political news in the United States, with tomorrow's primaries in some fifteen states, a crucial day known as 'Super Tuesday'.

'Biden and Trump are expected to win by a wide margin in their respective camps', Oddo BHF's teams pointed out this morning. Barring a twist of fate, these will be the candidates on November 5", the private bank points out.

Bond markets are moving in mixed order, with -3Pts on our OATs (2.8700%) and Bunds, but +4.2Pts on T-Bonds at 4.2210%.

The dollar is down -0.2% at 1.0860/E, oil continues to defy resistance at $83.7 in London, but stalls below $79.5 in New York.
The ounce of gold is heading for a record close at 2.100/Oz (the second crossing of the $2,100 mark in history, after December 4, 2023): the $2.075/2.08 mark appears to be validated... a bullish surge to keep an eye on, and potentially linked to a geopolitical situation that is becoming tenser by the day between NATO and Russia, Israel and Lebanon (which the markets have been ignoring since December).

In the news from French companies, Carrefour announces that it has entrusted an investment services provider (ISP) with a mandate to buy back shares over a period starting March 4, in accordance with the program for a maximum of 700 million euros announced alongside its annual results.

Saint-Gobain announces that it has signed an agreement to sell its treated wood products business (posts, fences, railings) in Ireland (PDM) and the UK (Calders & Grandidge) to the Iivari Mononen group.

TotalEnergies announces that it has laid the foundations for cooperation with Bapco Energies, the national company in charge of Bahrain's energy transition, to optimize the Sitra refinery and trade in its petroleum products.

Veolia announces the finalization of the sale of SADE-CGTH, its 100% subsidiary specializing in the construction and rehabilitation of water and infrastructure networks, to the public works group NGE, for an enterprise value of 260 million euros.

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