The Paris Bourse is down -0.2%, and the CAC40 is trying to balance itself out around 7,620 points.
This slight downturn is taking place in anecdotal volumes (1.4 billion euros in over 8 hours of trading), despite the dynamic performance of the automotive sector, with +2.5% for Renault and +2% for Stellantis.
In reality, the CAC40 was weighed down by a single stock that accounted for 100% of the day's decline: Total-Energies is down -3%, despite a strong set of results and a 7% dividend increase.
On Wall Street, the S&P500 missed the symbolic 5,000-pt mark by 5pts (0.1%), peaking at 4,995: the index gained 0.8% at the time, and is currently hovering around 4,985pts.
The Nasdaq (+0.9%) set a new annual record at 15,750pts, while the Dow Jones (+0.5% at 38.700Pts) is on course for its best-ever close, with a margin of 100Pts, which could prove sufficient.

In addition, the 'VIX', the stress barometer associated with the 'S&P', falls back into the 'complacent' zone below 13 (around 12.9): rarely have managers been so poorly covered on share prices flirting with absolute records.
On the statistics front, the US trade deficit widened slightly to $62.2 billion in December 2023, compared with the previous month's $61.9 billion (which was revised from an initial estimate of $63.2 billion), according to the Commerce Department.

This 0.5% month-on-month increase in the deficit reflects a roughly parallel rise in US imports of goods and services, up 1.3% to $320.4 billion, and exports, up 1.5% to $258.2 billion.

In Europe, German industrial production fell much more sharply than expected in December (-1.6%), according to official statistics published on Wednesday, confirming the current downturn in Europe's leading economy: this is the sixth consecutive month of decline.

On the bond market, yields on US Treasuries continued their decline of the previous day, while the timetable for future rate cuts remains highly uncertain.

The yield on Treasuries stabilized at 4.0950%, while the benchmark yield in the Eurozone, the German Bund, posted +1.3Pt at 2.294%, and the same was true of our OATs at 2.81%.

The oil market remains robust: EIA figures show that weekly US crude oil inventories stood at 427.4 million barrels for the week ending January 29, up 5.5 million barrels on the previous week.

Inventories of distillates - including heating oil - fell by 3.2 million barrels, while gasoline stocks were down 3.1 million barrels on the previous week, the agency continued.

Finally, the EIA states that refineries operated at 82.4% of their operational capacity during the same week, with average production of 9 million barrels/day.
The price of Brent crude oil climbed +0.2% to $78.9 a barrel, while WTI gained 0.2% to $73.5 on the NYMEX.

In French company news, TotalEnergies reports adjusted net income for fiscal 2023 down 36% to $23.2 billion, or $9.40 per share (-33%), and adjusted EBITDA down 30% to $50 billion.

In addition, TotalEnergies and its partners announced the start-up of production from the Akpo West field on block PML2 (in which the French group is operator with a 24% interest), located 135 kilometers off the coast of Nigeria.

Amundi reports a 3.9% increase in adjusted net income to €1.22 billion for 2023, reflecting a 2.1% increase in adjusted net revenues to €3.2 billion, with adjusted expenses rising at the same rate to €1.71 billion.



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