After a low shortly after the opening, followed by a +0.4% rise this lunchtime (to 7,660), the Paris Bourse is back in the red (-0.5% to 7,585), despite the rise of Safran (+1.8%), as the index is penalized by the plunge of Edenred (-11%) and Thales (-8%), followed by Stellantis and Bouygues (-2%).
The Euro-Stoxx50 is up by more than 0.3%, but this is a "trompe l'oeil", as declining stocks dominate (particularly those on the CAC), as SAP, with its +7%, is single-handedly turning the trend into the green.

Wall Street has just reopened on a hesitant note, with the S&P500 and Nasdaq up +0.2% and the Dow Jones down -0.1%.

While the news of the last few days has been marked by the withdrawal of President Biden and the emergence of a candidacy for his vice-president, Kamala Harris (she has officially collected enough votes from her party to face Trump), economic and microeconomic concerns are once again taking center stage: what will growth be like in the second quarter, both in the US and in Europe, is inflation under control, and what will earnings be like in the 3rd quarter?
As has been the case for the past 15 years, the 2nd quarter's results are better than expected: 80% of companies have announced results above expectations, compared with a ten-year average of 74%.

Publications from Coca-Cola, GE Aerospace, GM and Spotify seem to be particularly popular with investors.

On the bond market, yields on US Treasuries reacted well to the weekend's political events, with ten-year paper at 4.23% remaining virtually unchanged at 3.12% (-1.3Pt).

Tuesday's session promises to be quiet on the macroeconomic front, with the only statistic of the day being US old home sales, due to be released in the afternoon.

In the news for French companies, Thales reported adjusted net income (group share) for the first half of 2024 up 6% to €866 million, and EBIT up 10.4% to nearly €1.1 billion (+4.7% organic), representing a margin improvement of 0.2 points to 11.5%.

Interparfums (+17%) posted sales growth of almost 16% to 209.9 million euros for the second quarter of 2024, taking the total for the first six months of the year to 422.6 million (+7% at constant exchange rates).

Finally, Airbus, Air France-KLM, Associated Energy Group, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital and Qantas Airways announce that they have co-invested in a fund to finance sustainable aviation fuel (SAF).

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