The Paris Bourse gained 0.4% this morning, around 7360 points, driven in particular by URW (+2%) and STMicro (+1.3%).

Investors have just taken note of the HCOB composite PMI index for the eurozone. This rose from 46.5 in October (a 35-month low) to 47.6 in November (its highest level since last July), but continues to signal a sharp contraction in overall activity in the eurozone.
In fact, activity declined in all four of the eurozone's leading economies in November.

In France, the PMI HCOB index came in at 44.6 in November (revised from a flash estimate of 44.5), stable on October, signalling a further sharp contraction in private sector activity.

On the other hand, the UK services PMI stood at 50.9 last month, higher than its first estimate published on November 23 (50.5) and up 1.4 points on October (49.5).

It thus passed the fateful 50-point mark that distinguishes between growth and contraction in activity.

The markets are now focused on the eagerly awaited monthly employment report, due for release on Friday.

On the bond market, 10-year T-Bonds are trading at around 4.24%.

The 10-year German Bund, the euro zone's benchmark rate, is easing to 2.30%, as investors seek refuge in bonds in view of the economic slowdown taking shape on the Old Continent.

On the foreign exchange market, the euro and dollar are stable at around $1.084/euro.

Finally, Brent crude is up 0.7% at around $78.8 a barrel, while gold is down 2% at around $2030 an ounce.

In French company news, the European Court of Justice has ruled in Engie's favor, overturning a decision by the European Commission. The latter denounced a tax arrangement between the group and Luxembourg, and ordered Engie to pay the duchy the sum of 120 million euros. According to the Court of Justice, the Commission had 'infringed Union law'.

This morning, Engie announces the inauguration of Europe's 1st green hydrogen production and distribution station at Toulouse-Blagnac airport.

TotalEnergies announces the signature of three cooperation agreements with Petrobras, SOCAR and Sonangol to deploy methane emission detection and measurement campaigns using AUSEA technology on oil and gas installations in Brazil, Azerbaijan and Angola respectively.

Renault do Brasil announces an investment of 350 million euros for the production of a new C-segment SUV on the group's new modular platform, such as the Kardian, a new vehicle that will feature a hybrid engine.

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