The Paris Bourse ended the session with a 0.2% gain, at 8225 points (a new closing record). With a 3.8% gain, Société Générale was the CAC's biggest daily gainer, ahead of Veolia and Stellantis (+2.1% each).

On the statistics front, the US Producer Price Index (PPI) rose by 0.5% on a reported basis and by 0.4% excluding food (against an expected stability), energy and commercial services, in April compared with the previous month.

Over the last twelve months, producer prices rose by 2.2% on a reported basis (vs. 1.8% in March) and by 3.1% excluding food (vs. 2.8% in March).

These data are unlikely to encourage the Fed to ease monetary policy.

In Europe, inflation in Germany came in at +2.2% (stable) and the ZEW index of German investor sentiment rose 4.2 points on April to stand at +47.1, confirming that economic conditions are gradually improving in Europe's leading economy.

On the bond front, 10-year T-bonds are trading at around 4.47%. In Europe, Bunds of the same maturity are up +3.2pts to 2.532%, with our OATs following suit at +3.3pts to 3.045%.

The widening yield spread on US/EU Treasuries is weighing on the Dollar, which is down -0.3% at $1.0820/E.

In French company news, Dassault Systèmes has announced a five-year extension of its long-term strategic partnership with JLR (Jaguar Land Rover), with the deployment of its 3DEXPERIENCE platform across all the British automaker's automotive programs.

Veolia announces that it has won, via its subsidiary SIDEM, a $320 million contract to design and supply key technology for the Hassyan seawater desalination plant in Dubai, United Arab Emirates.

UBS has announced that it is maintaining its 'neutral' recommendation on Crédit Agricole, while raising its target price for the stock from 13.9 to 15.6 euros, a new target broadly in line with the French bank's latest share price.

Finally, Schneider Electric announces the signature of a strategic agreement with ProLogium, a Taiwanese battery manufacturer, to develop intelligent manufacturing and energy management systems at ProLogium's future gigafactory in Dunkirk.

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