Paris: continues to climb above 7800 pts
The index was buoyed this morning by Schneider Electric (+2.7%), Dassault Systèmes (+2.5%) and Bouygues (+2.2%).
The optimism generated by Donald Trump's return to the White House has also revitalized Wall Street, which yesterday returned to its December highs.
While investors are betting heavily on the tax cuts and deregulation measures promised by the new president, a certain vagueness continues to surround the concrete implementation of his trade policy.
Clarity on this point is still rather difficult to grasp", laments Michael Brown, strategist at Pepperstone, while pointing out that the worst-case scenario, namely the imposition of so-called "universal" tariffs, seems to be out of the question for the time being.
Nevertheless, the 'Trumponomics' and the real estate magnate's decisions on trade policy will be decisive for market developments over the coming months.
Should his announcements prove more onerous than expected, the ensuing volatility could well create turmoil in the financial markets.
The new administration, however, has every interest in fuelling the upward trajectory of the equity markets, especially as Trump has made the Dow's performance his own yardstick of success", says Michael Brown at Pepperstone.
In this respect, the wave of quarterly corporate results expected in the days and weeks ahead should undoubtedly dictate the trend on Wall Street.
While the major US banks published rather encouraging results last week, the markets are awaiting the rest of the program in order to assess the health of S&P 500 companies.
Last night, Netflix reported its best-ever quarter in terms of subscribers and expressed its intention to continue its price increases, which earned it gains of over 14% in pre-market trading.
Among the results expected today, those of other large, more traditional groups, including Johnson & Johnson and Procter & Gamble, will give a clearer picture of the state of the economy.
Investors are counting above all on the results of technology heavyweights such as Apple, Meta and Microsoft - expected next week - to revive the sector's bullish machine.
On the bond front, the yield on the ten-year German Bund eased marginally to 2.47%, while the yield on the OAT with the same maturity fell by 2.5 basis points to 3.24%, pushing the France/Germany spread back below 80 points.
Donald Trump's uncertainty on trade issues also eased the bond market, with the yield on 10-year Treasuries dropping five basis points to 4.56%.
After its recent rebound back above $1.04, the euro stabilized this morning in the 1.043 zone against the greenback.
On the oil front, Brent crude resumed its upward trend, reaching $79.7 a barrel (+0.5%).
In news from French companies, Sanofi reports that the European Commission has approved its Sarclisa in combination with the VRd reference regimen, for the treatment of newly diagnosed multiple myeloma (MMND) in adults ineligible for autologous stem cell transplantation.
AXA IM Prime, via its GP Stake strategy, and Patria Investments, via its Global Private Market Solutions (Patria GMPS) strategy, announce an agreement to each acquire a stake of around 15% in Latour Capital.
Finally, Accor announces that it has joined the technological alliance sealed two years ago between Pernod Ricard and JCDecaux for data management. The three companies will continue to develop the Data Portal, initially developed by Pernod Ricard since 2015.
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