CAC40: slight uptrend at the start of the week

(CercleFinance.com) - The Paris stock exchange ended the first session of the week with a gain of 0.
22%, at 8040 points, driven by Teleperformance (+3.2%), Edenred (+2.7%) and URW (+2.2%).

The week ahead will be marked by the US earnings season, with results from tech titans such as Microsoft, Meta Platforms and Alphabet, which could offer a second wind to the markets.

We believe that the recent risk-averse backdrop and correction in tech stocks represents a clear buying opportunity ahead of the upcoming results", says Dan Ives, analyst at Wedbush Securities.

As a reminder, last week, Netflix published figures that were broadly in line with expectations, but this did not prevent the share price from dropping 9% after soaring in recent months.

Beyond the results, investors will continue to monitor inflation with the release, on Friday, of the PCE index in the United States, the Fed's preferred indicator of price dynamics.

Before that, the publication - on Thursday - of the first US gross domestic product (GDP) figures for the first quarter will be closely watched.

The consensus forecast is for a slight slowdown in growth, to 2.9%, following the 3.4% recorded in the fourth quarter.

Meanwhile, US yields are still flirting with the worst levels of the year, even if the '10 yr' is doing better than this morning (+1.5Pt to 4.6300% vs. 4.655% at midday), with the '30 yr' gaining +2Pts to 4.73%.

An easing is taking shape in Europe, with the Bund at 2.5300% (+2.5pts) this morning, back below 2.500%, and our OATs, which reached 3.05%, easing by -2.5pts to 2.900%.

The easing of tensions between Israel and Iran is weighing on Gold (-2.2% to $2,336) and Silver (-4% to $27.5/Oz).
Brent crude oil is also consolidating, down -0.6% to $86.9, while WTI is down -0.8% to $81.5 on the NYMEX.
The Euro/Dollar exchange rate is little changed, with the dollar gaining 0.1% (Euro at $1.0645).

In French company news, TotalEnergies announces the final investment decision for the Marsa LNG project, in which it holds an 80% stake alongside the Omani national oil company OQ (20%).

Technip Energies reports that it has won a "substantial" contract (between 500 and 1000 ME) for the development of this project.

Nexans reports that it has signed a four-year emergency preparedness and response contract with Equinor, covering turnkey repairs to various cable systems with a total length of almost 3,000 km.

STMicroelectronics announced on Monday that it had extended its silicon carbide (SiC) wafer supply agreement with SiCrystal, a subsidiary of the German industrial group Rohm.

Copyright (c) 2024 CercleFinance.com. All rights reserved.