CAC40: up before a series of indicators

(CercleFinance.com) - The Paris stock market gained 0.
7% this morning, around the 7,270 pts mark, driven in particular by Kering (+2.5%), Eurofins Scientific (+2.2%) and TotalEnergies (+2.1%).

Investors are awaiting a series of indicators which should enable them to assess the current economic situation, especially in Europe, as well as future developments in the ECB's monetary policy.

European markets have recently been penalized by concerns over the dynamism of activity, and the announcement of the latest growth figures for the euro zone should do little to reassure them.

According to the first estimate - which should be confirmed today by Eurostat - the region's GDP had risen by 0.4% in the third quarter, thanks to the effect of the JOs in France and a catch-up in consumption in Germany, two phenomena which are unlikely to last.

Given the weak performances of France and especially Germany, industrial production is expected to fall by 1.3% in September, according to the consensus.

As for the minutes of the ECB's latest meeting, they are likely to record lower-than-expected inflation and downside risks to activity, without however showing that a 50bp rate cut by the institution in December constitutes the central scenario for activity.

Following yesterday's US consumer price figures, which were in line with expectations, the market is awaiting data on producer prices in the USA, which should show a slight upturn in inflation.

In the bond compartment, 10-year T-Bonds edged up 2pts to 4.47%, while the German Bund of the same maturity is stable at 2.39%.

In French company news, Thales presents new objectives for the period 2024-28, including average annual organic growth (AAGR) in sales of +5-7%, 'driven by generalized growth in all its activities'.

Technip Energies reports that, in partnership with SBM Offshore, it has won a contract described as 'major' from TotalEnergies for the GranMorgu floating production, storage and offloading (FPSO) unit in Suriname.

Schneider Electric is to increase its stake in Planon so as to hold an 80% majority share in the French developer of management software for intelligent buildings, the latter announced on Thursday.


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