CAC40: gives up most of its gains at the end of the session

(CercleFinance.com) - After gaining up to 1.
2% at mid-session, the Paris Bourse saw its gains eroded in the second half of the session, ending the day with a modest 0.2% gain to 7,423 pts, supported in particular by Michelin (+2.7%) and the banks (+2.3% for Société Générale and +2% for BNP Paribas).

Across the Atlantic, caution prevailed and movements were limited, with -0.2% for the Nasdaq, -0.1% for the S&P500 and +0.1% for the Dow Jones.
However, things are not getting any better on the US long yield front, with new "highs": the "10 yr" is +2pts at 4.80%, the "30 yr" +1.5pts at 4.9920%.

On the statistics front, the Labor Department reports that US producer prices rose by 0.2% in December compared with the previous month, and by 0.1% excluding food, energy and commercial services (in line with the most optimistic forecasts).

Expressed as an annual variation, the rise in producer prices accelerated last month compared to November (+0.3 points to 3.3%) in unadjusted data, but slowed (-0.2 points to 3.3%) excluding food, energy and commercial services (a score of +3.5% was expected).

Investors may seek reassurance from reports circulating across the Atlantic that Trump's teams are preparing a "progressive imposition plan" for tariffs.

As a reminder, this issue has preoccupied markets since the Republican's election, raising fears of the return of a trade war that would impact, among others, European exporting companies.

While we wait to find out more - Trump will be inaugurated on January 20 - the markets will take note tomorrow of the US consumer price figures, which could give an indication of the Fed's interest rate trajectory.

In Europe, there were no major figures, but nothing good on the rates front: ten-year Bunds gained +3pts to 2.622%, while French OATs added +1.6pts to 3.4730, narrowing the France/Germany spread to 85pts.

On the currency front, the euro stagnated against the greenback at around $1.027/EUR.

In French company news, Renault Group announces the signing of a framework agreement between its Mobilize brand and Free To X, Autostrade per l'Italia's fast-charging subsidiary, to develop fast-charging infrastructures in Italy.

On Tuesday, Worldline announced that it had extended its existing partnership with Belgian banking group KBC, to which it will continue to supply its card-issuing services.

Finally, Quadient reports that it has been selected by a US government agency to modernize its mail automation infrastructure under a contract worth around $1.6 million.

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