CAC40: flirts with 8000 pts before several statistics

(CercleFinance.com) - The Paris stock market is hovering around 8,000 points this morning (+0.
1%), divided between gains by L'Oréal (+1.7%) and Teleperformance (+1%) and declines by STMicro (-2.3%) and Pernod Ricard (-1.6%).

Last night, Wall Street finished in mixed order, with the S&P500 up 0.5%, the Nasdaq up 1.2% - buoyed by cheap buybacks of Tesla (+7.6%), Palantir (+7.2%) and Nvidia (+6.5%) - but the Dow Jones down 0.2%.

The health of the US economy will now be the driving force behind the equity markets, as investors want to believe that the US will manage to escape a recession that is becoming increasingly threatening.

' US inflation slowed in February, and that was no foregone conclusion", Christopher Dembik, Senior Investment Adviser at Pictet AM, pointed out this morning.

Those who were predicting an American recession or even an inflationary crisis at the start of the week have had to think again. The sad reality for the prophets of doom is that the US economy is still resilient", he believes.

Investors will now be focusing on the few indicators expected over the course of the session. The Producer Price Index (PPI), due at 2:30 p.m. on the other side of the Atlantic, will be a key date for the markets, as positive figures are likely to prompt the Fed to cut rates at a more pronounced pace than expected.

Also due at 2:30 p.m., weekly jobless claims will provide an insight into the labor market, and even the impact of Elon Musk's job cuts in the civil service.

In the eurozone, monthly industrial production statistics will be published at 11:00 a.m., and the consensus forecast is for a 0.6% month-on-month rebound in January.

While waiting for US equity markets to find new support, the "rally" that has developed in recent months on European markets could become more restrained.

Some analysts are warning of a possible pullback, given that most of the Old Continent's main indices recently hit all-time highs.

"Even if European equities are in Olympic form, including the small-cap segment, a pronounced fall in US equities will sooner or later have repercussions, sometimes even more violent, on European equities", adds Christopher Dembik.

In addition, Wall Street could be shaken by the absence of an agreement between Democrats and Republicans on raising the US debt ceiling by Saturday.

In the absence of a 'deal', the world's leading economy could find itself in a situation of technical default, a prospect that would not help Washington's business at the moment.

On the bond front, the 10-year Bund is trading at around 2.89%, while the OAT for the same maturity is at 3.58, a spread of around 69 bp.
On the currency front, the euro is trading at around $1.088.
On the oil front, prices are back on the decline after three consecutive sessions in the green, caught up by fears surrounding economic activity in the United States.

North Sea Brent crude is down 0.1% below $70.9.

In French company news, ID Logistics reports net income for 2024 of 52.8 million euros, up 15.2% excluding non-recurring items, and operating income before non-recurring items (OIR) up 17.5% to 147.8 million.

Jacquet Metals reports net income (Group share) of six million euros for 2024, and recurring EBITDA of 87 million euros, representing 4.4% of sales versus 6% in 2023.

Voltalia reports a net loss, group share, of 20.9 million euros for 2024, compared with a gain of 29.6 million in 2023, as well as EBITDA down 11% to 215.1 million, despite sales up 10% to 546.6 million (+14% at constant exchange rates).


Copyright (c) 2025 CercleFinance.com. All rights reserved.