CAC40: benefits from an upturn in WStreet, gold tops $3,000

(CercleFinance.com) - The Paris Bourse rebounded by +1% to 8,030, despite a deterioration in bond markets - encouraged by the surge in US indices (+1.
2% on the S&P500, +1.6% on the Nasdaq) as the risk of a shutdown of the US federal administration was averted.

The document still has to be approved by the Senate before midnight tonight, but a compromise seems in sight: Senate Democratic Minority Leader Chuck Schumer has said he plans to vote for the Republican bill rather than risk another government shutdown.
The release later this morning of the University of Michigan's consumer confidence index for February could, however, disrupt the emerging upturn.
The consensus forecast is for a further fall in consumer sentiment, with the index expected to reach 63, compared with 64.7 in January.

T-Bonds are down +3.5pts to 4.313%, Bunds +5pts to 2.9050%, and our OATs +3.5pts to 2.588% (the spread is contracting to +69pts).
Wednesday's rather reassuring inflation data should have been a reason for easing rates, but the slowdown in CPI and PPI figures was quickly ignored, as investors expected inflationary pressures to intensify as a result of customs surcharges.

On the Eurozone statistics front, year-on-year consumer prices in France rose by 0.8% in February, after +1.7% in January, taking the year-on-year figure below 1% for the first time since February 2021, according to Insee, which confirmed its provisional estimate.

Across the Rhine, the rise in Germany's consumer price index harmonized to European standards (HICP) was revised downwards to 2.6% for the month of February, compared with 2.8% in the first reading, the Federal Statistics Office announced on Friday.

Elsewhere, traders are resuming their buying of gold, whose April contract just hit a new high at over $3,010.010.
The spot price has reached $3.004, the April contract has climbed to $3.017/Oz, and silver is close to $34.5/Oz.
The geopolitical climate could improve as US/Ukraine/Russia talks progress, but gold's trajectory does not seem to take into account the signing of an imminent peace agreement.

The oil market is also back on the rise, heading for a positive performance for the week as a whole, despite fears that the resurgence of trade tensions will weigh on growth and demand.

Brent crude is marking time, falling back to the $70/barrel mark, while WTI is stalling at around $66.5.
On the FOREX, the Euro recovers the 0.2% it lost the previous day at 1.0880, while the $-Index slips -0.1% to 103.75.

In French company news, Thales returns to its highs at 247/250 euros, while Airbus, another "defense" stock, climbs +3.5% to 167.5 euros.
Interparfums announces an extension of its partnership with Coach for a further five years, taking the license to June 30, 2031.

Rubis reports net income (group share) of 342 million euros for 2024, within the target range of 340 to 375 million, down 4% on a comparable basis, including 83 million euros in net capital gains from the sale of Rubis Terminal.

Airbus Helicopters said it closed the 2025 VERTICON show in Dallas with commitments for 118 helicopters, including 63 firm orders, from customers worldwide for a variety of its multi-mission helicopters.

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