2023-11-29 09:45:04
The Paris stock market gained almost 0.5% this morning, around 7285 points, driven by the automobile sector with +3.5% for Stellantis and +3.3% for Renault.
If the Parisian market has tended to catch its breath in recent days, the underlying trend remains upward and the famous end-of-year ‘rally’ remains very much alive, underline the chartists.
Investors will have to watch a whole series of major statistics today, starting with the first estimate of consumer prices in Germany for November, which will be released at 2:00 p.m.
‘If German inflation appears to be falling, this reinforces the possibility that inflation in the euro zone will fall once more following having already fallen more than expected in September and October,’ recalls Christopher Dembik, strategist at Pictet Asset Management.
‘Obviously, the fall in inflation risks reinforcing expectations of rate cuts by the ECB which constitute one of the main drivers of rise in financial markets at the moment,’ he adds.
Another important event, the publication, at 2:30 p.m., of the second estimate of the gross domestic product (GDP) of the United States for the third quarter.
Economists are banking on a confirmation of the first estimate, which showed strong growth of 4.9% in economic activity over the period from July to September.
On the foreign exchange market, the euro weakened a little before the publication of these figures to trade around 1.098 dollars, down 0.1%.
On the government bond side, bond yields confirm their good start to the week, with a ten-year Bund yield falling towards 2.5% while its American equivalent stands at around 4.33%, a record low of two months.
Barrel prices are moving slightly higher before the release, in the followingnoon, of oil stocks in the United States and on the eve of a highly anticipated OPEC meeting.
Brent is currently up 0.3% to $81.9 per barrel.
In French company news, TotalEnergies says it is investing £20 million to acquire a minority stake in Xlinks First Limited, a company founded in 2019 in the United Kingdom, and thus join investors Octopus Energy and Abu Dhabi National Energy Company.
RIVE Private Investment announces that it has signed an exclusive partnership with Safran Helicopter Engines, which has developed a decarbonization consulting offer with a CO2 emissions monitoring model.
EDF announces the success of its first green bond issue dedicated to financing the existing nuclear fleet, for a nominal amount of one billion euros, with a maturity of 3.5 years with a fixed coupon of 3.75%.
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