The Paris Bourse posted an anecdotal gain of 0.06% to 7319 points for the first session of the week, marked by low volumes, with less than 2 billion euros traded since the opening.

Thales and Safran were the only CAC40 stocks to gain more than 1%, with +1.19% and +1.07% respectively, while Teleperformance was the lantern at -2.37%.

As the earnings season draws to a close, investors this morning took note of a worrying statistic concerning Germany.

Following a near-stagnation (-0.1%) in May, German industrial production fell by 1.5% in June 2023 compared with the previous month, a contraction driven in particular by the automotive sector (-3.5%).

We expect German industrial production to decline further over the remainder of the year, as high interest rates and weakening demand weigh," warns Capital Economics.

This comes at a time when markets were already concerned about the health of global growth, against a backdrop of rising central bank rates and the downgrading of US debt by Fitch, the latter having rekindled bond tensions.

In the U.S., the sudden rise in nervousness about long-term interest rates led to a rise in yields, making equities mechanically less attractive, especially technology stocks.

Although the yield on 10-year U.S. Treasury bonds is easing slightly, it is still above the symbolic 4% mark, and remains under close scrutiny.

On the European market, the German ten-year is still trading at the very high level of 2.56%.

The next test comes on Thursday with the publication of monthly consumer price statistics in the USA, which could prove resilient due to the recent rise in energy prices.

In news from French companies, Eutelsat Communications announces the signature of a partnership agreement with Space Tech Innovation Limited (STI), a subsidiary of Thaicom, for the operation of a new satellite to be located at orbital position 119.5° East for coverage of Asia.

Biocorp announces, following receipt of the usual regulatory approvals, the off-market acquisition by Novo Nordisk of a total of 2,838,669 shares, representing 64.3% of the company's capital and 64.09% of its voting rights, at a price of 35 euros per share.

Poujoulat reports sales for its first quarter (April to June) up 8.5% year-on-year, to 75.7 million euros, 'thus outperforming expectations and demonstrating the strength of its growth', according to the group.

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