Scores seem to have stalled around 7,380/7,390 since 12:30 and the CAC40 is down -0.4% towards 7,380Pts, a level comparable to that of January 3 (support tested intraday) or December 5 last year.

The Euro-Stoxx50 is showing the same -0.4% gap towards 4.460, while Wall Street, which had reopened stable, was still looking for a trend: the S&P500 was unchanged, but the Nasdaq gained 0.1% (4th possible closing record). By contrast, the Dow Jones index was down 0.4%, in the wake of 3M, which fell by more than 9% after reporting a disappointing outlook for 2024, against a backdrop of slowing demand.

On the other hand, Verizon and Procter & Gamble's publications were welcomed by investors, with respective gains of +5.4%.

European activity promises to be very quiet on the statistics front today, but could be enlivened by announcements on the results front, such as those from Ericsson, which this morning unveiled a heavy loss due to restructuring charges.... but the stock gains 5.3% as it's 'less worse than expected'.

On the other side of the Atlantic, Texas Instruments and Lockheed Martin are due to publish their accounts this evening.

Thanks to the dynamism of the technology sector, Wall Street broke records again on Monday, following a disappointing index of indicators, likely to prompt the Federal Reserve to loosen its monetary policy.

It seems that the markets are resilient and that nothing is likely to cause them to fall for long," stresses Christopher Dembik, Investment Strategy Advisor at Pictet AM.

"At most, we can expect some profit-taking at the end of the week if the ECB meeting disappoints, which is highly likely," he adds.

All this confirms that equities are a must, regardless of the state of the cycle and the current risks, if we are looking for yield", concludes the analyst.

Interest rate markets remain calm, with European yields sensitive to monetary policy expectations moving little ahead of the ECB's announcements.

The German ten-year yield is up +4.6pts to 2.335%, OATs +1pt to 2.836%, while US Treasuries of the same maturity are down +4.5pts to 4.1420%.
On the currency markets, the euro is losing 0.3% against the greenback, at around 1.085.

On the energy market, Brent crude stabilized at around $80 a barrel.

In French company news, Sanofi announces that it has signed a definitive agreement to acquire Inhibrx, a company specializing in the development of a broad portfolio of new biological drug candidates, after spinning off the company and separating its non-INBRX-101 assets.

TotalEnergies announces that it has signed a new agreement with European Energy for the development of offshore wind energy projects in Denmark, Finland and Sweden.

TotalEnergies also announces that it has signed an agreement to acquire the entire share capital of Kyon Energy, one of Germany's leading developers of battery storage systems, from its three founders.

Finally, Atos reports that its Eviden business line has won a contract from the Jülich Research Center in Germany to build the modular data center that will house the EuroHPC JUPITER supercomputer, Europe's first exascale system.

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