The Paris Bourse's trajectory was the exact opposite of the previous day's: after a positive start to the session, the trend became progressively heavier, with infinite slowness - and in non-existent volumes - to reach -0.5%, erasing the +0.4% of the previous day.
The CAC40 was dragged down towards 7,400 by Teleperformance (-2.5%), Michelin (-2%) and STMicro (-1.8%).

Investors are still awaiting US inflation figures (Thursday), while the quarterly earnings season is also approaching across the Atlantic.

Only minor economic indicators (German industrial production, eurozone unemployment, US trade balance) were on today's agenda... and this was a frank disappointment for the German manufacturing sector.
The New York Stock Exchange reopened lower on Tuesday (-0.5 on the S&P500 to -0.7% for the Nasdaq), penalized by a bout of weakness in technology stocks against a backdrop of recurring concerns about interest rate trends.

Wall Street had posted its best session of the year yesterday, with a 2.2% rise for the Nasdaq Composite, driven mainly by the strength of semiconductor manufacturers: there was no upturn on Tuesday.
In US figures, the US trade deficit narrowed to $63.2 billion in November 2023, compared with the previous month's $64.5 billion (which was revised from an initial estimate of $64.3 billion), according to the Commerce Department.

This 2% month-on-month decrease in the deficit reflects a parallel contraction of 1.9% in both US imports of goods and services, to $316.9 billion, and exports, to $253.7 billion.

Note that after its spectacular fall the previous day, oil is back on the rise, with Brent crude at $77.2 a barrel (+1.2%).

On the bond front, the yield on US T-Bonds (+0.5 basis points) remains above the critical 4% threshold. In Europe, the German equivalent has risen to 2.18% (+2Pts).

In company news, Dassault Aviation announces that the final tranche of 18 Rafales for Indonesia has gone into effect, completing the number of aircraft on order for this country under the contract signed in February 2022 for the acquisition of 42 Rafales.

Trigano reports sales of €931.6 million for the first quarter of 2023-24 (to end November 2023), up 19.1%, driven by the strong momentum of its motorhome business (+26.8%).

Engie announces the acquisition of 51% of the stake held to date by Mirova, a subsidiary of Natixis Investment Managers dedicated to sustainable investment, in the Goya wind power project in Spain.

Finally, Airbus announces that Taiwan's EVA Air has finalized a firm purchase order for 18 long-haul A350-1000 and 15 single-aisle A321neo aircraft.


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