There was little movement on the Paris stock exchange this morning, which lost an anecdotal 0.1% around 7,285 points, despite a buoyant automotive sector (+2.7% for Renault, +1.4% for Stellantis, and +2% for Forvia on the SBF).

After June's good performance, equity markets seem to be catching their breath while waiting for a clearer picture of both the economy and monetary policy.

On this subject, investors will be paying close attention to Jerome Powell's speech to the House of Representatives' Financial Services Committee at 4pm. The Fed Chairman is likely to deliver a few details on the evolution of the institution's monetary policy. His speech will be closely scrutinized by all analysts.

This meeting should be the key event of the week, but as it comes just after the Monetary Policy Committee meeting, it's hard to imagine that it will reveal anything very new", say the teams at Kiplink Finance.

In view of the intense debates at the Fed, Powell is likely to continue to insist on the need to assess the lag in monetary policy measures, without committing himself to a further rate hike in July.

On the currency markets, the dollar, which had gained ground yesterday on the back of better-than-expected real estate statistics, continues to gain ground, breaking through the $1.09 barrier against the euro.

Bonds continued their erratic movements of recent days, with German Bund yields returning to 2.40% and French OATs easing to 2.92%.

Treasuries yields, which had climbed in recent weeks, followed suit, with the 10-year note falling back to 3.73% from last week's peak of 3.84%.

In French company news, Daher, Safran and Airbus presented EcoPulse, the jointly-developed hybrid-electric propulsion aircraft demonstrator. After successfully completing initial ground tests, the demonstrator will make its first flight with hybrid-electric propulsion later this year.

Osmosun, a specialist in solar-powered desalination solutions for seawater and brackish water, announces the launch of its initial public offering on the Euronext Growth® market in Paris.

Engie announced on Tuesday that it had acquired, alongside Meridiam, BTE Renewables, a specialist in renewable energies in South Africa and Kenya, an operation that will enable the French group to pursue its development outside Europe and the American continent.

Finally, Canal+ Group, a subsidiary of Vivendi, announced the signature of a strategic partnership with PCCW Limited, to accelerate the development of Viu, a leading streaming platform present in Asia, the Middle East and South Africa.



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