The Paris stock market gained a timid 0.1%, around 7535 points, despite gains by Schneider Electric, Legrand and Saint-Gobain (+1.1%).

Investors are awaiting meetings of the US Federal Reserve and then the European Central Bank (ECB), keeping investors on their toes.

The major central banks recently ended their rate hike cycle, but their more accommodative approach does not seem sufficient in the eyes of the markets, which are now calling for rate cuts.

A wait-and-see climate is likely to persist at least until Wednesday evening and the publication of the Fed's monetary policy statement, which will open the week's big monetary ball.

Friday's publication of better-than-expected employment figures for November confirmed the scenario of a "soft landing" for the US economy, relieving some of the pressure on its shoulders.

The probability of a Fed rate cut in March is now estimated at only around 40%, according to CME Group's FedWatch barometer, while this barometer puts the scenario of a rate hold in March at over 57%.

The situation is very different in Europe, where the European Central Bank (ECB) is being urged to do more in the face of an economy that is undeniably flirting with recession.

Markets believe that the first rate cuts could take place as early as March, and that the ECB could make as many as six 0.25% rate cuts in 2024", notes Alexandre Baradez, Head of Market Analysis at IG France.

For the strategist, these expectations are probably too aggressive, given that core inflation in the eurozone is currently hovering around 3.6%, still a long way from the central bank's 2% target.

The Bank of England, whose announcements are expected on Thursday as is the case for the ECB, also seems in no hurry to join the 'doves' camp.

With central banks seemingly unwilling to go along with current market forecasts, the return to reality could prove complicated for investors already in euphoric mode.

In addition to the central banks' announcements, the autumn rally will be put to the test by a number of key economic indicators, including the latest inflation and retail sales figures in the USA.

In Europe, the preliminary PMI indices for December - due on Friday - will be used to assess the seriousness of the recessionary threat on the Old Continent.

Over the weekend, Alstom announced the inauguration of Citadis Dualis tram-trains on line T12 of the Île-de-France Mobilités network, which since yesterday has linked two major Essonne hubs, Évry-Courcouronnes and Massy-Palaiseau.

Arkema announces that it has signed a 20-year contract with EDF Renouvelables for the supply of 20 GWh/year of solar-generated electricity, a partnership that will begin in 2026 and cover 70% of the electricity consumption of Bostik's eight sites in France.

Saint-Gobain announces that it has signed a four-billion-euro line of credit maturing in December 2028, including two one-year extension options, which replaces two available lines of 2.5 and 1.5 billion maturing in December 2024.

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