The Paris stock market is stable this morning, at around 7575 points, against a backdrop of wait-and-see sentiment ahead of the long Christmas weekend and the publication of crucial US inflation indicators.

The trend remains hesitant as investors continue to wonder about the evolution of the monetary policies of the major central banks, while having to digest often mixed economic indicators.

PCE inflation - the indicator on which the Federal Reserve relies to monitor the trajectory of prices - is due at 2.30pm and is expected to decline compared with the previous month.

The consensus is for a decline to 3.4% in the 'core' version, i.e. excluding food and energy, in November, compared with +3.5% in October, expectations bolstered by the reassuring price data published last week.

'If this is the case, it would reinforce the Fed's pivot towards monetary easing', emphasize analysts at Oddo BHF.

Despite the accommodating tone adopted by the central authority last week, investors are beginning to fear that the Fed will decide to slow its rate cuts next year in the face of persistent inflation and solid economic data.

Today's session will also be marked by the release of US durable goods orders, new home sales and Michigan consumer confidence figures.

With all Euronext markets remaining closed on Monday and Tuesday, investors may also be starting to fine-tune their 2024 strategy in the run-up to the New Year.

With the CAC 40 flirting for several days with the historic and elusive 7,600-point mark, which it broke through last week, it will take a real catalyst to get investors moving.

With only a few sessions to go before the annual close, the CAC 40 index remains torn between holding on to its performance and the risk of losing last week's all-time record too quickly", explain Kiplink's chartists.

Bond yields continue to fall, with the US ten-year at 3.87%, while its German equivalent is hovering around 1.97%.

The euro rallied against the dollar to test new highs since the summer at around 1.10, with investors betting that the US Fed will beat the ECB to its first rate cuts.

The oil market remains supported by geopolitical factors, in this case tensions in the Red Sea, which more than offset the prospect of a slowdown in global economic activity. Brent crude thus gained 1.2% to $80.3 a barrel.

Gold, the safe-haven par excellence, is also at its highest at $2053 an ounce (+1%).

In other French company news, Pernod Ricard has announced that it has signed an agreement to sell the Becherovka brand and associated assets, including the Karlovy Vary production site, to the Maspex group. Subject to the usual conditions precedent, the sale is expected to be finalized by the end of June 2024.

Vinci reports that, via its local subsidiary Seymour Whyte, it has won a contract worth over 86 million euros to upgrade the Cressbrook dam at Toowoomba, near Brisbane in the Australian state of Queensland.

Finally, Neoen announces that it has signed a turnkey EPC contract with a joint venture of Bouygues Construction Australia and Bouygues Energies & Services, officially launching the construction of the Culcairn solar power plant in the Australian state of New South Wales.

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