The CAC40 confirmed its positive trend in the early afternoon with a gain of around 1.6%, the day after a first session of the week undermined by the outbreak of war in the Middle East, which rekindled geopolitical fears.

This return to confidence would come in the wake of a resilient close on Wall Street last night, a resilience that Deutsche Bank attributes to accommodative comments made by Fed official Lorie Logan, despite her reputation as a hawk.

The New York Stock Exchange is likely to start the session on a hesitant note, if roughly stable futures on the S&P 500 and Nasdaq 100 are to be believed.

"Lorie Logan said that higher yields could mean that there is less need to raise Fed rates further, with financial conditions tightening substantially in recent months", explains the German bank.

We can therefore hope for a return to confidence in Paris, after a Monday session that saw the Middle East crisis hit stocks such as the airline Air France-KLM (-8.5%), the hotel chain Accor (-2.9%) and LVMH (-2.6%) hard.

On the subject of LVMH, it should be noted that the world's number one luxury goods company is due to unveil its third-quarter trading update after close of trading this evening, kicking off the quarterly publication season on the Paris Bourse.

While waiting for this major event of the week, investors can react to the earnings warnings announced overnight by active pharmaceutical ingredients company Euroapi and home furnishings retailer Maisons du Monde.

The active pharmaceutical ingredients company Euroapi announced that it had revised its full-year targets for 2023 downwards, and now expects sales growth to be between +3 and +5%, compared with +7 to +8% previously.

Maisons du Monde announced that it had lowered its full-year targets 'due to a deterioration in consumer confidence in Europe, affecting overall non-food consumption in the second half of the year'. Its third-quarter sales are expected to fall by 9.4% compared with the same period in 2022

Getlink announces that its LeShuttle shuttle service carried 211,819 passenger vehicles in September 2023, up 4% on the same month in 2022, benefiting in particular from the impact of the Rugby World Cup.

Eutelsat announces the signature by Marlink of a commitment for Ku-band GEO broadband capacity on board the Eutelsat 10B satellite, covering Europe, the Middle East and Africa, as well as the world's main maritime links.

Stifel maintains its Hold rating on Hermès shares, with an unchanged target price of 1,850 euros. The research firm believes that Hermès should again demonstrate its defensive characteristics in the 3rd quarter of 2023. Stifel thus models sales growth of +14% at constant exchange rates.

While reducing its target price for L'Oréal from 443 to 423 euros, Barclays maintains its 'overweight' recommendation, anticipating organic sales growth of 11.7% for the world's number one cosmetics company in Q3 2023.

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