After a low shortly after the opening, followed by a +0.4% rise at midday (to 7,660 pts), the Paris Bourse ended the session down 0.31%, at 7,598 points, with rises by Safran (+2.3%) and Scheider (+1.2%) far from offsetting the sharp declines by Edenred (-13.5%) and Thales (-6.7%), not forgetting Stellantis (-2.2%).

For its part, the Euro-Stoxx50 gained 0.4% (to 4,915 pts), benefiting above all from SAP's +7% performance, which supported the trend.

On the statistics front, sales of existing homes in the US fell by 5.4% in June 2024 compared with the previous month, to a seasonally adjusted annual rate of 3.89 million, according to statistics published by the Federation of Realtors (NAR).

The median sales price of existing homes rebounded by 4.1% compared to June 2023 to reach $426,900 - the highest price ever recorded for the second month in a row and the twelfth consecutive month of year-on-year increases: housing has never been so inaccessible for the greatest number of Americans).

The stock of unsold existing homes rose by 3.1% on the previous month to reach 1.32 million at the end of June, equivalent to 4.1 months' supply at the current rate of monthly sales.

While the news of recent days has been marked by the withdrawal of President Biden and the emergence of a candidacy by his vice-president Kamala Harris (she has officially just collected enough delegate votes from her party to face Trump), economic and microeconomic concerns are once again taking center stage with earnings season in full swing.

On the bond market, US Treasury yields reacted little to the weekend's political events, with 10-year paper easing -2.5pts to 4.23%.
In Europe, Bunds erased -4.4pts to 2.43%, our OATs remained virtually stable at 3.13% and Italian BTPs were perfectly unchanged at 3.76%

The dollar recovered +0.3% against the euro, to $1.085/Euro. Lastly, Brent crude oil dropped -1.6% to $80.9/barrel.

In French company news, Thales reported adjusted net income (group share) for the first half of 2024 up 6% to €866 million, and EBIT up 10.4% to nearly €1.1 billion (+4.7% organic), representing a margin improvement of 0.2 points to 11.5%.

Interparfums (+17%) reported sales growth of almost 16% to 209.9 million euros for the second quarter of 2024, bringing the total for the first six months of the year to 422.6 million (+7% at constant exchange rates).

Airbus has announced that Virgin Atlantic has ordered seven additional A330neo aircraft, bringing its total commitment for this model to 19 aircraft, as part of its fleet transformation.

Japan Airlines has also placed a firm order for 20 wide-body A350-900s and 11 single-aisle A321neos.

Finally, Airbus reports that its 'Racer' high-speed helicopter demonstrator has met and exceeded its cruising speed target of 407 km/h, even reaching 420 km/h in its first tests.

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