The Paris Bourse ended the first trading session of the week up a modest 0.45%, at 7143 points, in reduced volumes, with barely 2 billion euros traded since the opening.

The only statistic on the agenda, according to the US Commerce Department, US wholesale inventories were flat in May on a sequential basis, following a 0.3% decline in the previous month (revised from the initial announcement of a 0.1% decline in April).

Wholesale sales fell by 0.2% between April and May. At the rate of May sales, wholesalers needed 1.41 months to clear their inventories, compared with 1.40 the previous month.

On the statistics front, the week will be dominated by the release of several leading US inflation indicators for June, starting with the consumer price index on Wednesday, followed by producer and import prices.

On this side of the Atlantic, the ZEW index of economic sentiment in Germany, German and French inflation figures, and industrial production in the eurozone are expected in the coming days.

The ECB's report on its June meeting (Thursday) will be another interesting publication, given the assumption, reinforced recently, of a key rate hike in September", also points out Deutsche Bank.

Finally, the week will also see the kick-off of the quarterly results season in the USA, with in particular the publications of major financial establishments such as JP Morgan Chase and Citigroup, expected on Friday.

Even before we find out the inflation figures on Wednesday, our bond markets continue to deteriorate, with +2pts on our OATs at 3.2080%, +1.5pts on Bunds at 2.651%, +3pts on Italian BTPs at 4.388%.

US T-Bonds, on the other hand, are unchanged at 4.046/4.0500%, and the euro is holding steady at around $1.098.

On the value side, TotalEnergies and its Azerbaijani partner SOCAR announced the start of production from the first development phase of the Absheron gas condensate field, located in the Caspian Sea, around 100 km southeast of Baku.

TotalEnergies also announced the signature of a series of agreements with Sonatrach to strengthen their cooperation in natural gas production, the delivery of LNG to Europe, and the development of renewable energies in Algeria.

While maintaining its 'hold' recommendation, Stifel is adjusting its target price for Hermès from €1,800 to €1,820, pending the publication of the luxury house's first-half results on July 28.

JCDecaux announces that it has won a call for tenders for a 14-year street furniture contract with Colmar Agglomération (20 communes).

Finally, Airbus announces the inauguration of its new Final Assembly Line (FAL) for the A320 family in Toulouse.


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