An upturn on Wall Street enabled the Paris Bourse to emerge from a long episode of -0.3% to -0.4% declines around a pivot of 6,985Pts (between 11:00 and 16:45), and to only erode by -0.15%, which enabled it to climb back above 7,000Pts.000Pts.

The CAC40 continues to be penalized by Alstom (-1.7%), Total (-1.8%) and Renault (-3%.2), followed by Edenred (-4.5%).

The Euro-Stoxx50 erases its -0.4% to return to equilibrium at around 4.160, while Wall Street, which had reopened without direction (negative spreads of less than 0.1% on the 3 main US indices), opted for a 7th consecutive rise (and an 8th for the Nasdaq, which gained 0.8%): the Nasdaq climbed from 12,600 to 13,635 points, i.e. +8.2% in a straight line since October 26, and could record its best close since October 11 (13,659).

However, analysts stress that the current environment remains sufficiently fragile for caution to prevail for the time being.
Many strategists point out that macroeconomic forecasts are becoming increasingly gloomy, which could adversely affect stock market performance in the months ahead.

Few figures on the agenda this Tuesday: the US trade deficit widened to -$61.5 billion in September (vs. $58.7 billion in August, revised from an initial estimate of $58.3 billion), according to the Commerce Department.

This 4.9% month-on-month widening of the deficit reflects a 2.7% increase in US imports of goods and services, to $322.7% bn, outstripping a 2.2% rise in exports, to $261.1 bn.
US T-Bonds eased by -8pts to 4.586%, with identical spreads observed in Europe after a +10 to +11pt deterioration the previous day.
Bunds eased by -7.3pts to 2.6640% and our OATs by -8pts to 3.2600%.

On the foreign exchange market, the euro is down 0.45% against the greenback, at $1.0675.

The 'fact of the day' could be the sharp fall in the price of Brent crude oil, which is down -3%: a barrel is trading at $82.7, while WTI is down -3% at $78.5.

In other French company news, Teleperformance last night reported Q3 sales of ME 1989, down 3.3% on a reported basis on the same period a year earlier.

The Group is targeting organic growth of around +6% (excluding the impact of currency volatility in hyperinflationary countries) and an EBITA margin target of 16% for 2023.

Capgemini announces third-quarter 2023 sales of 5.48 billion euros, down 1.3% on a reported basis, but up 2.3% at constant exchange rates and 2% organically.

On the occasion of its quarterly publication, Engie raised its 2023 guidance, with recurring net income attributable to the Group now expected to be between 5.1 and 5.7 billion euros (instead of 4.7 to 5.3 billion), while reaffirming its dividend policy.

Finally, Saint-Gobain announces that it has signed a 14-year renewable electricity purchase agreement (PPA) with Alpiq Energie France, covering the purchase of electricity generated by two solar farms located in Moselle.


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