The Paris stock market gains nearly 0.4% post ECB (exactly the same score as before the ECB press conference).

After a +2% surge in the Nasdaq the previous day (in the wake of Nvidia and the semiconductor sector at +4%), the "technos" remain well oriented (+0.2%), with the other US indices consolidating horizontally.
Nvidia, with a market valuation of $3,012 billion, yesterday overtook Apple ($3,005 billion) for second place worldwide in terms of capitalization, and could soon overtake Microsoft ($3,145 billion).

The CAC40 climbed towards 8,040 points (the SBF-120 tested 6,100Pts), well helped by Edenred (+4.7%), Thalès, LVMH or ST-Micro with +1.5 to +1.8%.

The ECB cuts its key rate by -0.25% as planned, but this could be a "one shot": Christine Lagarde rules out the start of a "cycle" of rate cuts.
Everything will depend on macro-economic data, and in particular inflation, which "is likely to remain close to current levels until the end of the year" (+2.5% in 2024 and +2.2% in 2025), as wage growth remains strong and the job market continues to expand.
The ECB will pass its turn in July, and will review macro data in September.
All Ch.Lagarde's answers at the press conference were unsurprising, and market expectations (2 or 3 rate cuts in 2024) remain unchanged.
OAT and Bund yields eased +6pts on the 'fait accompli', to 3.048% and 2.557% respectively.
US T-Bonds remain perfectly unchanged at 4.295%, and across the curve.

The US "number of the day" remains unchanged: the Labor Department reports that 229,000 new US jobless claims were registered in the week to May 27, up 8,000 on the previous week, which was revised upwards from 219,000 to 221,000.

The four-week moving average - more representative of the underlying trend - came in at 222,250, an anecdotal drop of 750 on the previous week.

In Europe, investors were informed of retail sales in the euro zone in the morning.
The volume of 'CVS' data fell by 0.5% and 0.6% in the EU, according to Eurostat, following rises of 0.7% and 0.6% respectively in March.

In the eurozone, April sales fell by 0.5% for food, beverages and tobacco, 0.1% for non-food products (excluding fuels) and 2.2% for fuels in specialized stores.
In the EU, the biggest monthly falls were recorded in Latvia (-3.3%), Cyprus (-3.1%) and Denmark (-2.7%), and the biggest rises in Slovakia (+2.4%), Bulgaria and Austria (+1.9% each) and Portugal (+1.7%).

On the oil market, North Sea Brent rebounded by 0.2% to $78.8, with gold advancing towards $2,365 despite tense interest rates in Europe.

In French company news, Atos reports that the deadline for selecting a preferred financial restructuring proposal has been extended to the beginning of the week of June 10, with its objective of reaching a final agreement by July remaining unchanged.

TotalEnergies announces that at the close of the subscription period, 63,662 employees and former employees, representing 55.3% of eligible persons, had subscribed to its reserved capital increase, for an amount of 480.8 million euros.

In connection with the proposed acquisition of Collins Aerospace's actuation and flight control activities, Safran announces the Italian government's approval of the sale to Safran of Microtecnica Srl, the company grouping the relevant assets in Italy.

Finally, Technip Energies announced on Thursday that, as part of a consortium with American Turner Industries, it had won a contract from ExxonMobil for a carbon capture and sequestration project in Louisiana.



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