CAC40: up sharply, reassured by US tariffs
Wall Street was not to be outdone, with +0.7% for the Dow Jones, +1.2% for the S&P500 and even +1.8% for the Nasdaq
This upward momentum seems to be attributable to indiscretions obtained by the Washington Post to the effect that Donald Trump is abandoning his plan for prohibitive universal tariffs and targeting only "crucial imports".
On the statistics front, the HCOB composite PMI index of overall activity in the eurozone remained below 50 in December, but recovered from 48.3 in November to 49.6, signalling a slowdown in the contraction of private-sector activity to a marginal pace.
In France, the HCOB PMI composite index of overall activity stood at 47.5 in December.
Up from the ten-month low recorded in November, it nevertheless signals a contraction in private-sector activity for a fourth consecutive month.
In addition, industrial orders fell in the US in November, suggesting that the manufacturing sector is continuing to slow down.
Industrial orders fell by 0.4%, marking their fourth decline in six months, announced the Commerce Department on Monday. As a reminder, these had rebounded by 0.5% in October.
The week ahead will also be marked by the release, on Wednesday, of the 'minutes' of the US Federal Reserve's monetary policy meeting.
The minutes of the meeting will perhaps enable investors to learn more about the motives behind this decision, and may provide clues as to the pace of rate cuts to be expected this year.
As a reminder, US stock markets will be closed tomorrow for the national day of mourning in honor of former President Jimmy Carter, who died on December 29 at the age of 100.
On the bond front, the panorama is mixed: our OATs are easing by -2.5% to 3.27%, Bunds are stretching by +2.8pts to 2.453% and Italian BTPs are easing by -1.5pts to 3.5819%.
The OAT/Bund spread is down to +82pts.
US T-Bonds are back on the rise, with +2.5pts to 4.623%.
The reversal of expectations in terms of customs tariffs pushes the Dollar down -0.8% against the Euro, which climbs towards $1.04/E/
In French company news, Unibail-Rodamco-Westfield (URW) announces the sale of a 15% stake in Westfield Forum des Halles, a major 77.600 m2 shopping center in the heart of Paris, to CDC Investissement Immobilier, for a net sale price of 235 million euros.
Following on from the agreement signed last November for the sale of its meals-on-wheels business, Fleury Michon has confirmed the final sale of this business to Kumo, once the conditions precedent have been lifted.
ArcelorMittal announced on Monday that it had decided to discontinue its long steel production activities in South Africa, faced with economic conditions deemed too unfavorable.
Finally, Saft, the battery subsidiary of TotalEnergies, announced that it had signed a contract with Enchanted Tools to supply rechargeable battery packs for the new generation of Mirokaï robots.
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