(News Bulletin 247) – The European stock markets are moving in dispersed order this morning: Paris takes over +0.3%, ahead of Frankfurt (+0.2%) while London brings up the rear and gives up 0.4%.

This morning, investors were able to take note of the retail sales figures in the euro zone. These rose less than expected in January, suggesting that price increases are weighing on household demand.

Retail sales in the 20 countries sharing the single currency thus increased by 0.3% in January compared to December, but showed a decrease of 2.3% over one year, according to Eurostat statistics.

Economists were expecting a stronger rebound in consumption in January, around 0.6%, after the 1.7% drop recorded in December.

On the statistics front, the markets are especially awaiting the monthly report on employment from the Department of Labor in the United States, which is due to be published on Friday and will constitute the high point of the week in terms of economic publications.

The challenge of these figures is simple: to obtain confirmation of the trend towards a deceleration in the pace of job creation, likely to validate the scenario of a pause in the Fed’s rate tightening cycle.

For the month of February, economists expect only 220,000 job creations after the 517,000 announced in January.

The reaction of the markets to the US employment figures will prove decisive in view of the meetings of the major central banks expected in the coming weeks.

In this perspective, the hearing of Jerome Powell, the chairman of the Federal Reserve, by the American parliamentarians tomorrow and Wednesday will also be particularly followed.

In European company news, Eni announced this weekend the signing of a Memorandum of Understanding (MoU) with ADNOC, the main national oil company of the United Arab Emirates for future joint projects on energy transition, sustainability and decarbonization.

TIM announces that it has received a non-binding offer from a consortium formed by CdP Equity (CDPE) and Macquarie Infrastructure and Real Assets (Europe), acting on behalf of MAM Funds, for the purchase of 100% of the fixed network of Telecom Italia, including the assets and operations of FiberCop, as well as the interest in Sparkle.

Iberdrola establishes its position in France and announces a consolidation of its activities under a new and same entity, Iberdrola France, headed by Emmanuel Rollin.

Finally, Roche announced Monday that it has obtained FDA clearance for its Ventana PD-L1 test as a companion diagnostic for identifying people with non-small cell lung cancer who are eligible for Libtayo, the immunotherapy developed by Sanofi and Regeneron.

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