(News Bulletin 247) – The Paris Stock Exchange is expected to decline slightly on Tuesday morning, in a market that lacks fuel at the start of a week that should be dominated by numerous results publications.
Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – now passed on the May deadline – fell 19 points to 7497 points, announcing a start to the session on a note of weakness.
The CAC had ended the day on Monday in equilibrium, at 7573 points (-0.04%), investors having been cautious at the start of a week rich in corporate publications and economic indicators.
In the absence of factors likely to give it additional momentum, the Parisian market paused after lining up five consecutive weeks of growth.
After the strong stock market rally at the start of the year, the equity markets are struggling to find a new lease of life, even if the technical elements in the short and medium term do not really give negative signals.
‘The upward pace of the CAC 40 index is not weakening and retains sufficient momentum to cross all the resistances that arise’, thus ensure the teams of Kiplink Finance.
The absence of major economic indicators and results of companies likely to influence the trend encourages a wait-and-see attitude while waiting for the deluge of results expected in the United States in the days to come.
The trend could nonetheless pick up a little today with the publications of several European heavyweights on the stock market, including ABB, Nestlé, Novartis, Santander and UBS.
In addition to the results of European companies on the program on Tuesday, investors will watch those of 3M, GE, GM, McDonald’s and even UPS scheduled before the opening of Wall Street.
Post-closing, the highly anticipated publications from Alphabet and Microsoft will set the tone for the discussions.
On the economic front, operators will follow the Conference Board’s consumer confidence index this afternoon as well as sales of new homes in the United States.
On the bond compartment, the yield on US Treasury bonds is enjoying a slight relaxation to 3.51% pending the first figures for US growth in the first quarter, scheduled for Thursday.
On the European market, a certain heaviness prevails as the Governor of the Banque de France predicted two more minimum rate hikes in Europe yesterday, while the last is expected in the United States on May 3.
The yield on the ten-year German Bund fell to 2.46% this morning, while its French equivalent remained frozen at around 3.07%.
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