(News Bulletin 247) – The CAC 40 is moving up slightly on Tuesday, as business publications begin to pick up their stride.

The Paris Stock Exchange remains in wait-and-see mode. At mid-session on Tuesday, the CAC 40 gained a little ground (+0.21%) to 7442.74 points.

Market traders are avoiding too much risk taking ahead of central bank meetings later in the week, namely those of the Bank of Japan, the US Federal Reserve (Fed) and the European Central Bank (ECB).

The Fed begins a two-day meeting on Tuesday. “A rate hike of 25 basis points (0.25 percentage points) at the July meeting is fully expected. And with the inflation numbers surprisingly trending lower, indicating the process of inflation normalization is continuing, many believe this could be the last hike of the cycle,” comments Stephen Innes of Spi Asset Management.

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The German business climate is deteriorating

Investors are also taking note of the fall in the Ifo index which measures the business climate in Germany, which deteriorated in July to 83.5 in July against 83.8 in June for anticipated activity conditions.

“Overall, the July release confirms our view that German GDP will contract again in the third quarter,” summarizes Capital Economics.

The market is mainly busy dissecting the many corporate publications, the pace of which accelerated on Tuesday and will gain further momentum in the coming days. Remy Cointreau gains 3.8% after confirming its objectives for the 2023-2024 financial year despite a difficult start to the year.

Elior (-7%) is sanctioned after lowering its profitability target for the current financial year.

Dassault Systèmes dropped 3.6% as its second-quarter results showed slowing growth in the Life Sciences division.

Alstom drops 2% after seeing its orders plunge in the first quarter of its 2023-2024 financial year, due to a demanding comparison base.

Thales fell 0.9% after announcing the acquisition of Imperva, a cybersecurity champion, for 3.6 billion dollars.

On the other markets, the euro lost 0.2% against the dollar at 1.1045 dollars. Oil contracts are anemic. The September contract on Brent from the North Sea for delivery in September is stable at 82.43 dollars a barrel, while that of the same maturity on WTI is also in equilibrium at 78.78 dollars a barrel.