(News Bulletin 247) – The Parisian index rose slightly this Monday while the President of the Federal Reserve, Jerome Powell, further tempered his institution’s potential rate cuts.

The CAC 40 is off to a timid start to the week. The Parisian index advanced 0.1% at mid-session to 7,600.36 points.

The market dissects the speech of the president of the American Federal Reserve (Fed) on Sunday. Jerome Powell declared that the Fed should give itself time to see “if the data confirms that inflation is falling towards 2% in a sustainable manner”, on the American program “60 Minutes”. “We want to approach this issue with caution,” he added, according to comments reported by the Reuters news agency.

“To be honest, there’s not much new, but the confirmation that he wasn’t going to use the show for a big ‘dovish’ turnaround has brought the good news back of the Treasury at two years and at ten years by four to five basis points (i.e. from 0.04 to 0.05 percentage points, Editor’s note) overnight, which adds to the sharp increase on Friday. , underlines Deutsche Bank. On Friday, the strength of job creation in the United States in the month of January had propelled the yields of United States sovereign debt securities.

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Many CAC 40 groups will publish this week

The week will be especially marked by numerous company publications, with around ten CAC 40 companies due to unveil their results starting on Thursday, including Totalenergies, Vinci, L’Oréal, Hermès and Société Générale and Crédit Agricole SA.

This Monday, Atos plunged once again by 26% after announcing that it intended to request the appointment of an ad hoc agent to facilitate dialogue with its creditors. This revives market concerns as the group faces a wall of debt of 3.6 billion euros maturing in 2024 and 2025.

Orpea rose 3.6% after announcing a consolidation of shares in packages of 1000, which should reduce the number of shares in circulation to 156 million against currently 156 billion(!).

On other markets, the euro lost 0.3% against the dollar to 1.0754 dollars. Oil is losing ground. The contract on North Sea Brent for delivery in April fell 0.34% to 76.99 dollars per barrel, while that of March on WTI listed on the New York Stock Exchange lost 0.6% to 71.87 dollars per barrel.