The Paris stock market ended the first trading session of the week down just 0.16%, at 7,335 points, at the end of a quiet day, marked by the absence of Wall Street, closed for the commemoration of George Washington's birthday, and by the absence of any statistical publications.

Unsurprisingly, trading volumes in Paris remained thin, with barely 2.3 billion euros exchanged since the opening, as investors limited their initiatives.

The rest of the week, however, will be marked by a number of important dates, including tomorrow's publication of the latest PMI activity indices in Europe, before the release of the German Ifo business climate index on Wednesday.

For the time being, the only point of tension seems to be diplomatic relations between the United States and China, whether it be the mysterious spy balloon affair or Beijing's possible military support for Moscow in the Ukrainian conflict.

On the bond front, President's Day in the U.S. is also causing activity in Europe to plunge, with scores of little significance: the small mid-day improvement has already disappeared (-0.3Pts on our OATs at 2.919% and -0.5Pt on Bunds at 2.455%, Italian BTPs stable).

On the corporate front, the results season is now officially drawing to a close, with only 61 of the S&P 500 companies, including two Dow Jones components, due to publish their accounts this week.

In Europe, a number of heavyweights such as BASF, Capgemini, Engie, Holcim, HSBC, Stellantis and Telefonica will also be reporting in the coming days.

In other company news, Forvia is forecasting a net loss (group share) of 382 million euros for 2022, up from a loss of 79 million in 2021, impacted by its withdrawal from Russia, as well as the costs of integrating Hella, restructuring and hyperinflation.

The automotive equipment supplier, which includes Faurecia and Hella, saw its operating margin contract by 1.1 points to 4.4%, on sales of nearly 25.5 billion euros, up 63%, including 17% organic growth.

Icade reports net current cash flow (NCFC) for 2022 up 7% to around 417 million euros (+5.9% to 5.50 euros per share), "above guidance", on IFRS sales up 9% to 1.8 billion euros.

Riber shares close the day sharply higher in Paris (+2.9%), the manufacturer of equipment for the semiconductor industry having announced that it has won a contract in Asia.

Finally, Technip Energies reports that it has won a front-end engineering design (FEED) contract from Arcadia eFuels to design the first commercial-scale plant for the production of sustainable aviation fuels, located in Vordingborg, Denmark.

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