Oscillating since the opening in a narrow corridor between 7400 and 7450 points, the Paris Bourse finally ended the session at 7415 points, posting a moderate decline of 0.16%.

In thin trading volumes, with barely 2.5 billion euros exchanged during the session, the Paris index was penalized in particular by the heavy decline of Dassault Systèmes (-5%) and Airbus to a lesser extent (-2.4%).

On the statistics front, investors were able to take note of the Ifo business climate index for Germany. The index shows a sharp drop in confidence, down -1.3 points (from 88.6 to 87.3), and the "business leaders' assessment of current conditions" component is down -2.4 points to 91.3, versus 93 expected.

The mood is very different on the other side of the Atlantic, with a sharp rise in the Conference Board's consumer confidence index from 110.1 to 117 (versus 112 expected), a 2-year high, according to the Board's monthly survey.

The consumer assessment of their current situation component rose to 160 from 155.3 last month, but it was the expectations sub-index that improved the most, to 88.3 from 80 last month, with consumers reassured by lower fuel prices and a robust labor market.

With corporate results pouring in on both sides of the Atlantic, investors may be cautious ahead of the Federal Reserve's monetary policy decision, expected tomorrow evening at 8pm.
The Fed's policy committee meeting began today and will conclude on Wednesday with a press conference by Chairman Jerome Powell.

In the meantime, long yields are down slightly, with +2.8pts on our OATs to 2.975%, +3.1pts on Bunds to 2.42% and US T-Bonds under pressure by +5.5pts to 3.91%.

In French company news, results from LVMH and EssilorLuxottica are expected shortly.

Thales has reached an agreement with Thoma Bravo, a major software investment firm, to acquire 100% of Imperva. Imperva is the US leader in data and application cybersecurity. The acquisition has an enterprise value of $3.6 billion.

TotalEnergies announces the acquisition of the entire share capital of Total Eren, increasing its stake from nearly 30% to 100%. Total Eren's teams will be fully integrated into the oil and gas group's renewables business unit.

Alstom reports sales of nearly 4.2 billion euros for its first quarter 2023-24 (April to June), up 4.3% year-on-year (+7.6% organic), 'in line with the targeted trajectory'.

Société Générale announces the success of the capital increase reserved for its employees and retirees, as part of its 2023 Global Employee Share Ownership Plan (the 30th proposed by the Group), which has just closed.

Orpea announces that its accelerated safeguard plan has been approved by the Nanterre Specialized Commercial Court. According to Laurent Guillot, the group's CEO, this decision 'will enable new shareholders to take a stake in a group that will already have a completely different face'.

Finally, Lagardère has announced sales of €3,701m for the six months to June 30, 2023, up +22.3% on a reported basis and +19.0% on a like-for-like basis.


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