The Paris Bourse ended the day up 0.52%, at 7032 points. After a long period of hesitation, the Paris index gained a little altitude with the positive opening of Wall Street (the Dow Jones gained +1%, the S&P500 +1.4% and the Nasdaq +2%).

The week promises to be a busy one in terms of corporate releases (93 S&P 500 companies are due to publish their results) and business statistics.

In terms of statistics, investors have already learned of the decline in the leading indicators index in December, reinforcing expectations of a recession in the months ahead.

The leading index fell by 1% to 110.5 last month, having already fallen by 1.1% in November, while analysts were anticipating a more limited decline of 0.7%.

Ataman Ozyildirim, Director of Economic Research at The Conference Board, points to widespread weakness across all statistical components, from a deteriorating labor market to difficulties in the housing sector.

He predicts that "economic activity as a whole is likely to turn downwards in the coming quarters, before recovering in the fourth quarter of 2023".

The European earnings round will also continue, with announcements from ASML, LVMH, STMicroelectronics, Nokia and SAP.

On the macroeconomic front, the week will be dominated by the publication - on Thursday - of the first estimate of US gross domestic product (GDP) for the fourth quarter.

Investors will also be paying close attention to the publication, on Tuesday, of the 'flash' PMI indices in the eurozone, which should fuel the ongoing debate on the level of inflation and the risk of a recession.
According to the latest Eurostat figures just released, France is the only country in the Eurozone where the public debt/GDP ratio rose in the third quarter of 2022.

The approach of the Federal Reserve's meeting on January 31 and February 1, which is likely to result in a further rate hike, could nevertheless prompt investors to exercise caution.

The moderation in inflation and labor market data reinforces the hypothesis of a rate hike limited to 25 basis points next week.

This day will also be marked by the rise in oil (+1% to $88.5), which has broken through medium-term resistance.

On the bond front, it was very quiet, with yields on US OATs, Bunds and T-Bonds rising by a symbolic +1 to +2 basis points.

In corporate news, SES announced a new agreement with Ivanhoe Mines to provide satellite broadband connectivity services for the Kamoa-Kakula copper project in the Democratic Republic of Congo (DRC).

Atos announces that it will coordinate, through ARI (Atos Research and Innovation), a group of 41 public and private organizations that will work together over the next three years on the Sunrise project. This project aims to improve the resilience of critical infrastructures to the impact of pandemics and relevant risks linked to climate change or resource scarcity.

Thales Alenia Space and its partners announce the signature of a contract with ESA to carry out the TeQuantS quantum communications project. This project aims to develop quantum communications technologies between space and Earth for cyber security applications and the development of the future Internet.

Finally, Alstom and the Centre d'Essais Ferroviaires (CEF) inaugurated the new climatic chamber at the Centre d'Essais Ferroviaires de Petite-Forêt, designed to develop heating, air-conditioning and insulation systems for rolling stock with a view to homologation.



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