The Paris Bourse widened its losses, with the CAC40 down -1.2% to 7,630, wiping out all of Friday's gains.
Losses even reached -1.4%, with a session low at 7,620pts... but in very small volumes (1.1 billion euros in 8 hours of trading).

The luxury goods sector had served as the locomotive on the eve of the weekend (with no particular news), and it is this sector which is depressing the trend, with -5.8% for Kering (around 320 euros), -2.8% for LVMH and -2.7% for Hermès.
The heaviness of these large caps weighed on the Euro-Stoxx50, which lost -1.2% to 4,982.

The luxury goods sector - highly dependent on China - was penalized by the slower-than-expected rise in Chinese GDP (4.7% in the second quarter).
But also by the -70% fall in Swatch results and, above all, by Burburry's, which issued a warning (-15% on the stock market) and suspended its dividend.

Wall Street's good performance (+0.7% for the S&P500, which equalled its all-time record, and +1.1% for the Nasdaq-100, which hit record territory at around 20,540) is not at all supportive of European markets, which have fallen victim to a phenomenon of communicating vessels.

Investors will be able to try to reassure themselves about market fundamentals through a series of corporate accounts.

While the leading US banks kicked off the results ball on Friday - albeit with a 6% drop for Wells Fargo - Goldman Sachs reassured investors with a quarterly performance twice as good as 2023 (but in line with expected figures, the stock was stable).

Earnings releases from Johnson & Johnson, Netflix and American Express are also on the agenda for the coming days.

In all, some 45 companies belonging to the S&P 500 index, including five Dow Jones companies, will publish their accounts this week.

Satisfactory inflation trends in both the US and Europe reassured bond markets last week, paving the way for possible monetary easing measures between now and the end of the year.

European yields are easing, with -3 basis points on OATs (3.214%) and -2.2 basis points on Bunds (2.474%).

On the other hand, US T-Bonds are deteriorating, with a yield of 4.22% (+3.5 basis points).
The dollar appears completely frozen ('$-Index' at 104.08), while the euro is gaining 0.1% towards $1.0920.

Central banks will be in the spotlight again this week, with the European Central Bank (ECB) meeting on Thursday - its last before the summer break - although nothing new is expected.

Investors are likely to be looking for further indications of the possibility of a further rate cut in September.

In addition to US corporate earnings, the week will also see the first results from major European stocks.

In the tech sector, the publication of ASML, the Dutch giant in equipment for the semiconductor industry, will be of particular interest.

In terms of economic indicators, we expect to see US retail sales and the German ZEW index tomorrow, as well as the latest UK inflation figures.

In French company news, Carrefour announced that it had signed a partnership agreement with GreenYellow to install and operate photovoltaic energy production equipment on nearly 350 of its hypermarket and supermarket parking lots in France.

BNP Paribas announced on Sunday that it had entered into a strategic partnership with Ant International, the owner of the Alipay+ mobile payment application.

Finally, Atos announced the successful financing of its financial restructuring plan, as well as a lock-up agreement reached with banks and bondholders willing to support the agreement on the terms of the financial restructuring announced on June 30.


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