(CercleFinance.com) - The Paris stock market slightly widened its losses, falling by -0.5% around 7015 but holding on to 7,000 points, the day after a mixed session on Wall Street, with the Nasdaq losing 0.3% and the Dow Jones gaining +0.3%.
The Euro-Stoxx50 is down -0.8%, while Wall Street is expected to open sharply lower (the S&P500 is down -1%).

This morning, investors took note of the Ifo business climate index for Germany. The index climbed from 88.6 (December 2022) to 90.2 (January 2023), a level in line with the consensus according to Capital Economics, but a little lower than its own forecast of 92.

In detail, the expectations index rose considerably, from 83.2 to 86.4 month-on-month, a higher figure than expected, but the current conditions index fell slightly, from 94.4 to 94.1.

A recession may well be avoided, but we expect the economy to stagnate at best in the first half of 2023 and grow only very slowly thereafter", warns Capital Economics, pointing in particular to high interest rates and gas prices.

This morning, Danske Bank estimated that a further improvement in economic sentiment would add to the already positive signals coming from other statistics such as the ZEW and PMI, thus easing recession risks on the markets.

The day was also enlivened by a new wave of quarterly results, with announcements from Dutch semiconductor equipment manufacturer ASML (slight drop in margins, order book of E40bn, but stock down -2.5%), Boeing posted a loss of $430m but maintained its forecasts, and Kimberly Clark announced an 18% rise in profits but disappointed.
Bond markets are up, with yields easing by -3.5pts on our OATs to 2.5620%, and the Bund erasing -4pts to 2.115%.
T-Bonds are symbolically easing by -2pts to 3.447%.
Stability on the FOREX with E/$ unchanged at 1.0880.

In French company news, Alstom announces that its sales for the third quarter of 2022-23 rose by 8% to 4.22 billion euros, and that it booked orders worth 5.15 billion euros (of which 58% in services, signalling and systems).

BNP Paribas has announced that it will be entering a new phase of "strong acceleration" in its financing activities for the energy transition. The Group plans to reach €40 billion in financing for low-carbon, mainly renewable energy production by 2030.

Atos has entered into exclusive negotiations with Mitel Networks for the sale of its Unified Communications & Collaboration (Unify) business.

Finally, Airbus Helicopters reports a drop in orders for fiscal 2022, but also an increase in deliveries, in a market deemed 'complex' due to the war in Ukraine and its supply problems.

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