After gaining nearly 1.9% yesterday for the first session of the year, the Paris stock market continued its upward momentum today, gaining nearly 1.4% around 6,685 points.

Kiplink Finance's technical analysts comment: "The CAC 40 index is thus starting the new year from a clean slate, with the comfort of a reference chart threshold close to 6,500 points".

According to the Paris-based manager, this valuation level suggests "significant upside potential if the various elements making up the markets were to align without further hindrance".

The first week of trading generally sets the trend for equity markets, but the opening of New York in the early afternoon will undoubtedly set the tone for the start of the year. Wall Street will enter 2023, back after a long New Year's weekend.

For the time being, the direction of futures contracts on the major US markets is signalling a start to the session up by almost 1% on Wall Street.

There are no economic indicators on the agenda today in the USA, but the morning will be punctuated by several key statistics in Europe.

Unsurprisingly, all eyes will remain on inflation, with the release of Germany's consumer price index for December.

Investors were also informed of a rise in unemployment in Germany in December, according to official statistics published on Tuesday by the Federal Employment Agency.

The number of jobseekers rose by 20,000 on November to 2,454,000 at the end of last month. This latest figure represents an increase of 124,000 compared with December 2021.

In company news, Orpea announces that it has made two new drawdowns of up to 205 million euros at the end of December 2022, under the 3.2 billion euro financing agreement concluded with its main banking partners last June.

Sensorion announces that it has enrolled the first patient in its Phase 2a proof-of-concept clinical trial of SENS-401 (Arazasetron) in patients suffering from cisplatin-induced ototoxicity.

Finally, Unibail-Rodamco-Westfield (URW) announced that on December 30 it had finalized the sale of two Westfield shopping centers in Trumbull (Connecticut) and Bay Shore (New York) to a commercial real estate investment company.

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