The Paris Bourse (+0.9% to 6,885) is attempting to regain ground on the 6,900 mark, but has plateaued in view of Wall Street's lackluster performance (S&P500 0.2%, Nasdaq -0.05%), despite optimistic expectations regarding the FED.
The E-Stoxx50 gained +0.75% to 4,060, while the DAX gained just 0.55%.
The CAC was boosted by Worldline (+3.5%), Bouygues (+4.6% after the publication of its quarterly results) and Unibail-RW (+3%).

The morning was rich in statistics: in France, GDP growth came out at +0.1% in Q3, after +0.6% the previous quarter, according to Insee's CVS volume data (1st estimate).

In addition, again according to Insee (provisional estimate), consumer prices in France are set to rise by 4% year-on-year in October 2023, a marked deceleration from the +4.9% rate observed in September.

This drop in the annual inflation rate would be due to a slowdown in energy, food and, to a lesser extent, manufactured goods prices, while service prices would accelerate slightly.

U.S. markets are taking a wait-and-see attitude on the Atlantic, while the Federal Reserve's meeting, which opens today, could provide some grounds for hope that the move towards a 'pivot' in its monetary policy is underway.

"We are convinced that the rate hike process has now come to an end (...) and that we are now on the verge of a 'pivot' in monetary policy.) and that we are now entering a period of stability for several months", believes Emmanuel Auboyneau, Associate Manager at Amplegest.

On Tuesday, the Bank of Japan (BoJ) made official a further relaxation of controls on the ten-year Japanese bond yield curve, which is now authorized to move above the 1% ceiling.

On the bond front, the ten-year German Bund yield eased -3.2pts to 2.793%, a trend echoed by our OATs at 3.410% (-3.412pts).
US T-Bonds are undecided, with a ten-year yield of around 4.862% (-1.5pts), a far cry from last week's peak of over 5%.
Note the virtual stagnation of the dollar (around 1.0610/E) and Brent crude oil ($88).

In French company news, conglomerate Bouygues reported net income, group share of 665 million euros for the first nine months of 2023, up 24% on the same period a year earlier, helped by the contribution of Equans.

Stellantis announced on Tuesday that it had maintained positive momentum in the third quarter, despite the impact of the UAW strike. The automotive group said it posted net sales of 45.1 billion euros for the July-September period, up 7% year-on-year thanks to higher volumes and stable prices.

Thales this morning reported sales of 12.9 billion euros for the first nine months of the year, representing organic growth of 7.5% (+4.5% in total variation). Third-quarter sales, however, came in at 3.7 billion euros, well below the market consensus of 4.1 billion.

Finally, food retailer Casino posted third-quarter 2023 sales of 4.56 billion euros, down -5.5% on a reported basis and -5.3% on a like-for-like basis.

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