The Paris Bourse ended the session down 1.19%, at 7,632 points, weighed down by the downturn in the luxury goods sector, with Kering dropping 5.3% behind LVMH and Hermès (-2.6%).

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), as well as by the -70% drop in Swatch's results and, above all, those of Burburry's, which issued a "warning" (-15% on the stock market) and suspended dividend payments.

Wall Street's good performance (+0.7% for the S&P500, which equalled its all-time record, and +1.2% for the Nasdaq Composite, at around 18,615 points) did little to support the European markets, which fell victim to a phenomenon of communicating vessels.

Investors will be able to try to reassure themselves about market fundamentals through a series of company 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 share price 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.
In addition to U.S. corporate earnings, the week will also see the first results of major European stocks.

On the bond front, 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.

In France, the 10-year OAT rate is now hovering around 3.11%, while its German equivalent is at 2.47%.
In the USA, US T-Bonds are yielding 4.21% (+3 basis points).
On Forex, the euro remains stable against the greenback, at $1.09/E.

Central banks will be in the spotlight again this week, with Thursday's meeting of the European Central Bank (ECB), its last before the summer break.

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

In French company news, Carrefour has announced a partnership with GreenYellow for the installation and operation of 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.

Atos (+19%) announces 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.

The European Commission has approved the acquisition of joint control of HyVia by Renault SAS and Plug Power France ('Plug Power'), all based in France.

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