The Paris Bourse ended the session with a gain of 0.74%, at 7,095 points, taking nearly 10% off the year to date. The CAC benefited in particular from the performance of STMicro (+8.2%) following the announcement of net income for 2022 almost double that of 2021 (see below).

Performance was more mixed on the other side of the Atlantic, with the Dow Jones down 0.2%, the S&P500 stable and the Nasdaq up 0.4%, helped by Tesla (+9%).

On the statistics front, the 1st estimate of US growth in the fourth quarter came in at 2.9%, in line with consensus forecasts of between 2.6% and 3.2% (GDP had climbed by +3.2% in Q3).

New home sales rebounded by +2.3% in December 2022, to a seasonally-adjusted annualized volume of 616,000, according to the Commerce Department.

The previous month, sales had risen by 0.7% (revised from the initial estimate of +5.8%).

At 461,000, the inventory of new homes ready for sale at the end of December represented a nine-month supply at the current rate of absorption.

Also according to the Commerce Department, orders for durable goods jumped by 5.6% last month in the United States, following a 1.7% decline in November (versus +2.5% expected).

Orders for non-aeronautical civil capital goods, a closely watched benchmark for business investment projects, nevertheless fell by 0.1% in December.

On the other hand, orders for transport equipment rose strongly (+16.7%) in December, marking their fourth increase in the last five months.

Finally, US jobless claims fell by a further 6,000 in the week to January 16, to 186,000 from 192,000 (revised from 190,000) the previous week, according to the Labor Department.

The bond markets, which were stable this morning, are easing slightly: T-Bonds are +3Pts at 3.496%.
The deterioration is more marked on our OATs (+6Pts 2.665%) and Bunds (+5Pts 2.2080%).

With robust US GDP, 'WTI' oil rebounds 1.4% to $81.45 a barrel, and 'Brent' to $87.5 a barrel.

The results season, so far disappointing, should also continue to drive the trend, as investors become aware of the impact of the global economic slowdown on corporate accounts.

In company news, STMicroelectronics reported net income almost double that of 2021, to $3.96 billion, and an operating margin up from 19% to 27.5% year-on-year. Sales of the Franco-Italian semiconductor manufacturer rose by 26.4% to $16.13 billion.

Getlink unveils sales of almost 1.61 billion euros in 2022, an increase of 107% at constant exchange rates compared with 2021, 'setting a new all-time high since the group's creation'.

SES-imagotag reports a 46.4% increase in sales to 619.1 million euros for 2022, the highest level of annual sales in the history of the specialist in electronic gondola labelling for the retail sector.

Reworld Media announces that its Italian subsidiary has signed a licensing agreement with Heart Media Group to launch its recently acquired Grazia brand internationally, in Singapore and Malaysia.

Finally, Leonardo and Safran Helicopter Engines today announced a partnership to enhance the capabilities and competitiveness of the new-generation single-engine AW09 helicopter. The 1000 shp Arriel 2K engine will power Leonardo's new light helicopter as standard.

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