The Paris Bourse is consolidating sluggishly: prices are fluctuating between -0.05% and -0.4% (8,025/7,995) in non-existent volumes (E0.95bn), which should mean a session at E2.5bn at 5:35pm.
If the CAC410 were to freeze at around 8,000Pts until Friday (the '4 Witches' session), this would maximize quarterly gains.000Pts until Friday (the '4 Witches' session), this would enable us to maximize quarterly gains, and even cash in on the 'volat' on the 'calls' and 'puts' sold over the last 15 days, since the CAC40, like many other indices, has gained little ground since February 29.

The CAC40 could thus consolidate its 6.5% cumulative gains since the start of the year, while the Euro-Stoxx50 (-0.8% this Monday around 4,920) could gain almost 9%... and the S&P500, which is down by -0.2%, and the Dow Jones by -0.3%, could gain +7%.

"It's often said in the stock market that trees don't grow on trees. But recent years and weeks have shown that this is sometimes the case", says Christopher Dembik of Pictet Asset Management.

Solid corporate earnings, share buybacks and the resilience of the US economy are three of the main factors behind the bullish underlying trend in the stock market", continues the market professional.

"Even if a correction is inevitable this year, the underlying trend remains bullish for the stock market", he judges, pointing to the prospect of future rate cuts by central banks, probably next June, as another element of support.

No European data is due on Monday, but the following days will see the release of the latest inflation figures in Germany and France for February, as well as industrial production in the eurozone and the UK for January.

However, the week promises to be a busy one for statistics in the United States, with various inflation figures, retail sales and industrial production for last month.
Bond markets start the week on a heavy note, with OATs and Bunds down +5pts, followed by +5pts of tension on Italian BTPs.
Marginal deterioration on T-Bonds with +1.5pts to 4.1030%... and gold is still holding its own at $2,180/Oz.

To awaken investors' interest in a rather soporific market, look no further than Bitcoin (+6%), which shattered a new all-time record at $72,500, and - symbolically and for the 1st time - surpassed the value of gold bullion ($71.160)
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In stock news, Sanofi reports further positive Phase II results for amlitelimab, confirming its potential as a best-in-class drug for maintaining response in the treatment of atopic dermatitis.

Spie announces the signature of an agreement for the acquisition of approximately 92% of ICG Group, a leading German provider of turnkey services in telecom infrastructure (for the fiber network and 5G mobile telecommunications).

Thales announces an order from France's Direction Générale de l'Armement (DGA), via the Organisation Conjoint de Coopération en matière d'Armement (OCCAr), for a light operations center (e-POC) for the French Navy's drone-based mine countermeasures system.

Kering is reported by the Financial Times to have begun discussions with PAI Partners' eyewear manufacturer Marcolin. According to the FT, other groups in discussion for this acquisition include EssilorLuxottica, Safilo and the Marchon group.

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