After spending most of the day in the red (around -0.2%), the Paris Bourse timidly lifted its head in the last few minutes of trading to gain +0.11%, at 7209 points, at the end of a day marked by low volumes, with just 2.5 billion euros traded since the opening.

On the statistics front, investors were informed in the morning of a 0.4% decline in manufacturing orders in Germany (against expectations of stability in April), according to provisional results from Destatis.

Retail sales also remained unchanged in the eurozone in April compared with the previous month, according to data published on Tuesday by Eurostat. According to estimates by the European Union's statistics office, the volume of retail trade in non-food products rose by 0.5% month-on-month.

Laura Corrieras, equity portfolio manager at Indosuez Wealth Management, believes that 'a liquidity crisis could even threaten the markets, with the risk of destabilization, not to mention the persistent uncertainties surrounding growth that are keeping market participants on their toes'.

In addition, we see a clear dissonance between the Fed's no rate cut policy, the resilience of equity markets and bond market expectations - which include several rate cuts this year'

The yield on 10-year Treasuries edged down +3pts to 3.723%, despite the prospect of a status quo from the Fed at the end of next week's meeting.

On the Old Continent, yields are stagnating: the 10-year Bund, the eurozone's benchmark rate, is down by one basis point at 2.384%, while our OATs are the same at 2.934%.

In the energy market, benchmark crude oil contracts are resurfacing a little after having fallen by -2% in the morning on profit-taking, after having rebounded vigorously yesterday in reaction to OPEC's promise to cut production in order to support prices.

Brent crude is now down just 0.2% at $76.4 a barrel, while US light crude (West Texas Intermediate, WTI) is back to a perfect balance at $72, compared with $70.15 this morning.

In other French news, Stellantis and Galloo, a leading metals recycler, announce that they have signed a memorandum of understanding to begin negotiations to create a joint venture specializing in the recycling of end-of-life vehicles (ELVs).

Renault reports that Renault Nissan Automotive India (RNAIPL) is progressing towards its goal of carbon neutrality by 2045. The company will achieve several important milestones in sustainable development between now and 2030.

EDF announces plans for a new issue of dollar-denominated hybrid bonds and launches an offer to repurchase an existing tranche of dollar-denominated hybrid bonds.

Thales and Mastercard today announced the signature of a memorandum of understanding confirming their international cooperation in mobility-related ticketing and payment activities.

Finally, UBS maintains its Buy recommendation on Rémy Cointreau shares, but lowers its target price from E183 to E179. Despite a milder fiscal year 2024, we believe that Rémy Cointreau is still on track to deliver an EBIT margin above 30% ahead of its initial plan", explains the analyst.

Copyright (c) 2023 CercleFinance.com. All rights reserved.