The Paris Bourse will end the session as it began, with a 0.3% decline that accurately reflects the average of trading not only this Thursday, but also over the past week.

The CAC index remains trapped in a 4,540/7,570 range, penalized by Renault (-1.2%), Kering and Unibail (-1.4%): for the past 5 sessions, the index has hovered around the 7,565 mark.565 within 0.3%.

The easing of rates on OATs and Bunds (-1.5Pt to 2.4700% and 1.963% respectively) and Italian BTPs (-4Pts to 3.5710%) maintains optimism about a radical easing of monetary policies in 2024.

With Wall Street's positive reopening having been 'predicted' in early trading, the 0.6% gains in the 'S&P' of the Dow Jones and Nasdaq did not cause prices to lag.

Trading could have been livened up with the 4 US figures of the day, but nothing happened!

No reaction to the downward revision of US third-quarter GDP growth from +5.2% to 4.9% (final estimate).

No reaction to the announcement of a further deterioration in the Philly Fed index, which stood at -10.5 this month versus -5.9 in November, whereas economists were expecting it to be around -3.

The sub-index measuring the evolution of new orders received by companies moved back into the red zone, at -25.6 versus +1.3 last month, as did the employment component, down from +0.8 to -1.7 month-on-month.

On the other hand, the indicator covering prices paid rose to +25.1, compared with +14.8 in November.

No reaction to the -0.5% decline in the index of indicators in November (after -1% in October): the Conference Board, which calculates these figures, anticipates a recession in early 2024.

Weekly jobless claims rose marginally (+2,000 to 205,000) at the end of the week to December 11, up by 2,000 on the previous week's revised figure (203,000, compared with 202,000 initially announced).

The four-week moving average - more representative of the underlying trend - came in at 212,000 last week, down by 1,500 on the previous week's revised average

All of today's data would support the scenario of a "soft landing", or even that of a "fairy tale" ("goldilocks") combining moderate growth and low inflation (no recession, no significant drop in corporate profits).

But investors could be hesitant ahead of the household income and spending figures, which will include the PCE price index, closely watched by the Federal Reserve.

The US bond market reverses course in the late afternoon: 2033 Treasuries, which tested 3.825% (the lowest since mid-July), return to equilibrium.
The dollar falls back to its lowest level since the summer (-0.5% to 101.9 on the '$-Index') against a Euro that is rising towards $1.100.

Oil prices consolidate horizontally at $79.2: the barrel is preparing for a second week of gains as the increasing number of attacks by Yemeni Houthi rebels, close to Iran, against ships in the Red Sea disrupts maritime trade.

In news from French companies, Airbus announces that the Spanish Ministry of Defense has ordered 16 Airbus C295s in Maritime Patrol Aircraft (MPA) and Maritime Surveillance Aircraft (MSA) configurations, a contract worth almost 1.7 billion euros.

Casino announced on Thursday the convening of a forthcoming meeting to enable its shareholders and creditors to vote on the proposed accelerated safeguard plans.

Neoen announced that it had won 104.4 MWp of solar projects in the latest government call for tenders in France, managed by the Commission de régulation de l'énergie (CRE), thus becoming the first winner of CRE calls for tenders to date.

Finally, Groupe Crit announces the signature of a memorandum of understanding for the acquisition of a 57.7% majority stake in Openjobmetis, Italy's sixth largest temporary employment agency, at a price of 16.50 euros per share.

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