In positive territory since the opening, the Paris Bourse ended the session with a significant gain of 2% to 7,162 points, driven in particular by Alstom (+4.5%), Renault (+3.7%) and Teleperformance (+3.6%).

Paradoxically, the resumption of the Israeli-Palestinian conflict coincided with an upsurge in market confidence. Wall Street is not to be outdone, with the Nasdaq and S&P500 up 1%.

According to Deutsche Bank, this resilience can be attributed to the accommodative comments made by Lorie Logan, a Fed official with a reputation for being "hawkish".

"Lorie Logan said that higher yields could mean that there is less need to raise Fed rates further, with financial conditions having tightened substantially in recent months", explains the German bank.

On the bond front, the German 10-year bund is trading at 2.78%, the French OAT at 3.33% and US Treasury bonds at 4.65%.

On the statistics front, the US Commerce Department reported a 0.1% fall in US wholesale inventories in August compared with the previous month, following a 0.3% decline in July (revised from an initial estimate of -0.2%).

Traders are now awaiting the results of LVMH, which is due to unveil its third-quarter trading update after the close this evening, kicking off the quarterly publication season on the Paris Bourse.

Among French companies, Euroapi has announced that it has lowered its targets for 2023, now estimating sales growth of between +3 and +5%, compared with +7 to +8% previously.

Maisons du Monde has lowered its annual targets 'due to a deterioration in consumer confidence in Europe, affecting overall non-food consumption in the second half'. Its third-quarter sales are expected to fall by 9.4% compared with the same period in 2022

Getlink announces that its LeShuttle shuttle service carried 211,819 passenger vehicles in September 2023, up 4% on the same month in 2022, benefiting in particular from the impact of the Rugby World Cup.

Eutelsat announces the signature by Marlink of a commitment for Ku-band GEO broadband capacity on board the Eutelsat 10B satellite, covering Europe, the Middle East and Africa, as well as the world's main maritime links.

Stifel maintains its Hold rating on Hermès shares, with an unchanged target price of 1,850 euros. The research firm believes that Hermès should again demonstrate its defensive characteristics in the 3rd quarter of 2023. Stifel thus models sales growth of +14% at constant exchange rates.

Barclays has reduced its target price for L'Oréal from 443 to 423 euros, and is maintaining its 'overweight' recommendation, anticipating organic sales growth of 11.7% for the world's number one cosmetics company in Q3 2023.

Finally, Alstom today announced the first results of the first North American hydrogen train demonstration.
The Coradia iLint carried over 10,000 passengers on more than 130 trips totaling 10,660 kilometers in Quebec this summer, from mid-June to the end of September.

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