The Paris stock market ended the session with a limited gain of 0.27%, at 7022 points, in limited volumes (barely 2.5 billion euros traded since the opening) and far from the dynamism seen on Wall Street, where the S&P500, Dow Jones and Nasdaq are currently gaining more than 1%.

On the statistics front, the eurozone's trade balance showed a surplus in August.

According to these initial estimates, the region recorded a surplus of 6.7 billion euros in its trade in goods with the rest of the world in August, compared with a deficit of 54.4 billion euros in August 2022, a figure that had been weighed down by the sudden rise in energy bills.

Exports of goods from the Eurozone to the rest of the world totaled 221.6 billion euros, down 3.9% on August 2022, while imports fell by 24.6% year-on-year to 285 billion euros.

Across the Atlantic, manufacturing activity declined in the New York region, according to companies responding to the local Fed's Empire State Manufacturing survey in October, with its overall index down seven points to -4.6.

In the coming days, investors will be focusing on quarterly corporate results.

Results from 55 S&P 500 companies are expected this week, including those of five Dow Jones constituents, including Goldman Sachs, J&J and American Express.

In the technology sector, investors will be particularly attentive to the results of Tesla and Netflix, expected on Wednesday evening.

Apart from corporate results, the week ahead will also be rich in statistics.

Tuesday will see the publication of the ZEW index of German investor sentiment, followed by US retail sales, before Eurozone consumer prices the next day.

US housing starts and building permits will also be on the agenda on Wednesday, and the list will continue on Thursday with jobless claims, Conference Board leading indicators and US existing home sales.

On the bond front, the recent easing of long-term yields is helping to calm sellers, even if the fall in yields does not really reflect a shift to risk-off, which would be understandable in view of the risk of conflagration in the Middle East.

The week opens on a consolidation of the bond markets, with yields up 4pts on our OATs to 3.402% and on Bunds (up 4.7pts to 2.78%).
US T-Bonds posted +7Pts to 4.700%, wiping out Friday's gains.

On the energy market, Brent crude oil consolidated (-1% to $90) after last week's sharp 6% rise at the end of a weekend marked by a lack of escalation in the Middle East... but which only seems to be a respite.

In French company news, Le Groupe announces that on Friday October 13, 2023, its Board of Directors approved the signature of a preliminary agreement with Grupo Calleja for the sale of Casino's entire stake in Almacenes Éxito, corresponding to 34.05% of Groupe Éxito's share capital.

Latecoere becomes strategic supplier to Deutsche Aircraft for all doors on the D328eco 40-seat regional turboprop aircraft.

Thales and the Royal Netherlands Air Force (RNLAF) strengthen their partnership with the supply to the Netherlands of a System Life Extension Program (SLEP), which will benefit 13 ILS (an instrument landing system that guarantees approach accuracy and landing safety) and DME (a system that guides aircraft en route and on approach) devices.

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