Paris: takes his breath before an avalanche of results – 07/21/2025 at 11:02

(Zonebourse.com)-The Paris Stock Exchange gives 0.2%this morning, around 7805 points, including penalized by Thales (-1.9%) and BNP Paribas (-1.7%). However,

After the banks. Furthermore, a few American tenors in an out of work last week, the results season will experience a real accelerator in the coming days, with the quarterly of no less than 112 companies listed on the S&P 500, five of which appeared on the Dow Jones. Moreover,

The week promises to be just as busy in Europe. Moreover, where the accounts of several heavyweights of BNP Paribas, Dassault Systèmes LHVM, Nestlé, Nokia, Totalenergies or Thales. Nevertheless,

The past week was marked by a ‘break in the Paris market, which sold 0.1% after aligned two consecutive weeks of progression and new Wall Street underperform, like the rest of the European places. For example,

The American president has somewhat destabilized the paris: takes his breath before markets by tightening the tone on commercial issues. Nevertheless, especially with regard to Europe, and accentuating pressure on Jerome Powell, the president of the Fed, to which he accuses not to lower the rates sufficiently quickly. Nevertheless,

Reassured by good consumer resistance in the United States. In addition, by first, well-received quarterly publications, the American equity markets have managed to register new historical highs last week. In addition,

The S&P 500 granted itself a weekly progression and the NASDAQ won around 1.5%, but the Dow Jones remained behind with a decline of 0.1%, still well below its absolute records. Furthermore,

With the season of results that will start to beat its full from this week. Consequently, investors – whose mood has so far varied a lot according to the President’s declarations on trade – will be able to experience the fundamentals of the market through the accounts of the companies. paris: takes his breath before

Large things will start this Wednesday with the quarterly accounts of Alphabet. Tesla in the high technology sector, which should give investors indices on the chances of seeing the upward trajectory which dominates across the Atlantic.

Those of Apple, Amazon, Meta and Microsoft will follow next week.

The ‘Magnificent seven’ index ‘increased by 4.9% this year, an increase lower than that of the S&P 500 which has a gain of around 7% since January 1.

A large part of this sub-performance comes from Apple (-15% in 2025). Tesla (-18%) titles, which partially compensated for the increases in Nvidia, Microsoft and Alphabet.

Hopes based on ‘seven magnificent’, however, still remain so high since their results are expected by analysts up 14.1% in the second quarter, to be compared with an increase of 3.4% for the rest of the S&P, according to factset data.

The economic agenda promises to be a little paris: takes his breath before quieter even if the European PMIs expected on Thursday will allow. you to know if the euro zone continued to display moderate growth in July.

If the increase in military spending in Europe. budgetary support in Germany should give momentum to growth this year, the economic situation remains hampered by the trade conflict with the United States, the persistent difficulties in industry and uncertainty weighing on the Chinese economy.

Bank of America’s strategists recently noted that the valuation of the Europe Stoxx 600 index did not integrate unpleasant potential surprises in terms of activity. which leads them to under-ponde the actions of the old continent.

In terms of central banks. the ECB should maintain its monetary policy unchanged on Thursday in a context of better than expected growth and controlled inflation.

‘With a globally neutral monetary policy. an inflation of return to the objective of 2 % and growth that paris: takes his breath before surprises upwards, there is no need to act immediately’, underline the teams of J. Safra Sarasin.

Like many observers. the Swiss establishment believes, however, that the increase in the euro and the establishment of customs from customs could eventually force the hand of the ECB this fall.

‘If the euro continues to appreciate. a drop in rates in September will become more likely, in our opinion,’ warns the Basel specialist in wealth management.

On the bond compartment, the US T-bonds at 10 years are relaxing around 4.38% (-5pts), the BUND of the same due date evolves at 2.64% (-4.7pts) while the OAT is 3.35% (-4.6pts).

In the news of the tricolor companies. Essilorluxottica announces that it has signed an agreement with the South Korean company Pucore, to acquire all its assets and entities dedicated to the development, manufacture and sale of monomers used in the production of high-indices ophthalmic optics. paris: takes his breath before

Stellantis loses almost 1.5% after the presentation by the car manufacturer of its preliminary figures for the first half of 2025. including a net loss estimated at 2.3 billion euros and an adjusted operational profit valued at 0.5 billion.

Finally. Air Liquide announces to start its new factory in Hwaseong, South Korea: the largest Molybden production plant in the world, it will provide Subleem, its innovative offer of advanced materials, to the main customers of the semiconductor sector.