After publishing sales in line with its expectations but slightly lower than analysts' forecasts in the third quarter, the catering group Sodexo confirmed on Tuesday its forecasts for the fiscal year ending at the end of August 2024. Candidates qualified at the end of the first round of the legislative elections have until Tuesday at 6 pm to apply for the second round.

After an increase in French assets and the euro on Monday, driven by the prospect of a “republican front” to prevent the National Rally (RN) from obtaining an absolute majority in the second round of the legislative elections in France, the markets European stocks are expected to open lower this morning. At around 7:30am, the CAC 40 futures contract lost 4.3 points, or 0.1%, according to data from broker IG. The one on the DAX 40 dropped 28.6 points, or 0.2%, and the one on the FTSE 100 fell by 24.1 points, or 0.3%

Investors will be watching the June preliminary consumer price index and the May unemployment rate for the eurozone on Tuesday. They will also be attentive to the interventions of the central bankers who have been meeting since Monday in Sintra, Portugal, at the invitation of the European Central Bank (ECB). The Chairman of the US Federal Reserve (Fed), Jerome Powell, and the President of the ECB, Christine Lagarde, will speak on Tuesday at a roundtable on monetary policy. The New York Stock Exchange ended higher on Monday, in the wake of tech stocks. The Nasdaq Composite gained 0.8%, setting a new all-time high of 17,879.30 points. For its part, the study carried out by S&P Global gives a different picture of the economy, with slight growth in June and May. The ISM index rose to 48.5 last month, up from 48.7 in May, while the S&P Global PMI rose to 51.6.
Asian equity markets are trading in the green on Tuesday morning. The Nikkei index on the Tokyo Stock Exchange gained 1% at the end of the session. The Hang Seng rose 0.6% in Hong Kong and Shanghai Composite gained 0.03%.

This morning, US Treasury yields are changing shortly, after their sharp increase the day before. Around 7:20 a.m., the US Treasury bond rate dropped 2 basis points, to 4.445%. The two-year stock's return gained about 1 basis point, to 4.762%. DBS reported that “duration continued to decline in developed markets [Monday] as operators continued to digest political events in the United States and Europe.” This withdrawal is probably partly due to the idea that the extreme right should not manage to obtain a majority in Parliament in the second round of the legislative elections in France. According to DBS, a certain relief led to a reduction in the gap between the 10-year French OAT rate and the German Bund rate at the same maturity. At the end of the second round, “the gap still includes considerable tensions that should not significantly disappear before the confirmation of a Parliament without a majority in France”.

This morning, the euro gave ground against the dollar but appreciated against the yen. The greenback is also increasing against the Japanese currency. Westpac indicated that apart from interventions by central bankers, the ISM services index and the employment report expected this week in the United States could be decisive for the evolution of the dollar. The latest indicators published in the country proved to be mixed, while Fed officials mentioned both the persistence of inflationary risks and the possibility of a slowdown in inflation over the rest of the year

Due to the prospects of stronger demand this summer, oil futures are trading slightly higher on Tuesday morning. BMI, a division of Fitch Solutions, reported that global oil demand is increasing during the summer months and major exporters, especially in the Middle East and North Africa, are forced to cut exports to meet rising domestic consumption. According to BMI, these export cuts are likely to be particularly pronounced in 2024, while OPEC+ production restrictions remain in place. At 7:10am, the September contract on North Sea Brent gained 20 cents, at 86.80 dollars per barrel, while the August contract on light sweet crude (WTI) listed on the Nymex rose 13 cents, to 83.51 dollars per