With European stock markets expected to fall, China is setting a growth target of around 5% for 2024. The Eurostoxx 50 opened at 4,912.92 points (+0.37%), the CAC 40 at 7,956.41 points (+0.28%), the DAX 40 at 17,716.17 points (-0.11%), the FTSE 100 at 7,640.33 points (+0.37%), the SMI at 11,477.80 points (-0.14%), the AEX at 856.55 points (-0.11%), the FTSE 100 at 7,640.33 points (-0.55%), the SMI at 11,477.80 points (-0.14%), the AEX at 856.55 points (-0.11%), the FTSE 100 at 7,640.33 points (-0.55%), the SMI at 11,477.80 points (-0.14%), the AEX at 856.55 points (-0.11%), the FTSE 100 at 7,640.33 points (-0.55%) 29%), the BEL 20 at 3,672.25 points (-0.72%), the IBEX 35 at 10,069.80 points (+ 0.05%), the DJIA at 38,989.83 points (-0.25%), the Nasdaq at 16,207.51 points (-0.72%), the Nasdaq at 16,207.51 points (-0.72%), the S&P 500 at 5,130.95 points (-0.12%), the Nikkei 225 at 40,097, 63 points (-0.03%

).

As for exchange rates, the change from the close indicates that in New York, EUR/USD is 1.0853 (-0.03%), EUR/JPY is 163.32 (-0.06%), and USD/JPY is 150.50 (-0.03%).

The credit rating agency Moody's has lowered the credit rating of distributor Fnac Darty from “Ba2" to “Ba3", with a stable outlook. Moody's believes that, given weak demand, continued inflation, and the gloomy economic outlook in Europe, the company's earnings and margins are unlikely to improve significantly over the next two years, after reaching a low point

in 2023.

Today, investors will pay attention to the final PMI services index figures in February, as well as to industrial production data in January. Thales presents its annual results, while Coface is organizing an investor day. Before this event, the credit insurer unveiled new financial objectives for 2027 on Monday evening as part of a new strategic plan called “Power the Core”. For its part, the mining group Eramet has concluded an agreement with the State in order to strengthen the balance sheet of its struggling New Caledonian subsidiary Société Le Nickel (SLN). Under this agreement, the State and Eramet will convert their existing loans to SLN into quasi-equity instruments.

While China has announced an ambitious growth target of around 5% for 2024 and investors expect a series of indicators on activity in the service sector in Europe and the United States, European equity markets are expected to open lower on Tuesday.

According to data from broker IG, the FTSE 100 contract fell by 18 points, or 0.2%. The CAC 40 futures contract lost 23 points, or 0.3%, while the DAX 40 futures contract lost 67 points, or 0.4%. Economists said that Beijing's growth target for this year, announced by Prime Minister Li Qiang at the start of the plenary sessions of the Chinese Parliament, will require new stimulus measures as challenges mount for the world's second-largest

economy.

Economists estimate that it will not be easy for China to achieve growth of around 5% this year, in a context marked by a deep housing crisis, deflationary tensions, deflationary tensions, depressed household consumption and geopolitical tensions and growing trade with the West. Economists expected Beijing to set a gross domestic product (GDP) growth target of around 5 percent for this year, while market consensus predicted only an expansion of

4.6 percent.

The Hang Seng Index dropped 2.6% at the end of trading in Hong Kong, while the Shanghai Composite Index gained 0.1%. In Tokyo the Nikkei index finished just below balance, at 40,097.63 points, not far from the historic record of 40,109.23 points

set on Monday.

This morning, US Treasury bond yields fell slightly. Analysts at BNP Paribas Markets 360 noted in a note that the valuation of ten-year US Treasuries is low, but not tense, and it is best to be patient before buying. They believe that there is a risk that returns will increase more than previously expected given recent data on growth and inflation in the United States, which are stronger than expected. They therefore expect a fluctuation range of 3.9% to 4.4% for 10-year Treasury bills in the coming months. The 10-year bond rate stood at 4.212 percent at 7:25 a.m., against 4.216 percent

on Monday evening.

The euro fell 0.1% against the greenback at 1.0850 dollars. According to ING, the euro could give way if the ECB discusses the conditions for a cut in interest rates at its meeting on Thursday, but any drop in the currency will be limited. The president of the ECB, Christine Lagarde, may refrain from providing clear indications on an upcoming easing of monetary policy. ING believes that the monthly report on non-agricultural employment in the United States, expected on Friday, could have a greater impact on the Euro-dollar pair than the ECB's announcements

.

According to Vivek Dhar, an analyst at CBA, the moderate growth in global oil demand should be the main policy challenge for OPEC+, a group comprising the Organization of Petroleum Exporting Countries (OPEC) and ten allies, in the coming months. At around 7:15am, the April contract on soft light crude (WTI) listed on Nymex lost 35 cents, to 78.39 dollars per barrel, while the May contract on North Sea Brent lost 26 cents, to

82.54 dollars per barrel.