CAC40: driven by a bullish breath at the end of the session

( – After a rather gloomy session, the Paris Stock Exchange was carried by a bullish breath at the very end of the day, thus concluding the session with a gain of 0.88%, to 7060 points, despite reduced volumes (less than 2.8 billion euros exchanged since opening).

The Parisian index nevertheless lost 1.2% over the past week but has maintained a gain of almost 9% since the start of the year.

Today’s session was largely dominated by the release of the official American employment report for September.

The American economy generated 336,000 non-agricultural jobs in September, according to the Labor Department, a number well above market expectations (Jefferies only expected 150,000).

‘The report could strongly affect monetary policy expectations,’ Duc Nam Pho at Kama Capital said this morning, recalling that ‘the labor market remains resilient and is closely monitored by the Federal Reserve.’

“Weaker-than-expected labor market data could support stock market performance and lower yields as traders can price in a looser Federal Reserve stance,” he continued.

Operators also took note, at the start of the morning, of the French trade balance and orders to German industry for the month of August.

In August 2023, France’s trade balance deteriorated slightly according to CVS-CJO data from the customs administration, the deficit thus increasing to 8.2 billion euros after 8.1 billion in July .

After an 11.3% plunge in July (revised from a provisional estimate of -11.7%), German industrial orders rebounded 3.9% in August from the previous month, according to adjusted data seasonal and calendar.

On the value front, after having lost more than 37% yesterday, Alstom again moved into negative territory, losing up to 6% before catching up at the end of the session and concluding with a limited loss of 0.8%.

Renault and Volvo will create a company dedicated to the development of a whole new generation of electric vans. CMA CGM will also join the new company.

This new, fully electric Software-Defined Vehicle (SDV) range will be launched by the new company. Production is expected to begin in 2026.

Crédit Agricole, after having received all the necessary authorizations from the supervisory authorities, announces the launch of a repurchase program of up to 26,835,641 shares by January 26, with a view to their cancellation.

Valeo announces that it has carried out an inaugural issue of green bonds, worth 600 million euros, to which the European Investment Bank (EIB) subscribed for an amount of 150 million.

Sanofi would consider the acquisition of Mirati Therapeutics according to Bloomberg. This company specializes in the development of anticancer products. ‘The company is developing several clinical products including two studies of Ph III and 5 in Ph II, as monotherapy or in combination in different cancer indications’ indicates Invest Securities.

AXA gains almost 2.4% and thus clearly outperforms the CAC40, supported by favorable comments from Oddo BHF which cites the title of the French company among its preferred stocks within large European insurance capitalizations.

Finally, Alstom announces an acceleration of its pre-validation test campaign for the future TGV INOUI (5th generation equipment called TGV M), with the first circulations this month of a second train on the French national rail network.

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