(CercleFinance.com) – After a hesitant morning, the Paris Stock Exchange regained color in the second part of the session: at the final gong, the Parisian index gained 0.68%, to 6932 points, with the help of Worldline (+3%), Teleperformance (+2.8%) and Engie (+2.3%).
Activity logically remained modest on All Saints’ Day (a public holiday in France, Italy, Spain and other European countries) with less than €2.5 billion exchanged since the opening.
On the statistics front, the private sector in the United States generated only 113,000 new jobs in the month of October, according to the monthly survey published this Wednesday by ADP, a specialist in the outsourcing of human resources management. .
Furthermore, the leading index of manufacturing activity, the ISM, contracted for the 12th consecutive month in the United States in October, with a pace which even increased compared to the previous month, at 46, 7 last month against 49 (the ISM was expected unchanged).
The most marked declines affect the sub-indexes measuring new orders (fall from 49.2 to 45.5) and employment (46.8 against 51.2), both of which fell below the 50 point mark which separates contraction and growth of activity.
The picture is hardly different from the S&P Global manufacturing PMI, which ultimately came out at 50 for the past month, in line with its flash estimate and after 49.8 for September.
It’s also a busy day on the results side with mainly publications from Qualcomm, Mondelez, PayPal, Estee Lauder, Kraft Heinz, Electronic Arts and DuPont.
The high point of the session will be at 7 p.m., when the FED will publish its monetary policy statement at the end of the FOMC which began yesterday: Jerome Powell will speak at a press conference scheduled around thirty minutes later .
The Federal Reserve is not expected to change its key rates, but investors expect the institution to provide valuable clues as to the evolution of its strategy for the months to come.
On the oil front, crude prices are falling and the break of $88 is validated on the ‘Brent’ with -1.7% to $86 in London (after an initial decline of -2% towards $85.8) .
No notable change in the status of weekly crude oil inventories in the United States: data published by the United States Energy Information Administration (EIA) shows that crude oil inventories in the United States rose to 421.9 million barrels during the week of October 23, marking a modest increase of 0.8 million barrels compared to the previous week.
In French company news, Airbus announces a firm order from Air Niugini, the national airline of Papua New Guinea, for six A220-100s as part of the modernization of its fleet. In addition, it will acquire three A220-300s and two A220-100s from third-party lessors.
Schneider Electric announces that following the agreement signed on October 27, 2022, it has now finalized the previously announced sale of its industrial sensors business, Telemecanique Sensors, to YAGEO.
Finally, Stellantis (+1.8%) announced on Wednesday the creation of a new management team in China with the stated aim of ensuring the proper execution of its strategic partnership with the electric car manufacturer Leapmotor, of which it now owns 20 %.
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