CAC40: in green, helped by the positive dynamics on Wall Street

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(CercleFinance.com) – The Paris Stock Exchange concludes the session with a gain of 0.52%, at 7,560 points, benefiting in particular from increases in Renault (+3.3%), Legrand (+2.1%) and Vinci (+2%) as well as the dynamic on Wall Street where S&P500, Dow Jones and Nasdaq rose between 0.4% and 0.6%.

Despite everything, the CAC remains subject to geopolitical stress with the escalation of tensions in the Middle East, the evolution of the political situation and budgetary issues in France as well as the postponed expectations of a rate cut in the United States.

‘Whether in the United States or Europe, there is also probably a bit of hedging taking place before the corporate earnings season which will begin in a few days. But also a little coverage before the American election in a month’, indicates Alexandre Baradez, analyst at IG France.

While waiting for the real kick-off to the results season, which will be given on Friday by JP Morgan Chase, operators should be attentive, this evening at 8 p.m., to the report of the Fed’s monetary policy meeting (FOMC ) from last month.

‘There is no debate on the direction of the policy (easing), but on the speed of the adjustment’, Oddo BHF specified at the start of the week, estimating that the minutes of the last FOMC ‘will perhaps give clarification on this point.

In the bond compartment, T-Bonds increased by a symbolic +1.2Pt towards 4.04% while in Germany, Bunds of the same maturity moved to 2.25% (+0.8Pt only) and the OATs add +1.3Pt to 3.03%.
The Euro lost 0.25% against the greenback, towards 1.095$/E, gold continued its consolidation towards 2,615/2,620$.
Oil lost -1% to $76.6 despite the arrival of Cyclone Milton because weekly oil stocks were up, before the closure of several installations due to imminent bad weather.

Indeed, data published by the American Energy Information Agency (EIA) show that crude oil inventories in the United States amounted to 422.7 million barrels during the week of September 30 signaling an increase of 5.8 million barrels compared to the previous week.

In the news of values ​​in Paris, Kering announces the appointment of Stefano Cantino as general director of Gucci, reporting to Francesca Bellettini, deputy general director of the group in charge of house development.

Sanofi indicates that new data on its Beyfortus, confirming its effectiveness in real-world situations against RSV infections in infants, will be presented at IDWeek 2024, which will be held in Los Angeles from October 16 to 19.

Thales announces that its board of directors has decided to pay an interim dividend of 0.85 euros per share at the beginning of December, as well as to cancel 4,268,227 treasury shares held in registered form, representing 2.03% of its capital. Furthermore, Thales Canada announces the signing of a contract by the Canadian government for the acquisition of Sophie Ultima portable thermal cameras.

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