(CercleFinance.com) – The mood is rather gloomy on the European stock markets, where Paris, London and Frankfurt are moving at levels very close to their equilibrium level (± 0.1%).
On the statistics front, Eurostat has just announced a very slight decline in unemployment in the euro zone, having increased from 6.5% to 6.4% between July and August 2023.
Same trend in the EU where the unemployment rate fell slightly from 6% to 5.9%.
Still in the euro zone, the HCOB PMI index for the manufacturing industry fell very slightly compared to the previous month, from 43.5 to 43.4, signaling a further deterioration in the industrial situation in the zone.
The news also remains marked by the agreement reached at the last minute across the Atlantic in order to avoid a ‘shutdown’, that is to say a partial closure of the federal administration in the United States.
‘The agreement for provisional financing will only last until November 17,’ Commerzbank recalls, however, warning that ‘consequently, a new edition of the budgetary drama is looming in a few weeks’.
In the meantime, this agreement will make it possible to avoid a postponement of the publications of certain American statistics, such as industrial orders and the trade balance for the month of August, and especially the official employment report for September.
In European company news, BAE Systems said it has been awarded £3.95 billion in funding from the UK Ministry of Defense for the next phase of the UK’s attack submarine program next-generation nuclear-powered aircraft, known as SSN-AUKUS.
Novartis reports positive top-line results from its Phase III APPLAUSE-IgAN study, with its iptacopan demonstrating a clinically and statistically significant reduction in proteinuria in patients with IgA nephropathy (IgAN).
Finally, Solvay announces that it plans to build a new electric furnace at its silica production site in Collonges, France, with commissioning planned for 2025. This will allow a 20% reduction in CO2 emissions from this site.
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