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Market: Towards a bad start to the month


(CercleFinance.com) – Down around 0.9% to 5,710 points, futures on the CAC40 augur a start to October on the wrong foot for the Paris Stock Exchange, pending many economic indicators that will follow one another over the coming week.

After the PMI indices for the manufacturing sector on Monday, those for services and the entire private sector will appear these days, as well as other European data such as producer prices and retail sales in the euro zone.

In the United States, in addition to the PMI and ISM indices, operators should be attentive to the ADP firm’s survey on private employment, and especially to the monthly employment report from the Department of Labor, scheduled for next Friday.

‘Significantly weaker US data seems to be the only thing that could make the FOMC change its position,’ Capital Economics said last Friday, adding, however, that it forecast ‘relatively strong’ data for September.

In securities news, Societe Generale has announced that its board of directors has decided to propose Slawomir Krupa as a director to replace Frédéric Oudéa at the May 2023 AGM, then his appointment as managing director.

Worldline announces the finalization of the sale of its Terminals, Solutions & Services (TSS) business line to the Apollo funds, as announced on February 21. From now on, the independent company will operate exclusively under the Ingenico name.

Technip Energies says it has won a ‘large contract’ (between 250 and 500 million euros) to supply proprietary equipment for INEOS Olefins Belgium’s 1450 kilotonnes per year ethane cracker in Antwerp, Belgium.

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