The Paris Stock Exchange should open slightly lower on Friday, the day when investors are mainly awaiting the US employment report in the early afternoon, one of the US Central Bank’s favorite barometers to calibrate its monetary policy.
The futures contract for the star CAC 40 index fell by 0.20% around forty minutes before the opening of the session. The day before, it had concluded down 0.82%, but remains up sharply by 3.02% over the first four sessions of the week.
Investors remain focused on macroeconomic data and monetary policies around the world. After being stopped once again in their hopes of a pivot in monetary policy at the end of September, they regained confidence at the start of the week.
A weaker than expected industrial activity indicator on Monday, as well as a first decision by the Central Bank of Australia that was more flexible than analysts’ expectations gave them renewed optimism.
However, the officials of the American Central Bank have not changed their tune, tirelessly reaffirming that the institution’s change of attitude in its fight against inflation, in particular via the increase in its main key rate, was not for right away.
With the jobs report, investors want to know if the labor market is easing with less job creation, which would support a slowdown in inflation and therefore a Fed pivot . The tighter a job market is, the more pressure there is for wage increases, which generally drives up prices.
But employment figures have exceeded the consensus four months in a row, said Stephen Innes of Spi AM.
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It will then be time for investors to look ahead to the third quarter corporate earnings season, which really begins next week.
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Poultry producer LDC (Le Gaulois, Lou, Marie brands) announced on Thursday that it had taken over the Matines brand from the Avril group, the French number one in table oils, from which it also wants to buy the company Ovoteam, which specializes in egg-based products. It also announced a 14.2% increase in its turnover, to 1.4 billion euros, in the first half of its staggered fiscal year.