CAC40: slightly positive bias for the start of the session

(CercleFinance.com) - The Paris Bourse could start the session on a timid rebound, with futures on the CAC40 up by around 10 points at around 7535, the day after the Paris index fell by just over 0.
7% in a generally worrying context.

Alexandre Baradez, head of market analysis at IG France, commented on Tuesday: "Whereas only a few days ago the CAC40 was still trading in the 7,800-point zone, it is now making inroads below 7,500 points, under pressure from three factors.

He pointed to geopolitical stress with the escalation of tensions in the Middle East, political developments and budgetary issues in France, and the postponed expectations of rate cuts in the USA.

'Whether in the USA or in Europe, there's probably also a bit of hedging going on ahead of the corporate earnings season, which starts in a few days' time. But also a bit of hedging ahead of the US election in a month's time", he added.

While waiting for the real kick-off to the earnings season, which will be given on Friday by JP Morgan Chase, traders should be paying close attention this evening to the minutes of last month's Fed monetary policy meeting (FOMC).

There is no debate on the direction of policy (easing), but on the speed of adjustment", said Oddo BHF at the start of the week, estimating that the minutes of the last FOMC meeting "will perhaps shed some light on this point".

In Paris stock news, Kering announced the appointment of Stefano Cantino as CEO of Gucci, reporting to Francesca Bellettini, the group's deputy CEO in charge of corporate development.

Sanofi reports that new data on its Beyfortus, confirming its real-life efficacy against RSV infections in infants, will be presented at IDWeek 2024, to 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 euro per share at the beginning of December, and to cancel 4,268,227 of its own registered shares, representing 2.03% of its share capital.

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