CAC40: in green, helped by positive momentum on Wall Street

(CercleFinance.com) - The Paris Bourse closed the session with a gain of 0.
52%, at 7560 points, benefiting in particular from rises by Renault (+3.3%), Legrand (+2.1%) and Vinci (+2%), as well as momentum on Wall Street, where the S&P500, Dow Jones and Nasdaq gained between 0.4% and 0.6%.

Even so, the CAC remains subject to geopolitical stress, with escalating tensions in the Middle East, political developments and budgetary issues in France, as well as postponed expectations of rate cuts in the USA.

'Whether in the USA or Europe, there's probably also a bit of hedging going on ahead of the corporate earnings season, which kicks off in a few days' time. But also a bit of hedging ahead of the US election in a month's time", says 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, traders should pay close attention, this evening at 8pm, 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 "will perhaps shed some light on this point".

On the bond front, T-Bonds rallied by a symbolic +1.2Pt to 4.04%, while German Bunds of the same maturity were at 2.25% (+0.8Pt only) and OATs added +1.3Pt to 3.03%.
The euro lost 0.25% against the greenback, to $1.095/E, while gold continued its consolidation towards $2,615/2,620.
Oil lost -1% to $76.6 despite the arrival of Hurricane Milton, as weekly oil inventories rose ahead of the closure of several facilities due to impending bad weather.

Data published by the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories stood at 422.7 million barrels for the week ending September 30, up 5.8 million barrels on the previous week.

In Paris, 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 effectiveness in real-life situations 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 capital. In addition, Thales Canada announces the signature of a contract with the Canadian government for the acquisition of Sophie Ultima portable thermal imaging cameras.


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