CAC40: expected to decline before a wave of data

(CercleFinance.com) - The Paris Bourse is headed for a sluggish opening, with futures on the CAC40 down 41 points to 7483, for a session marked by the release of numerous statistics, particularly concerning economic growth.


Announced an hour ago, French GDP growth in volume terms accelerated moderately in the third quarter of 2024, according to Insee: it rose by 0.4%, after +0.2% in the second quarter, boosted by the Paris Olympic and Paralympic Games.

Other data due in the morning include first GDP estimates for Germany and the eurozone, as well as the European Commission's ESI economic sentiment indices.

By mid-day, the focus will turn to the USA, where the ADP survey of private-sector employment for October is due to be released, followed by the first estimate of economic growth for the third quarter.

According to Michael Brown, senior research strategist at Pepperstone, the US economy is expected to have grown 'at an annualized rate of around 3%, marking the eighth quarter of the last nine with growth above 2%'.

Finally, the results calendar is once again busy, with Microsoft and Meta due to publish their results after the close", also points out the strategist, recalling that Alphabet unveiled solid figures on Tuesday evening, particularly concerning its cloud revenues.

In Paris too, the quarterly publication season is in full swing: Schneider Electric, Capgemini, bioMérieux and M6 have just unveiled their nine-month sales figures, following those of Saint-Gobain and Eutelsat the previous evening.

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