(News Bulletin 247) – The CAC 40 is moving a little in the green midway through this Friday’s session. Downgraded to “sale” by UBS, Renault suffers.

The Paris Stock Exchange holds its breath. The CAC 40 advanced 0.32% to 7340.36 points at mid-session on Friday, firmly awaiting the report on non-agricultural employment in the United States which will be published at 2:30 p.m.

According to a consensus of Wall Street Journal, economists expect an average of 170,000 job creations in August and a stable unemployment rate of 3.5%.

But the most followed data will perhaps be the increase in hourly wages, expected at 0.3% by the consensus. Because the Federal Reserve (Fed) will hold a monetary policy meeting in a few weeks and the market is wondering about the decision on its rates.

“The persistence of inflation this summer and the rebound in consumption at the start of the summer maintain the risk that the Fed will raise its rates again in September, even if our scenario remains for stable rates”, notes Xavier Chapard of LBPAM.

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Renault cleared from the road by UBS

As for values, Renault is struggling, losing 5%, while UBS downgraded its advice on the value to “sell”, worrying about competition from Chinese players and the valuation of its future subsidiary dedicated to the electric, Ampere.

Biomérieux dropped 3.05% after publishing half-year results marked by a sharp drop in profitability, due to rising marketing costs and salaries.

Note that with its decline (-0.6%) LVMH is more than ever threatened by the Danish Novo Nordisk for the title of the largest European market capitalization. The pharmaceutical group passed in the morning in front of the luxury specialist, according to Reuters. At mid-session, the two companies are neck and neck (390.2 billion euros for Novo Nordisk and 390.4 billion for LVMH).

The oil and oil services groups are gaining ground, Vallourec takes 2.1% and TotalEnergies 2.1% while the price of black gold is progressing.

The contract on Brent from the North Sea for delivery in November is thus awarded 1.1% to 87.77 dollars a barrel while that of October on WTI listed in New York also takes 1.1% to 84, $56 a barrel.

According to AFP, Russian Deputy Prime Minister Alexander Novak said members of OPEC+ (the Organization of the Petroleum Exporting Countries plus allies like Russia) agreed on new production cuts.

Regarding currencies, the euro is stable against the dollar at 1.0845 dollar.