(News Bulletin 247) – The Parisian index hesitated during this Friday’s session and finally ended in the red. US jobs did not cause a huge stir in the market.

Another relatively indecisive session for the Paris Stock Exchange. In the end, the CAC 40 lost 0.27% to 7296.77 points on Friday. Over the whole of the week, the Parisian index took 0.93%.

The US employment report for August was the big event of the day. Job creations, numbering 187,000, exceeded the consensus which stood at 170,000 units. But the unemployment rate rose from 3.5% to 3.8%, against 3.5% expected by economists. Last point: the hourly increase in wages, of 0.2%, was a little weaker than expected by the consensus (+0.3%), giving reason for hope about the Federal Reserve’s monetary policy expectations US (Fed).

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“The 187,000 increase in non-farm payrolls, the rise in the unemployment rate and slowing wage growth in August all point to labor market conditions approaching pre-pandemic norms,” ​​Capital Economics said. . “This reinforces our belief that the Fed’s next action will be an interest rate cut in the first half of next year,” the think tank continues.

“To be clear, the Fed will not get carried away with today’s report. It is simply a report that needs to be repeated over and over again, but it contains plenty of reasons for optimism. “there was still some doubt that the Fed will take a break in September, today’s report certainly puts an end to that debate,” said Craig Erlam of Oanda.

Renault weighed down by UBS

As for values, Renault suffered, losing 6.25%, 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 1%, after publishing half-year results marked by a sharp drop in profitability, due to rising marketing costs and wages.

Note that with its decline (-0.82%) 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 the close, the two companies were close with nevertheless an advantage for the Danish (395 billion euros for Novo Nordisk and 389 billion for LVMH).

The oil and oil services groups have gained ground, Vallourec takes 1.6% and TotalEnergies 1.4% while the price of black gold is progressing.

The contract on Brent from the North Sea for delivery in November is thus awarded 1.4% to 88.04 dollars a barrel while that of October on WTI listed in New York takes 1.6% to 84.97 dollars per 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 fell 0.5% to 1.0792 dollars.