(News Bulletin 247) – The flagship index of the Paris market is increasing this Friday, before the publication of the report on American non-agricultural employment. Prices may be supported by press reports reporting economic support measures from China.

The break didn’t last long. The CAC 40 is progressing significantly this Friday, rising 0.8% to 7,488.96 points at mid-session, after falling 0.1% the day before. For now, the Parisian index is up almost 2% over the week.

The market is certainly driven by information surrounding China. According to local state media cited by Reuters, the politburo of the Chinese Communist Party has decided to stimulate domestic demand and support economic recovery, in particular by implementing a “proactive” budgetary policy.

This gives a boost to the prices of luxury groups, a sector very exposed to China. Kering takes 2.7%, LVMH 2.4% and Hermès 1.4%.

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Airbus at its highest

Investors are especially awaiting the publication, Friday afternoon, of the American employment report for November, at 2:30 p.m.

“One of the key variables in determining whether the American economy can achieve a soft landing, without too many adjustments, is the situation on the labor market. We see it decelerating, but not collapsing. Today, the employment report will give us a diagnosis”, underlines Sebastian Paris Horvitz, from LBPAM.

On the value side, outside of luxury, Airbus pushes back its historic highs, gaining 1.1%. The aircraft manufacturer is supported by Deutsche Bank which has returned to buying on the value, judging that the tensions on its supply chain are easing.

Conversely, the German bank went from “buy” to “hold” on Safran, which suddenly lost 0.5%.

Vivendi gains 2.5%, driven by its future return to the CAC 40 index. Alstom gains 1.4%, despite a lowering of JPMorgan’s recommendation from “overweight” to “neutral”. The market can perhaps breathe a sigh of relief, Alstom having been kept in the CAC 40 by the scientific council of Euronext, while speculation about its exit was high.

On other markets, the euro dropped 0.1% to 1.0782 dollars. Oil is moving forward. The February contract on North Sea Brent gained 2% to $75.55 per barrel, while the January contract on WTI listed in New York also gained 2% to $70.75 per barrel.