(News Bulletin 247) – The Parisian index ended Friday’s session up 0.85%, after the publication of excellent American employment figures. But on a weekly basis, the results are heavy (-3.2%), the trend having been weighed down by geopolitical risk.

American employment saves the Paris Stock Exchange weekend. The CAC 40 closed sharply up 0.85% at 7,541.36 points on Friday evening, supported by the strength of the health of the job market in the United States.

In September, the American economy actually created 254,000 jobs compared to 159,000 in August, while economists surveyed by the Wall Street Journal were counting on 150,000 new job creations in September. At the same time, the unemployment rate fell in September in the United States, to 4.1% compared to 4.2% in August.

Good news is really good news

This report was awaited not without some anxiety. The American Federal Reserve (Fed) has repeatedly emphasized that it is very attentive to the state of health of the job market across the Atlantic to steer its monetary policy.

“Given the strength of the labor market highlighted by the September jobs report, the real debate within the Fed should be over whether to ease monetary policy. Hopes for a reduction of 50 basis points (0.5 percentage points) are long gone. We continue to believe the Fed will take a more measured approach, cutting rates by 25 basis points (0.25 percentage points) each time. meeting until the policy rate is between 3.00% and 3.25%,” says Paul Ashworth of Capital Economics.

On a weekly basis, on the other hand, the results are much less flattering. The flagship Parisian index lost 3.21%, buckling under tensions in the Middle East which have clearly weighed on investor sentiment in recent days.

On Thursday, US President Joe Biden indicated that Israel could attack Iran’s oil infrastructure. This clearly boosted oil prices.

This Friday, black gold continues to rise. The December contract on North Sea Brent rose 1.1% to $78.49 per barrel while the November contract on WTI listed in New York rose 1.3% to $74.69 per barrel.

“Undoubtedly, this rise in the price of oil and the growing tensions in the Middle East have affected risk-taking in the markets. Nevertheless, the market remains focused on the evolution of growth and inflation in the major countries , in particular because of their impact on monetary policies”, explains Sebastian Paris Horvitz, of LBPAM.

An exit from the rating for Ubisoft?

On the values ​​front, the excitement came in the afternoon among the residents of the SBF 120. Ubisoft ended with a strong increase of 33.5%, awakened by information from Bloomberg according to which the Guillemot family would consider several options to stabilize the company including a delisting, that is to say a buyout of the company, alongside Tencent.

Elis rebounded by 10%, after announcing in the afternoon that it had ended its discussions with Vestis and Unifirst with a view to a potential merger. This relieves investors, who feared fundraising to finance these potential acquisitions.

The former Orpea, Emeis fell 5.3% after publishing its half-year results.

Scor increased by 4.2% helped by Berenberg who raised his recommendation to buy on the stock.

On the foreign exchange market, the euro fell by 0.7% against the greenback to 1.0959 dollars while the single currency was stable against the greenback before the announcement of monthly American employment figures.