(BFM Stock Exchange) – The Parisian star index has resumed the increase this Wednesday, July 2, and returns above 7,700 points, supported by its luxury sector and Stmicroelectronics. The publication of disappointing employment data in the United States relaunches the hopes of the market as to a drop in Fed rates. Donald Trump made a gesture to Vietnam on customs duties.

First increase in the week and July for the Paris Stock Exchange, relaunched by its cyclical values. Its star index, the CAC 40 closing up 0.99%, to 7,738.42 points, this Wednesday, July 2.

The Parisian square barometer had nevertheless slowed down after the publication of the statistics of the day, namely the report on the US employment of the ADP for the month of June.

This survey expressed unexpected deterioration in the job market in the United States last month. Some 33,000 jobs were destroyed in June, while consensus awaited increased hiring.

A weekend weekend at Wall Street

“The ADP report shows the highest slowdown in the labor market since the COVIR crisis,” said Bastien Drut, head of CPRAM’s strategy and economic studies.

“Customs rights increases seem to weigh more and more on the American economy and this should bring the FOMC (Monetary Policy Committee of the American Federal Reserve, Editor’s note) to resume its cycle of rate cuts,” continues the market specialist.

Recall that this survey is an imperfect prelude to the official figures of the American Department of Labor which will be exceptionally communicated Thursday, July 3, instead of Friday since Wall Street will be closed for national holidays, on July 4.

The market continues to monitor the smallest declarations on customs duties while the deadline of July 9 is approaching. On this date, all of the customs from customs presented last April by Donald Trump are supposed to come into force.

The American president announced this Wednesday that he had concluded a trade agreement with Vietnam. Vietnam’s imported goods will be struck by a surcharge of 20% at their entry on American soil. , and no longer 46% as initially announced.

On Tuesday, the American president said that he did not think of “a break” on customs duties and therefore pushing the deadline of July 9.

The market does not seem frankly to believe it. “It seems almost acquired that a new delay will be announced soon, which should allow to spend the month of July without too many hassles,” comments Christopher Dembik from Pictet AM.

Luxury continues to come back

In terms of values, Stmicroelectronics rebounded by 5.3% while UBS judges in a note that the results of the second quarter of the group will push the consensus to review its benefit anticipations by Action 2025 “for the first time in several years”.

Luxury groups regain colors. LVMH increased further by 4.15%, the day after a gain of 4.4% and the publication of a note from Goldman Sachs who confirmed his advice to the purchase on the title and added it to his “List conviction”, that is to say the values ​​on which the bank has a very strong and differentiating opinion.

Euronext sold 1.2% after confirming having views of the Athens Stock Exchange operator.

Argan for its part fell 1.4% after delivering an activity without surprise under the first half.

In the other markets, the euro restores 0.15% against the dollar to 1.1787 dollars. Oil is progressing. The September contract on the Brent de Mer of the North takes 1.65% at 68.22 Dollars per barrel while the August that on the WTI listed in New York gains $ 66.50 a barrel.