(BFM Stock Exchange) – The Parisian index gained ground this Thursday, July 3, after a best than expected American employment report. Investors also remain attentive to the latest developments in customs duties.

The Paris Stock Exchange offers a second increase session, welcoming the resistance of the job market in the United States. Its star index, the CAC 40 closing up 0.21% to 7,754.55 points, this Thursday, July 3.

The latest employment report therefore held all its promises, especially since these data are always followed to try to anticipate the next movement of the American federal reserve. Traditionally unveiled on the first Friday of the month, the publication of these figures was put forward on Thursday due to the closure of the American markets, for the national holiday of July 4.

And the June figures show an impressive solidity of the job market across the Atlantic, with 147,000 non-agricultural jobs, nearly 40,000 more positions than the consensus awaited (106,000 job creations). The unemployment rate reflected at 4.1%, where consensus awaited an increase at 4.3%, compared to May (4.2%).

The growth of average salary slowed down to 0.2% in June against a consensus that awaited an increase of 0.3% and after 0.4% in May.

“If the two most important figures in the employment report, that is to say job creations and the unemployment rate, are better than expectations, details are much less favorable,” says Bastien Drut, head of strategy and economic studies at CPram.

“In particular, the private sector does not create almost more jobs outside the health services and the unemployment rate of young graduates, which had been put forward by Christopher Waller, possible successor to Jerome Powell, continues to increase,” he continues.

The Fed can still be patient

However, this American employment report even supports speculation on the fact that the American Federal Reserve (Fed) will not hurry to lower its rates.

“In response to the employment report, the money markets abandoned their bets on a reduction in the Fed rates in July, postponing the calendar of the next decrease of 25 base points (0.25 percentage point) to October, and now expensive only 50 points of base this year (compared to 66 base points before the publication)”, explains Michael Brown at Pepperston.

“A report on solid employment would probably definitively rule out the (very low) probability of a rate drop in July … and Jerome Powell will suffer the pressure from Donald Trump all summer,” warned Alexandre Baradez, responsible for market analysis at IG France, in a note published before the publication of this statistics.

The market also continues to keep an eye on the soap opera of 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 on Wednesday July 2, having 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.

Pluxee and fit virbac

On the values ​​side, Pluxee resumed 4.4% after revealing satisfactory organic growth in the third quarter and confirmed its annual objectives.

But it is Virbac who closes at the top of the SBF 120 this Thursday (+9.3%), supported by a note of Oddo BHF which raises his opinion to “outperformance” and his lens of courses at 395 euros on the title of the animal health laboratory.

Maurel & Prom won 6.7%, the market appreciating the latest initiative of the oil group in Colombia.

In the other markets, the euro restores 0.4% against the dollar to $ 1.1757, after the publication of the American employment report. Oil is decreasing before the meeting of the organization of oil exporting countries and its allies (OPEC+). The September contract on the Brent de Mer of the North yields 0.6% to 68.68 Dollars per barrel while that of August on the WTI listed in New York lost 0.8% to 66.90 dollars per barrel.