by Claude Chendjou

PARIS (Reuters) – Wall Street is expected slightly in green Thursday at the opening and European scholarships are also progressing at mid -session, in a context of attenuation of the penitification of the rate curve pending the publication of the American employment report. Futures in New York indices report a practically stable opening for Dow Jones, an increase of 0.15% for Standard & Poor’s 500 and an increase of 0.23% for the NASDAQ in the aftermath of a session in dispersed order.

In Paris, the CAC 40, leaded by Sanofi, nibbles only 0.04% to 7,722.69 points around 11:35 GMT. In Frankfurt, the Dax advances 0.78% and in London, the FTSE took 0.16%.

The pan -European FTSEUROST 300 is 0.56% and the EuroStoxx 50 in the euro zone of 0.39%. The STOXX 600 wins 0.60%, pulled mainly by new technologies (+1.06%). The leisure and transport compartment (-0.69%) limits the potential of the pan-European index in the wake of a financial publication in the sector.

For Chris Beauchamp, market analyst at IG Group, the prospects in terms of travel remain somewhat uncertain, because consumers could reduce their expenses with regard to the forecasts of high inflation in Europe for the rest of the year.

The concerns about the budgetary expenses related to debt in the economies developed, which resurfaced this week and triggered tensions in the bond and a decrease in stocks, were a little soothed Thursday in the hope of a rapid drop in loan costs.

Several officials of the American Federal Reserve (Fed), such as Christopher Waller, Raphael Bostic and Neel Kashkari, said on Wednesday reflecting on rate reductions, worried about employment. The publication at 12:15 pm GMT of the ADP survey, a prelude to the official monthly report on the American job on Friday, will make it possible to learn more. The ISM index of the Services, on the other hand, will provide elements on the state of the American situation, while the Fed must meet on September 16 and 17 and that a decrease of at least 25 base points of its rates is expected.

Investors will also be attentive to the words of Stephen Miran, economic advisor to President Donald Trump, during a confirmation hearing before the Senate to occupy a headquarters of governor at the Fed to replace Adriana Kugler, who resigned last month.

The values ​​to follow at Wall Street

Salesforce drops 6.6 % on the stock market, the “cloud” specialist who announced anticipate a turnover for the current quarter to the expectations of Wall Street, noting a delay in the monetization of his IA agent platform.

American Eagle Outfitters flies 24.9% in a forefoot, the clothing manufacturer who announced Wednesday to expect comparable sales in the third quarter to forecasts.

Values ​​in Europe

Sanofi drops by 10.34% after disappointing results of an amlitemab study, experimental treatment intended for patients with atopic dermatitis.

Biomérieux cedes 1.78% after adjusting its sales forecast range for this year 2025 in a context of decline in the Chinese market.

Jet2 tumbles 13.20% after the British airline at low prices announced providing an operating profit for the whole year located in the lower part of its expectations. In its wake, the German TUI lost 2.18% and the British Easyjet 3.36%.

Volvo Cars fell by 2.19%, sales of the car manufacturer having dropped by 9% in August over a year.

MEDIOBANCA decreases 2.79% while the bank renewed Thursday, after a board of directors, its opposition to the offer of Banca Monte Dei Paschi (-3.22%) despite its recent improved proposal.

CVC Capital plunges 4.85%, the investment capital fund having published results judged as the first half.

RATE

Sovereign bond yields in the euro zone and the United States continue to retreat on all maturity on Thursday after in particular auctions in France and in the United Kingdom, without completely evacuating concerns about the public debts of the States, even if the demand on long-term obligations remains robust.

The yield of the German Bund at ten years gives 2.5 base points (PB), to 2.71%, and that at 30 years 3.4 pb, to 3.32%.

In France, the OAT at ten years abandoned 4.5 pb, at 3.49%, and 30 years 5.9 pb, at 4.39%, after having climbed Tuesday at 4.52%, its highest level since June 2009.

The “Spread”, that is to say the yield gap, between the Bund and the OAT at ten years, is displayed at 81 PB while the first secretary of the French Socialist Party (PS), Olivier Faure, said Thursday that the mass was said, confirming the will of the oppositions to overthrow the government of François Bayrou on September 8.

The French Minister of Finance, Eric Lombard, for his part, said that the government will have to compromise on the budget deficit reduction projects in the event of François Bayrou’s fall, the Financial Times reported on Wednesday.

The yield of American treasury bills at ten years is falling from 1.2 pb, to 4.19%, and that at 30 years from 1.1 pb, to 4.88%, while traders now assess 97%the probability of a drop in Fed rates this month, following the publication of the JOLTS survey on job offers.

Changes

The dollar increased, by 0.16% in the face of a basket of international currencies after a volatile start to the week, investors being faced with a fragile bond market and data showing a weakening of the labor market.

The euro yields 0.15%, to 1.642 dollars, after an indicator showing a more marked decline than expected retail sales in the euro zone in July, down 0.5% at a monthly rate, against an increase of 0.60% (revised figure) in June.

The Sterling book is exchanged at $ 1.1641 (-0.17%), continuing to suffer from concerns about the budget, which will be presented on November 26.

OIL

The petroleum market fell again on Thursday, after a drop of more than 2% the day before, while investors await the outcome an OPEC+meeting, scheduled for this weekend, during which the organization could make a new increase in its production objectives.

Brent Brent refused 1.04% to 66.90 Dollars per barrel and light American crude (West Texas Intermediate, WTI) declines 1.06% to $ 63.29.

(Written by Claude Chendjou, edited by Blandine Hénault)

Copyright © 2025 Thomson Reuters