(BFM Stock Exchange) – The Parisian index increases on Wednesday, October 1, while the private sector in the United States destroyed jobs last month. This feeds the prospect of a drop in rates of the American federal reserve. The increases in Sanofi and ArcelorMittal also supported the trend.

The Paris Stock Exchange approaches this first day of October and this beginning of the fourth quarter on the right foot. The CAC 40 closing up 0.90% to get closer to more than 8,000 points, at 7,966.96 points.

The star index, which progressed thanks to the good performance of two of its components, saw its earnings accelerate in the afternoon after the publication of a disappointing employment statistics in the United States.

Postal destruction in the United States

According to the monthly investigation of the ADP cabinet, the private sector in the United States, against all odds, destroyed 32,000 jobs in September, where the consensus was aimed at 51,000 job creations. Unheard of since March 2023. The figure for August was also revised to display a destruction of 3,000 positions against 54,000 posts of posts initially estimated.

“It is therefore the third time in four months that the ADP report indicates job destruction: this had not happened since the worst of the COVID crisis,” said Bastien Drut, head of strategy and economic studies at CPRAM.

“The ADP survey could for the first time be a more precise indicator of the real level of employment,” said Jamie Cox, associate director at Harris Financial Group quoted by Reuters.

It will probably be the only statistics relating to the labor market available this week. The publication of the official American employment report scheduled for tomorrow, risks going through the hatch with the “Shutdown” the day before in the United States, synonymous with the closure of a large part of the federal services.

“While the September employment report may not be published because of the Shutdown, the figures published this week, and in particular the ADP report, still validates the hypothesis that the labor market is in high slowdown. This could even deteriorate more with the Shutdown,” says Bastien Drut. “Consequently, there is no doubt that the Fed will continue its cycle of rate drops: will the question become ‘accelerating this cycle?'” Asks the market specialist.

Sanofi in great shape

The CAC 40 was also pulled by two values. Like all health groups in Europe and Paris, Sanofi jumped 8.4%, carried by the agreement concluded by Pfizer with the Trump administration concerning the price reductions in medication in the United States. Analysts believe that this agreement gives significant visibility to the pharmaceutical sector on the stock market.

ArcelorMittal increased by 5.3%, the action of the steelmaker who jumped after Stéphane Séjénéné, vice-president of the European Commission, confirmed that Brussels had increased customs taxes on imports of foreign steel. This protectionist measure could weigh on China exports, which for several years have been looking for international outlets, creating an excess of supply on the market.

Excluding CAC 40, Soitec gained 4.6% after announcing the departure of its director general, Pierre Barnabé, whose stock market is not very flattering.

On the side of the small and medium -sized capitalizations, Lacroix has soared more than 44% after the publication of its half -yearly accounts which include satisfactory elements.

On the other markets, the euro fell 0.1% against the dollar to 1.1723 dollars. Oil is sluggish. The December Brent of the North Brent contract abandons 0.8% to 65.49 dollars per barrel while November on the WTI on the WTI on the New York also loses 0.8% at 61.86 Dollars per barrel.