(AOF) – European markets are expected to be on a stable note at the opening of the first session of a week which will be mainly dominated by the American presidential election this Tuesday. Wall Street ended the week in a positive zone. Job creation came out well below expectations, the unemployment rate and wage growth have stabilized, supporting the hypothesis of a continuation of the Fed's rate cut. Manufacturing PMIs are on the morning agenda. Schneider Electric has announced the appointment of Olivier Blum as Managing Director.
Values to follow today
Capgemini
Capgemini shares fell 6.31% to 164 euros last week due to the downward revision of all of its annual forecasts. The consulting and IT services group had already reduced its growth forecast in July due to the deterioration of the outlook for the automotive and aeronautical sectors, and a less marked recovery in financial services. Today, its general director, Aiman Ezzat, pointed to a more unfavorable context than anticipated, particularly in the industry.
Ruby
Rubis fell more than 11% to 22.22 euros last week after its warning. The company is now targeting a gross operating profit of between 675 and 725 million euros compared to 725 to 775 million euros previously. “The recent escalation of conflicts in the Middle East has created a very volatile environment, in recent months with strong fluctuations and a general downward trend in oil prices. These developments have a direct short-term impact on the valuation of stocks of Rubis' fuel distribution activity” the company indicated in particular.
Schneider Electric
Schneider Electric announces that the board of directors has unanimously decided to appoint Olivier Blum as general manager “to accelerate the implementation of its strategy and initiate the next phase of its development”, specifies a press release from the specialist in the digital transformation of energy management and automation. Schneider Electric has decided to terminate the functions of CEO of Peter Herweck following disagreements in the implementation of the company's roadmap.
Société Générale
Last week, Société Générale (+15% to 22.275 euros) recorded the largest increase in the CAC 40, galvanized by the presentation of better-than-expected quarterly results. The news is all the more appreciated as it owes this outperformance to its retail banking in France, the bank's Achilles heel in recent quarters. This publication is accompanied by a reshuffle of the management team, in particular the resumption of direct supervision of Retail Banking activities in France by the Managing Director, Slawomir Krupa.
Macroeconomic figures
The purchasing managers' index for the manufacturing sector in October will be published at 9:50 a.m. in France, at 9:55 a.m. in Germany and at 10:00 a.m. in the euro zone.
In the euro zone, the Sentix investor confidence index for November will be revealed at 10:30 a.m.
In the United States, orders to industry in September will be announced at 4:00 p.m.
Around 8:30 a.m., the euro gained 0.52% to $1.0890.
Friday in Paris
European stock markets rose in the wake of the October employment report. While job creation is well below expectations, the unemployment rate and wage growth have stabilized, in line with expectations. These figures support expectations of a rate cut by the Fed. If in the United States, Amazon surprised favorably, sales in China disappointed. In Paris, Viridien's income was sanctioned. The CAC 40 gained 0.80% to 7409.11 points while the EuroStoxx50 rose 1.09% to 4880.06 points.
Friday on Wall Street
US markets ended the week on a positive note. On the statistics front, job creations came out well below expectations, the unemployment rate and wage growth stabilized, in line with expectations. These data point to a continuation of the Fed's rate cut. Long-term rates have however increased. On the value side, Amazon finished among the biggest risers in the S&P 500 thanks to a solid quarterly publication. The Dow Jones rose 0.69% to 42,052 pts while the Nasdaq gained 0.80% to 18,239 pts.
