(CercleFinance.com) – Paris leads the way on the European continent, gaining nearly +0.5% while Frankfurt and London are stagnating around their balance point, at the start of a week which is dense announcement, both on the geopolitical level (hot issue between Iran/Israel, Putin who renews threats against the West, final stretch before the US election…) and economically (statistics and numerous quarterly publications).
This morning, investors are dealing with the heavy decline in the price of oil: in London, a barrel of Brent dropped 6% to $71.5. WTI fell in the same proportions to trade around $67.4. The markets seem to have been reassured by the fact that the Israeli bombing campaign on Iran carried out on Friday evening spared the oil infrastructure of the Islamic republic.
If no macroeconomic data is expected this Monday, the following days will see the publication, in particular, in France and in the euro zone, of the first estimates of growth for the third quarter, then those of inflation for October.
Less than 10 days before the presidential election in the United States – the outcome of which still appears very uncertain – investors will be particularly attentive to major American statistics, namely the GDP figures, the PCE price index and above all the employment report.
'We expect 75,000 job creations for October, compared to 254,000 in September, and an increase in the unemployment rate to 4.2%', predicts Deutsche Bank, adding that 'among company results, the spotlight will be on five of the 'Magnificent 7'.
However, 'we must refrain from overinterpreting the figures', warns Chistopher Dembik, analyst at Pictet AM. 'The statistics for the month of October were collected two weeks ago when a series of temporary factors, mainly hurricanes and strikes in ports, had a strong impact on the normal functioning of the job market,' he explains.
Company news will be marked this week by numerous quarterly publications: McDonalds, Eli Lilly, Pfizer, Chevron, or even Shell, TotalEnergies, BASF, Novartis and Volkswagen on the old continent.
Meanwhile, Tata Advanced Systems Limited (TASL) and Airbus inaugurated the Final Assembly Line (FAL) complex of the Airbus C295 aircraft in Vadodara, Gujarat, India.
AstraZeneca says the European Union has approved Fasenra (benralizumab) as an add-on treatment for adults with relapsed or refractory eosinophilic granulomatosis with polyangiitis (EGPA), a rare vasculitis that can damage multiple organs and be fatal without treatment.
Porsche said its sales reached 28.56 billion euros during the first nine months of the year, a figure down 5.2% compared to the same period a year earlier. EBIT shows a contraction of 26.7%, to 4.04 billion euros, while the manufacturer delivered 226,026 vehicles between January and September, a drop of 6.9%.
Finally, Philips fell by almost 15% at the start of the session in Amsterdam, heavily sanctioned after a revision, on the occasion of its quarterly publication, of its objectives for the whole of 2024, so as to reflect deteriorated demand in China .
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