The CAC40 ended the final session of the week with a gain of 0.31%, at 7,269 points, supported by Accor (+1.6%), Axa (+1.4%) and URW (+1.4%), while Wall Street was up very slightly, with Dow Jones, S&P500 and Nasdaq between 0.1% and 0.2%.

The Paris index gained a timid 0.2% over the past week, but has lost almost 4% since the start of the year.

Financial markets have generally wiped out around half of the major movements at the end of last week and the beginning of this one, helped by data on jobless claims', points out Capital Economics.

As a reminder, the Labor Department recorded 233,000 new jobless claims last week, a figure down by 17.000 down on the previous week, easing fears of an economic recession in the USA.

'Fundamentals remain weak, however, with movements insufficient to correct the high valuation of equities and credit', warns SwissLife Asset Managers, which therefore expects continued volatility on financial markets.

In today's statistics, the unemployment rate in France (excluding Mayotte) as defined by the ILO fell by 0.2 points in the second quarter of 2024, to 7.3% of the working population, i.e., the number of unemployed fell by 40,000 to 2.3 million.

Nevertheless, among those inactive as defined by the ILO, 1.9 million want a job but are not considered unemployed because they are not looking for work, a number that rose by 39.000 and representing 4.6% of 15-64 year-olds (+0.1 points).

In other data released this morning, Destatis confirmed in second reading its preliminary estimate for German inflation in July, namely +2.3% in annual variation, up 0.1 points on the previous month.

The euro remains stable against the greenback, at $1.092/EUR. Meanwhile, Brent crude oil is trading at $79.5 a barrel in London (+0.7%).

On the value side, Eutelsat lost more than 2% following the publication of a net loss attributable to the Group of -309.9 million euros for its 2024 financial year (ending June), compared with a quasi-symmetrical profit of 314.9 million a year earlier.

The satellite operator nevertheless reported that it had achieved all its annual financial targets, with adjusted EBITDA of 697.5 million euros and sales from operating activities of just under 1.27 billion.


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