After losing up to 1.3% late in the morning, the Paris Bourse erased most of its losses by the end of the session, closing the day down just 0.26% at 7,247 points, penalized in particular by the decline of Teleperformance (-4.5%).

Across the Atlantic, US indices were up sharply, with +1.3% for the Dow Jones, +1.6% for the S&P500 and +2% for the Nasdaq.

Christopher Dembik, Investment Advisor at Pictet AM, comments: "While we have no doubts about the recovery of the US equity market this year, given its solid fundamentals, we fear that it will be more sluggish in Europe.

' US companies are, for the most part, in good health and should post good third-quarter results. Things could be more mixed in Europe. Caution, therefore, even if valuation levels are very attractive", he adds.

On the statistics front, the Labor Department reported 233,000 new jobless claims in the US in the week to July 29, down 17,000 on the previous week.

In addition, US wholesale inventories rose by 0.2% in June on a sequential basis, according to the Commerce Department, following a 0.5% increase the previous month (revised from an initially estimated 0.6% growth).

On the Forex front, the euro was stable against the greenback, at around $1.09/E. Meanwhile, Brent crude oil rose by 0.5% to $78.9 a barrel.

In Paris news, Sanofi reports that in the Phase III GMMG-HD7 study, its Sarclisa induction therapy significantly improved progression-free survival in patients with multiple myeloma.

Getlink, the parent company of Eurotunnel, announces that its shuttle services saw traffic increase by 4% for trucks, but fall by 2% for passenger vehicles in July, compared with the previous year.

UBS reaffirms its 'buy' recommendation on Crédit Agricole SA, with its price target raised from 15.6 to 15.9 euros, a new target that offers 20% upside potential for the French banking institution's shares.

"CASA's performance in the second quarter of 2024 proved to be better than market expectations", notes the broker, who also points to a "results mix well suited to lower rates" and an "attractive valuation (at six times 2025 excluding Amundi)".

Finally, Jefferies confirms its buy recommendation on Engie, with a target price of 19 euros. We consider Engie to be a key player in renewable energies, trading at an unjustified, albeit diminishing, discount to its competitors', says the analyst firm.

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