(AOF) – European markets started the fourth quarter sharply lower due to the decline in oil prices and a further rise in long-term rates in the United States. They took advantage of the agreement reached this weekend in the United States to avoid a shutdown and of purchasing managers’ indices higher than expectations across the Atlantic. Edenred has fallen while the meal voucher market is under threat of a capping of commissions. The CAC 40 index lost 0.94% to 7,068.16 points, its lowest closing level since the end of March. The EuroStoxx50 lost 0.89% to 4,137.63 points.
In London,
BAE Systems
(+0.97% to 1,007.50 pence) has been awarded £3.95 billion in funding from the Ministry of Defense for the next phase of the UK’s attack submarine program. next generation nuclear propulsion, known as SSN-AUKUS. AUKUS (acronym for Australia, United Kingdom and United States) is a tripartite military cooperation agreement formed by Australia, the United States and the United Kingdom.
In Paris, sharpest decline in the flagship index of the Parisian market,
Edenred
fell by 10.96% to 52.78 euros while
Sodexo
fell by 3.26% to 94.34 euros. This sectoral downward movement comes after the comments of Olivia Grégoire, Minister Delegate in charge of Small and Medium Enterprises, Commerce, Crafts and Tourism, this Monday on franceinfo. “Several months ago, I commissioned the Competition Authority to see if the operation of the restaurant voucher market was fair. We will have the results in the coming days,” she declared.
A stronger progression of the SBF 120 index in the morning,
Vivendi
(+0.68% to 8.35 euros) is no longer leader but continues to be close to the top of the ranking. The communications and media giant benefits from a recommendation upgrade from Barclays, moving from “Online Weighting” to “Overweight”, with a slightly higher price target of 11.60 euros compared to 11.50 previously. The British bank judges that the action offers a good entry point.
Today’s macroeconomic figures
The contraction in the manufacturing sector was less in September in France than initially announced, according to a new flash estimate from S&P Global. The Purchasing Managers’ Index (PMI) came in at 44.2 versus a previous estimate and consensus of 43.6. It stood at 46 in August.
The euro area’s seasonally adjusted unemployment rate was 6.4% in August, down from the 6.5% rate recorded in July 2023 and down from the 6.7% rate recorded in August 2022, EuroStat said. It was expected at 6.4%. The European Union unemployment rate was 5.9% in August 2023, down from 6.0% in July 2023 and 6.1% in August 2022.
The contraction of the manufacturing sector was confirmed in September in the euro zone, according to a new flash estimate from S&P Global. The Purchasing Managers’ Index (PMI) came in at 43.4 versus a previous estimate and consensus of 43.4. It stood at 43.5 in August.
The contraction in the manufacturing sector was very slightly stronger than initially announced in September in Germany, according to a new flash estimate from S&P Global. The Purchasing Managers’ Index (PMI) came in at 39.6 versus a previous estimate and consensus of 39.8. It stood at 39.1 in August.
Construction spending increased 0.5% as expected in August in the United States, according to the US Census Bureau, after increasing 0.9% in July.
The Institute for Supply Management’s (ISM) American Purchasing Managers’ Index stood at 49 for the month of September, compared to 47.7 expected, after 47.6. According to this source also the contraction in the manufacturing sector is even less than expected. The American purchasing managers’ index stood at 49.8 for the month of September, against 48.9 expected, after 47.9 in August, according to figures from S&P Global. It was initially announced at 48.9.
Around 5:50 p.m., the euro lost 0.82% to 1.0502 dollars.