At half-mast since mid-session, the CAC40 ended the day down 0.94%, at 7,068 points, penalized in particular by the declines of Edenred (-11%), Saint-Gobain (-3.8%) and Worldline (-3.2%).

It should be remembered that an agreement was reached in extremis over the weekend to avoid a shutdown of the US federal government.

The agreement on temporary funding will only last until November 17", Commerzbank points out, warning that "as a result, a new edition of the budget drama looms in a few weeks".

In the meantime, this agreement will avoid a delay in the publication of certain US data, such as August's industrial orders and trade balance, and above all September's official employment report.

On the statistics front, the US manufacturing sector's decline is slowing, according to S&P Global's PMI index, which rose to 49.8 in September (revised from a flash estimate of 48.9), after 47.9 the previous month.

In the eurozone, the HCOB PMI index for eurozone manufacturing fell very slightly on the previous month, from 43.5 to 43.4, signalling a further deterioration in eurozone industrial conditions.

The HCOB PMI index for French manufacturing, produced by S&P Global, fell from 46 in August to 44.2 in September, dropping further below the unchanged 50 mark and posting its lowest level since May 2020.

Finally, the unemployment rate in the eurozone came in at a seasonally-adjusted 6.4% in August, compared with 6.5% the previous month, announced Eurostat. In the EU, the unemployment rate stood at 5.9% in August 2023, down from 6.0% in July 2023.

In securities news, Casino announced that it had completed the sale of the first wave of 61 outlets to Groupement Les Mousquetaires, and extended the deadline for concluding a lock-up agreement with its creditors to October 3.

Traders will also be able to react to the results unveiled by agri-food group Bonduelle for its 2022-23 financial year, as well as those of healthcare IT specialist Equasens for the first six months of the year.

Airbus announces that LATAM Airlines has taken delivery of its first A321neo leased from AerCap, and has placed an order for a further 13 A321neo aircraft to expand its route network and stimulate regional growth.

Barclays upgrades its recommendation on Vivendi from 'in-line weighted' to 'overweight', with an adjusted price target of 11.5 to 11.6 euros, highlighting in particular a cheap valuation for the French communications and entertainment group.

Finally, Suez announces the acquisition of DCW in the UK. This new acquisition confirms Suez's confidence in the UK market and strengthens its position as a major global player in the waste sector.

Suez has also announced a GBP 600 million inaugural bond issue in Green format. The issue carries an annual fixed rate of 6.625% and a 20-year maturity.


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