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The Paris Bourse is trying to extend its leap the day before, while hitting the threshold of 5,100 points. Investors continue to buy cheaply on recently slaughtered sectors while being aware of the persistence of political risks in Europe and the economic slowdown in China. The focus is also on Apple's quarterly results, expected after the Wall Street closing, as well as on the October employment figures in the US, expected tomorrow.
At 10:25, the Cac 40 was stable at 5.099,56 points (+ 0.12%) in a business volume of 615 million euros. Elsewhere in Europe, Footsie London yields 0.13%, while the Dax of the Frankfurt Stock Exchange takes 0.53%.
"Super Thursday" in the UK
On the foreign exchange market, the pound sterling rose more than 1% against the dollar and 0.6% against the euro as a result of information evoking advances on the Brexit front. Theresa May has reached an agreement with European negotiators that will allow the UK financial sector to maintain access to the EU's single market after Brexit, reports Times citing government sources. For his part, Dominic Raab, the British minister in charge of Brexit, said that an agreement with the Europeans is " firmly in sight Suggesting that it could be finalized by November 21. The UK is also preparing for a "Super Thursday" with the Bank of England's monetary decision at 1 pm, the minutes of the meeting and its report on the economy, as well as the press conference from his governor, Mark Carney.
Hunting for bargains on slaughtered values
Cheap purchases continue on auto stocks, with the European Stoxx 600 index up 1.3% after falling more than 13% in three months. Michelin, Peugeot and Renault earn more than 1%.
STMicroelectronics continues to grow in the wake of Dutch semiconductor equipment manufacturer ASM International, whose quarterly results and forecasts exceeded expectations.
ArcelorMittal earns almost 1%. The steelmaker reported a 42% jump in gross profit in the third quarter, but EBITDA was below expectations. The group predicts, however, that its results will continue to improve thanks to continued growth in steel demand.
Sanofi continues to grow in the wake of quarterly expectations. Barclays has also raised its recommendation on the title of "underperformance" to "neutral".
Among the other badyst ratings, Berenberg raised his course goal on JCDecaux from 32 to 36 euros, a potential increase of 24% compared to yesterday's closing price. The broker also maintains its opinion to "buy" on the title of the specialist in outdoor advertising and urban real estate.
Total reports the sharpest drop in the CAC 40 in the wake of the drop in crude prices and the quarterly unwelcome results of Royal Dutch Shell.
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