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The stock market focused on US banks and Apple, J&J suspends clinical trials on its vaccine

After seven sessions of increase in eight days, the Paris Bourse is moving towards a hesitant opening a few hours before the start of the quarterly results season in the United States . The announcement of a “pause” in clinical trials of Johnson & Johnson’s vaccine candidate against Covid-19 also puts the strong progression on Wall Street yesterday into perspective, especially as the Chinese markets are marking time this morning.

US banks and Apple put to the test

Investors are awaiting the first quarterly results in the United States, with Citigroup and JMorgan Chase banks getting the ball rolling on Tuesday, awaiting Morgan Stanley, Goldman Sachs, Bank of America and Wells Fargo later in the week. Johnson & Johnson is also presenting its accounts today as one of the patients participating in clinical trials for its potential coronavirus vaccine contracted an unexplained illness. Apple is due to unveil new products in the evening, including the iPhone 12, the brand’s first device to be equipped for 5G. The iPhone accounts for about half of Apple’s sales.

The market continues to question the likelihood of agreement in Congress on a partial, or expanded, economic support plan. The Republican-dominated Senate says it is ready to vote on Donald Trump’s proposals on targeted aid to airlines, small businesses and households, while the House of Representatives has indicated that no vote is expected.

The market capitalization Chinese back to its 2015 level

In Asia, the CSI 300 of the main capitalizations of the Shanghai and Shenzhen stock exchanges hovered around equilibrium this morning, the day after a 3% gain in anticipation of Xi Jinping’s announcement of new measures to open the market. Chinese economy to foreign investors. Yesterday’s rally took the market capitalization of Chinese places above $ 10 trillion for the first time since 2015, according to data compiled by Bloomberg. According to customs data, Chinese exports expressed in dollars jumped 9.9% year on year in September, while imports rose 13.2%, against respectively + 10% and + 0.4% estimated.

On the statistics front, the ZEW institute is due to unveil its business climate index in Germany this morning in October. It will be followed by the IMF’s economic forecasts, then by September inflation figures in the United States.

“Convincing” results for Sanofi, Airbus downgraded

Sanofi announced that Dupixent, developed with the American Regeneron, has obtained convincing results in a clinical trial on children with severe asthma.

Among analysts’ ratings, JPMorgan has downgraded Airbus from “neutral” to “underperformance”. Bernstein began monitoring L’Oréal to “outperform” to target 340 euros. Jefferies raised its price target on Worldline from 92 to 110 euros by maintaining its recommendation to “buy”.

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