At the end of the morning, the CAC40 fell by -2.2% to 7090Pts, after closing down 1.6% at just under 7252 points last Friday for the Paris Bourse's flagship index.

In Tokyo, the Nikkei index fell by 12.4% (after -13% during the session), the biggest drop in its history, but also over 48 hours with an 18.2% decline. In 48 hours, the index wiped out all its gains since January 1, and plunged -6% into the red.

As a reminder, the markets suffered on Friday from the release of a "worrying" US employment report, according to Commerzbank, with only 114.000 new non-agricultural jobs created in July, and the unemployment rate up 0.2 points to 4.3%.

"At the same time, wages rose more slowly", pointed out the German bank, for whom this supported the scenario of a first rate cut by the Federal Reserve in September.

On Monday, investors took note of the various composite PMI indices in final data for July, notably that for the eurozone, which was down to 50.1 in flash estimates, signalling a virtual stagnation in the region's private sector.

After a promising start to the year, marked by a return to growth and a one-year expansion peak in May, the eurozone economy lost momentum again in July. Thus, the composite HCOB PMI index of overall activity in the eurozone fell from 50.9 in June to 50.2 in July, a five-month low.

In June 2024 compared with the previous month, industrial producer prices (PPI) rose by 0.5% in both the eurozone and the EU, according to Eurostat estimates, following decreases of 0.2% in both zones.

In France, the HCOB PMI composite index rebounded slightly from 48.8 in June to 49.1 in July, signalling a further marginal contraction in overall activity, but remained below the unchanged 50 mark for a third consecutive month.

Other data due over the next few days include eurozone retail sales, German industrial production for June, and France's unemployment rate for the second quarter.

On the corporate front, this week's releases include those from Novo Nordisk, Commerzbank, Ahold Delhaize and Deutsche Telekom in Europe, and Amgen, Caterpillar and Walt Disney in the USA.

In the meantime, Société Générale has signed agreements with Union Bancaire Privée (UBP), a Swiss bank specializing in wealth and asset management, to sell it SG Kleinwort Hambros and Société Générale Private Banking Suisse.

Societe Generale also announced that it had signed an agreement with BRED Banque Populaire for the sale of the Group's entire 70% stake in Societe Generale Madagasikara in Madagascar, the financial terms of which were not specified.

L'Oréal announces the acquisition of a 10% stake in Galderma Group from Sunshine SwissCo (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA) and Auba Investment, for an undisclosed amount.

Lastly, oil company Maurel & Prom reported an almost doubling of net income (Group share) (+91%) for the first half of 2024, underpinned by a 35% increase in production (M&P share).

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