After closing down less than 0.3% on Tuesday at 7,130 points, a limited decline compared to the losses of the previous two sessions, the CAC40 could start the day on slightly positive ground, given the futures at this stage.

The momentum seems to have been reversed on the world's main stock markets, with Wall Street closing clearly in the green on Tuesday (+1% on the S&P500 and Nasdaq Composite) and the Nikkei in Tokyo posting a gain of around 1% this morning.

Many analysts are taking a reassuring view after the sharp fall in equity markets following last weekend's worse-than-expected US employment report.

Michael Strobaek, Global CIO at Lombard Odier, commented: "Despite the slowdown in the employment market, both the US economy and consumers are doing rather well in our view, and we believe that the risks of a recession are limited.

"Stock markets could stabilize over the next few weeks, but we expect volatility to remain high. The Swiss franc is likely to remain underpinned by demand for safe-haven assets", he warns.

In terms of statistics, the French and German trade balances and German industrial production for June are due to be released this morning, before the weekly US oil inventories in the afternoon.

On the value front in Paris, Airbus announces a firm order from Cathay for 30 A330-900 aircraft, as part of the Hong Kong airline's renewal of its fleet of medium-size wide-body aircraft.

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