Group 1: Market Overview - European futures are pointing higher as fears of bad loans in the US easing, indicating a potential stabilization in credit risks [2][4] - US markets saw a rebound on Friday, with the NASDAQ gaining approximately 0.5%, and both the S&P and Dow also showing similar gains after a selloff led by regional banks [5][11] - Asian markets experienced strong gains, particularly in Japan, where the Nikkei 225 rose over 3% amid political optimism [7][8] Group 2: Company Developments - Kering has agreed to a €4 billion deal with L'Oreal, selling its beauty business, including the perfume line Creed, as part of a strategic refocus under new CEO Luca Deo [3][38] - The deal allows L'Oreal to expand its luxury brand portfolio, acquiring licenses for Gucci, Balenciaga, and others, while Kering aims to reduce its debt, which stood at €9.5 billion at the end of June [43][41] - Analysts view this move positively, suggesting it reflects Kering's strategic shift towards its core fashion business and reduces capital intensity by licensing rather than developing beauty products independently [48][49] Group 3: Economic and Regulatory Context - UK Chancellor Rachel Reeves emphasized the need for fiscal consolidation in response to global economic challenges, with a budget set to address these issues in November [26][28] - S&P Global downgraded France's credit rating to A+ from AA-, citing policy uncertainty and unresolved government finances as key concerns [50][52] - The French government faces long-term fiscal challenges, with projections indicating a potential debt level of 121% by 2028 if no corrective measures are taken [55][56]