(AOF) – European markets ended up in disarray. Despite the renewed optimism caused by certain results from companies such as equipment manufacturer ASML, the rise in long rates across the Atlantic and in Germany soon put out this little flame. The CAC 40 index closed down 0.43% to 6,040.72 points while the EuroStoxx50 gained 0.32% to 3,474.87 points. Wall Street is in the same bearish mood with an S&P 500 which lost 0.36% and a Nasdaq composite down 0.49% to 10,719.55 points around 5:30 p.m.
The supplier for the semiconductor sector
ASML
(+7.80% to 435.10 euros) revealed better than expected results. In the third quarter, the European technology firm generated a net profit of 1.7 billion euros once morest 1.74 billion euros a year earlier. It was expected at 1.42 billion, according to the consensus. Operating profit rose from 1.919 billion euros to 1.939 billion, representing a margin of 33.5% (-3.1 points). It was expected at 1.6 billion euros.
These last years,
Sartorius Stedim Biotech
had taken the habit of reserving good surprises for investors, either by revealing solid results, or by raising its annual objectives. Over the last 3 years, the action of the supplier of materials for the biopharmaceutical sector has consequently jumped by more than 120%. The warning on 2022 sales thus has the effect of a cold shower, causing Sartorius Stedim Biotech shares to fall by 16.11% to 265.50 euros, the largest drop in the SBF 120.
Virbac
fell by 11.01% to 242.50 euros to find itself in second to last place in the SBF 120 index the day following the downward revision of its 2022 profitability target. Faced with a slowdown in its market and inflationary pressures, the French pharmaceutical laboratory dedicated to animal health is now targeting a ratio of current operating income (before amortization of assets resulting from acquisitions) to sales of between 14% and 15% at constant exchange rates once morest around 15% at constant exchange rates previously.
The macroeconomic figures of the day
According to Eurostat, the annual inflation rate in the euro zone rose to 9.9% in September, once morest 9.1% in August. It had been announced at 10% in the first estimate and economists expected this figure to be confirmed. In the European Union, it stands at 10.9%. In September the largest contributions to the euro zone’s annual inflation rate came from energy (+4.19 percentage points, pp), followed by food, alcohol & tobacco (+2.47 pp), services (+1.80 pp) and industrial goods excluding energy (+1.47 pp).
In the United States, 1.546 million construction permits were recorded in September 2022 on an annual basis. The consensus was for 1.53 million, following 1.542 million in August. In addition, 1.439 million construction starts were recorded in September 2022 on an annual basis. The consensus was for 1.475 million, following 1.566 million in August.
The weekly U.S. Oil Inventories report showed a 1.7 million barrel drop in crude inventories once morest a consensus of -1.38 million barrels following falling 9.88 million barrels the previous week. Around 5:15 p.m., the price of a barrel of Brent gained 0.17% to 90.76 dollars.
The Fed’s Beige Book on the state of the economy will be unveiled at 8:00 p.m.
Around 5:30 p.m., the euro lost 0.70% to 0.9786 dollars.
