2023-07-20 16:31:13
The Paris Stock Exchange ended Thursday’s session up 0.79%, driven by optimism that spread to European stock markets following well-received corporate results.
The star CAC 40 index rose 57.97 points to 7,384.91 points. Tuesday and Wednesday, he had progressed slightly.
For Philippe Cohen, portfolio manager at Kiplink Finance, “the market is correcting the excessive decline on Monday”, recorded following the publication of growth in China below analysts’ expectations. The Parisian rating had fallen by 1.12% on Monday.
The session was also animated by numerous publications of company results in Europe and the United States.
On Wall Street, the Nasdaq was dragged down by disappointing results from Tesla and Netflix.
“The markets are focused on corporate publications because anyway we know what to expect from central bankers” next week, comments Mr. Cohen.
The US and European central banks are both expected to announce a 0.25 percentage point increase in their key rates.
And given slowing inflation, their job might be nearly done, observers say.
In France, the business climate remained stable in July, at its long-term average for the third consecutive month, INSEE announced on Thursday.
In the United States, home resales fell in June, with few properties for sale as owners are reluctant to move due to very high interest rates on mortgages.
Getlink lacks speed
The Getlink group, operator of the Channel Tunnel, achieved the best first half of its history with turnover up 64% to 934 million euros and net profit which jumped 218% to reach 159 million euros.
However, these results were anticipated and did not surprise investors. The action fell 1.12% to 15.90 euros.
Oddo BHF analysts do not expect Getlink to exceed its forecast because “the rebound in traffic is weaker than in the air”, according to a note published Thursday.
Tech under pressure
In the wake of the negative trend in their sector the day before on Wall Street, European semiconductor stocks fell: STMicroelectronics lost 1.51% to 46.23 euros and Soitec 3.70% to 165.20 euros, the worst performance of the SBF 120.
Teleperformance (-1.31% to 154.80 euros) and Dassault Systèmes (-1.61% to 40.70 euros) also suffered.
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