(AOF) – European stock markets are expected to decline at the opening of the session this Wednesday, before the ECB’s monetary policy decision. The CAC 40 should lose 0.7%. Yesterday, several companies revealed their turnover. LVMH disappointed with sales down 2% in data published over 9 months. For its part, Fnac-Darty revealed sales for its third quarter up 0.5% in published data but down 0.6% in comparable data. Eramet announced a lowering of its 2024 objectives for its manganese activities in Gabon and nickel in Indonesia.
Values to follow today
Eramet
Eramet is adjusting its 2024 targets downward for Comilog and PT Weda Bay Nickel (“PT WBN”), taking into account particularly degraded market conditions for carbon steel in China, and the issuance by the Indonesian authorities this week of a lower-than-expected nickel ore sales permit.
Fnac-Darty
Fnac-Darty revealed sales for its third quarter amounting to 1.849 billion euros, an increase of 0.5% in published data but a decline of 0.6% in comparable data. Over the first nine months of the year, the group recorded a turnover of 5.238 billion euros, up 1% on a published basis but down 0.2% on a comparable basis. Fnac-Darty posted a gross margin rate of 50 basis points over the same period, excluding the dilutive effect of the franchise and changes in scope.
Ipsos
Ipsos announces in advance its third quarter turnover, estimated at 591 million euros, up 0.5% including -0.1% organic growth. Over the first nine months of the year, growth stood at 3.3%, including 2.4% organic. “Organic growth for the third quarter is lower than expected and does not offer the prospect of a significant rebound by the end of the year,” specifies a press release. The group is therefore revising its annual organic growth objective to around 1%.
LVMH
LVMH achieved sales of 60.8 billion euros over the first nine months of 2024, stable at comparable currencies and scope despite the current context and a high basis of comparison after the years of exceptional post-Covid growth. In published data, sales fell by 2% over 9 months. Europe and the United States saw slight growth at comparable currencies and scope. Japan continues to see double-digit sales growth. The rest of Asia notably reflects the strong growth in spending by Chinese customers in Europe and Japan.
Macroeconomic figures
The September import price index will be released at 2:30 p.m.
Yesterday in Paris
With the exception of the Dax, European markets ended in negative territory before Thursday’s ECB decision. Meanwhile, inflation in France fell by 1.2% in September after increasing by 0.5% in August. In the United States, Bank of America, Citigroup and Goldman Sachs revealed results above estimates. In Paris, TotalEnergies saw red after the fall in its refining margins in the third quarter and the acceleration of the fall in black gold prices. The CAC 40 lost 1.05% to 7,521 points while the EuroStoxx 50 lost 1.71% to 4,955 points.
Yesterday on Wall Street
American markets closed in the red. If before the stock market, investors had welcomed the results of the banks, Bank of America, Citigroup and Goldman Sachs finished in scattered order. Black gold prices also continued to lose ground even though Israel is not expected to strike Iranian oil installations. ASML’s warning weighed on the semiconductor sector. The Dow Jones lost 0.75% to 42740.42 points while the Nasdaq Composite fell 1.01% to 18315.59 points.
