(BFM Bourse) – The Parisian index fell sharply at mid-session, several stocks having either published poor results or been dragged down by poor figures from a comparable.
The results season is definitely struggling to lift the CAC 40. The Parisian index dropped 1.7% to 7,387.93 points this Wednesday, now falling below 7,400 points.
On the macroeconomic side, investors are taking note of the gross domestic products of the euro zone countries which were published this Wednesday. Ultimately, the growth of the monetary union was a bit of a surprise, amounting to 0.4% in the third quarter compared to 0.2% for the consensus.
In the United States, the markets will also be monitoring, this afternoon, the publication of GDP for the third quarter as well as the ADP report on employment for the month of October, an imperfect prelude to the official figures which will be published on Friday.
Investors are especially busy dissecting a large number of publications in Europe.
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Capgemini in the tough
LVMH and Kering lost 4% and 2.5% respectively after their comparable Moncler disappointed, the transalpine group having published revenues 4% lower than consensus in the third quarter.
Pernod Ricard lost 4% and Rémy Cointreau dropped 2.5% while the Italian Campari plunged 15% on the Milan Stock Exchange, after revealing summer activity deemed “very disappointing” by Royal Bank of Canada.
Capgemini shows the biggest drop in the CAC 40, dropping 7% after once again lowering its growth target for 2024.
Conversely, Schneider Electric and Saint-Gobain, the usual good performers on the Parisian stock market, are floating, taking 0.04% and 0.39% respectively, the only two values in the green on the CAC 40. The two groups delivered a activity in the third quarter which met expectations.
Excluding the CAC 40, Nexans fell 7.9% after, on the contrary, disappointing in the third quarter.
On other markets, the euro advanced 0.1% against the dollar to 1.0831 dollars. Oil is growing. The December contract on North Sea Brent advanced 1.2% to $71.60 per barrel while the November contract on WTI listed in New York advanced 1.3% to $68.07 per barrel.
Julien Marion – ©2024 BFM Bourse
