(AOF) – European stock markets are close to balance at mid-session. Investors are focusing their attention on the US inflation data which will be released early this afternoon. These figures will have an influence on the trajectory of the Fed's policy, which will make its decision on December 18. The latest published indicators confirm the sluggishness of economic activity on the Old Continent. In terms of values, Publicis climbs 0.06% to 7,399.26 points while the EuroStoxx 50 crumbles by 0.03% to 4,950.05 points.
On the Madrid Stock Exchange,
Inditex
fell by 4.7.17% to 51.28 euros. The Spanish ready-to-wear giant, owner of the Zara brand, reported net profit up 6% to 1.68 billion euros in the third quarter. A record performance never before recorded by the group during a quarter. But it comes out below the consensus: 1.77 billion euros. Between February and October, sales increased by 7.1% compared to the previous year to reach 27.4 billion euros, where the consensus was targeting an increase of 8%.
A Paris,
Publicis
appears at the top of the flagship index of the Parisian market, advancing by 3.54% to 106.65 euros. The communications group benefits from an increase in recommendation from JP Morgan from “Neutral” to “Overweight”, with a price target set at 140 euros compared to 109 previously. It comes two days after the 100% American marriage between Omnicom and Interpublic, which will give birth to the first advertising group in the world. In a sector note on the media, the American bank expects stocks exposed across the Atlantic to outperform in the first half.
Candidate for the takeover of the Stade de France concession,
GL events
(-0.23% to 17.24 euros) confirmed that it is entering a phase of exclusive negotiations with state services. “Although decisive, this step does not make the group the winner of the contract. It is only at the end of this decisive negotiation which should end by the end of January 2025 that the final decision will be taken”, specifies the event specialist. Yesterday afternoon, the daily Les Echos affirmed that GL events was in exclusive negotiations for the operation of the Stade de France.
Today's macroeconomic figures
In the United States, inflation in November will be known at 2:30 p.m. before the weekly evolution of oil stocks at 4:30 p.m.
Around midday, the euro lost 0.31% to 1.0496 dollars.
France
