The Paris Stock Exchange moves down on November 8, 2024, with investors preferring the American stock market after the election of Donald Trump and the Fed's rate cut (AFP / Eric PIERMONT)
The Paris Stock Exchange opened lower on Thursday, on a market which is freshly welcoming the results of electronic chip giant Nvidia, the world's largest capitalization.
Around 9:10 a.m. GMT, the CAC 40 lost 0.52% to 7,159.57 points. The day before, it had fallen by 0.43% to 7,198.45 points, the lowest since July 7.
The markets were disappointed by the results of the world's largest capitalization, the American Nvidia, published Wednesday evening after Wall Street closed.
The chip giant, seen as the standard-bearer of the generative artificial intelligence (AI) revolution, far exceeded average quarterly profit expectations and ensured that demand for its semiconductors was not slowing.
But “sales forecasts for the fourth quarter did not reach the upper limit of the analysts' forecast range” according to Keita Yamaguchi of broker Monex Securities.
“One thing is clear: yesterday's announcements indicate that the next quarters will not be as fun as the previous ones,” notes Ipek Ozkardeskaya, analyst at Swissquote Bank.
Investors are also still closely monitoring the situation in Ukraine.
kyiv used British long-range Storm Shadow missiles against Russian territory for the first time on Wednesday, after obtaining authorization from London, according to British media, the day after the similar launch of American ATACMS missiles. Russia said Thursday it had shot down two of these British missiles.
In terms of indicators, the business climate in France “darkened again” in November, losing one point to 96 points, deteriorating in all sectors with the exception of industry, according to a publication by INSEE on Thursday.
Soitec in good shape
The French semiconductor specialist Soitec jumped 18.58% to 75.30 euros around 9:00 GMT on the broader SBF 120 index, after the publication of its first half results on Wednesday evening.
The group reported a turnover for the first half of its staggered 2024/2025 financial year of 338 million (-15% over one year), close to the consensus of analysts surveyed by Factset. Thanks to a “rebound in turnover” in the “second quarter”, it has decided to confirm its forecasts for the 2024/2025 fiscal year.
Euronext CAC40
Related News :