(AOF) – European markets are falling slightly, with the exception of the London Stock Exchange. Investors were unpleasantly surprised by the announcement of the unexpected contraction of the private sector in the euro zone. The deterioration of the economy was particularly severe in France. Long rates fell sharply following these statistics and the euro continued to decline. In Paris, Thales is weakened by a new investigation into suspicions of bribery and corruption. Around 12 p.m., the CAC 40 fell 0.25% to 7194.62 points and the EuroStoxx50, 0.30% to 4741.60 points.
A Europe,
Brenntag
(+4.75% to 60.84 euros) occupies first place in the Dax 40 after Berenberg switched to buying the stock with a price target maintained at 76 euros. For the broker “the time has come to buy” as the German distributor of chemical products has seen its stock fall by more than 25% since the start of the year. Berenberg expects organic gross profit growth of 4.5% in 2025, compared to a consensus of 3.9%, with adjusted earnings per share of 5.36 euros, compared to a consensus of 5.22 euros.
A Paris,
Thales
(-6.16% to 143.10 euros) recorded the biggest drop in the CAC 40. The defense group's action fell after the opening of an investigation by the Serious Fraud Office (SFO, the British authority fight against financial delinquency). “Investigators from the SFO and the National Financial Prosecutor’s Office (PNF) have informed Thales of the investigation they are carrying out jointly,” the SFO said in a statement yesterday. The high-tech company is suspected of bribery and corruption involving 4 of its entities in France and the United Kingdom.
Vinci
(-0.15% to 100.15 euros) is holding an investor day this Friday dedicated to the 2030 outlook Vinci Energies. The group is banking on annual growth in mid-to-high single digit turnover on average between 2024 and 2030, on an operating margin of at least 7.5% in 2030 and on an earnings conversion rate. net cash of at least 100% on average over the period The enterprise value of Vinci Energies, as estimated by the group, is greater than 20 billion euros.
Today's macroeconomic figures
Activity in the manufacturing and services sectors came in below expectations in France in November, S&P Global indicated according to a first estimate. The Composite Purchasing Managers' Index, which includes these two sectors, fell from 48.1 to 44.8 between October and November, a 10-month low. In detail, the manufacturing PMI stood at 43.2 in November against a consensus of 44.6 after 44.5 in October. The services PMI stood at 45.7 against the consensus 49 after 49.2 the previous month.
Activity in the manufacturing and services sectors came in below expectations in the euro zone in November, S&P Global indicated according to a first estimate. The Composite Purchasing Managers' Index, which includes these two sectors, fell from 50 to 48.1 between October and November, a 10-month low. An index below 50 signals a contraction in the sector.
In Germany, the manufacturing purchasing managers' index (PMI) stood at 43.2 in November against a consensus of 43.1 after 43 in October, S&P Global said. The services PMI stood at 49.4 versus the consensus 51.8 after 51.6 the previous month.
Germany recorded a drop of 0.3% in its GDP in the third quarter on an annual basis against a consensus of -0.2% after a drop of 0.2% in the previous quarter.
Around 12 p.m., the euro lost 0.46% to 1.0429 dollars.
Related News :