(AOF) – European indices are plunged into the red. STMicroelectronics escapes the decline. Leader of the CAC 40, its stock is supported by Infineon Technologies which published more solid results than expected for the past quarter. On the statistical side, on a monthly basis, inflation in Germany stood at +0.4% in October as expected. On Thursday, investors will learn data on GDP for the third quarter and data on industrial production in September in the euro zone. Around 12 p.m., the CAC 40 lost 1.29% to 7,331 points and the Eurostoxx 50 lost 0.99% to 4,806 points.
Bayer
(-10.77% to 21.79 euros) shows the biggest drop in the DAX index after the publication of its third quarter results. The German chemical group has lowered its annual Ebitda forecast, now counting on a range of 10.4 to 10.7 billion euros, compared to 10.7 to 11.3 billion previously. Bayer's Ebitda fell 25.8% year-on-year in the third quarter, to 1.25 billion euros against a consensus of 1.31 billion. “The development of the agricultural market was weaker than expected, particularly in Latin America,” underlines management.
STMicroelectronics (+2.73% to 25.96 euros) shines at the top of the flagship index of the Parisian market, against a declining market. The semiconductor manufacturer, whose action has fallen 42% since the start of the year, is supported by its German counterpart Infineon Technologies (+5.1% in Frankfurt) which published more solid results than expected for the past quarter. However, Infineon indicated that it expects a decline in its turnover during the financial year which ends in September 2025.
Bureau Veritas
(-0.55% to 28.82 euros), global leader in the testing, inspection and certification (TIC) industry, announces the acquisition of Versatec Energy BV, an independent technical consulting company, specializing in the offshore and onshore energy industry. This acquisition is part of the LEAP strategy | 28 to create a new stronghold in the fast-growing renewable energy segment. The amount of the transaction was not disclosed.
Macroeconomic figures
On a monthly basis, inflation in Germany stood at 0.4% in October as expected. She was stable last month. On an annual basis, inflation was 2% in October as expected and compared to 1.6% in September. On an annual basis, HICP inflation was 2.4% in October as expected and compared to 1.8% in September.
The Zew index of German investor sentiment on the economic outlook stood at 7.4 in November compared to 13.2 expected after 13.1 in October.
The Zew index of economic sentiment among investors in the euro zone stood at 12.5 in November compared to a consensus of 20.5 after 20.1 in October.
Around 12 p.m., the euro lost 0.37% to 1.0618 dollars.
