The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange moves forward on Wednesday, confident ahead of the results of American chip giant Nvidia, the world's largest capitalization.
Around 9:00 GMT, the CAC 40 rose 0.31% to 7,252.08 points, an increase of 22.44 points.
On Tuesday, it fell 0.67%, to 7,229.64 points, a drop of 48.59 points, weighed down by the risk of military escalation in Ukraine.
“The markets' attention is focused on Nvidia's quarterly results,” summarize Natixis economists.
The American semiconductor champion, the world's largest capitalization, presents its third quarter results in the evening, after Wall Street closes.
The group became the world's largest capitalization at the beginning of November after overtaking Apple, displaying a capitalization of approximately 3,480 billion dollars, ahead of the 3,400 billion of the Apple firm, i.e. more than the total weight of the CAC 40.
Depending on what he announces, “Nvidia has the opportunity to consolidate its dominant position or trigger a market revaluation that could ripple through the technology sector and beyond,” said Stephen Innes of SPI Asset Management.
“Given the very high expectations, one might wonder whether the company can still surprise,” warns Christopher Dembik, investment specialist at Pictet AM.
“In the short term, it is possible that we will see a negative reaction from the market. This will be a good excuse to take profits,” he adds.
The markets will be on the lookout for any information concerning the new Blackwell chip, “the most powerful in the world” according to Nvidia, which promises marketing by the end of the year.
It would suffer from overheating problems, according to recent information from American media.
Investors will also continue to “carefully monitor the situation in Ukraine”, after the verbal and military escalation of recent days, according to John Plassard, investment specialist at Mirabaud.
Christine Lagarde's speech around 2 p.m. to open the annual conference of the European Central Bank (ECB) on “financial stability and macroprudential policy” in Frankfurt will also be followed very closely.
FDJ falls
La Française des Jeux (FDJ) lost around 9:00 GMT 4.88% to 37.42 euros on the broader SBF 120 index after Crédit Agricole Assurances (CAA) announced on Wednesday the sale, via its subsidiary Predica, of some 4 million of shares, or 2.2% of the capital of this company, at a price of 36.60 euros per share.
Elior dives
The title of the collective catering group Elior plunged 16.52% to 3.43 euros, after results for its delayed 2023/2024 financial year generally held up well, but with a lower operating margin forecast than expected for next year. The group is counting on an Ebita margin of 3% for its 2024/2025 financial year, compared to a forecast of 3.41% anticipated by the consensus of analysts cited by Bloomberg.
Euronext CAC40
