The automotive sector is going backwards
Around 1:40 p.m. GMT, British luxury car manufacturer Aston Martin tumbled 23.76% in London after announcing that its annual result would be weighed down by disruptions in its supply chain and the weakness of the Chinese market.
In Paris, the Franco-Italian-American manufacturer Stellantis fell 13.97% after the announcement of a clear downward revision of its operating margin objective for the year 2024. The group now estimates it between 5. 5% and 7% against a “double-digit” objective previously, pointing to a “deterioration” of the automobile market.
Friday evening, it was Volkswagen (-2.31% in Frankfurt), the leading German and European automobile manufacturer, which lowered its turnover and profitability forecasts for 2024 due to the slowdown in sales.
In Europe, Renault dropped 5.45%, Volvo 4.27%, OPmobility (-4.22%), Porsche 3.14%, BMW 2.17%.
Rightmove ups the ante
The British real estate ad site Rightmove plunges (-7.96% in London). The Australian REA Group, controlled by media mogul Rupert Murdoch, announced that it would not acquire the group, which had rejected a fourth takeover offer.
The car manufacturer Stellantis falls suddenly on the Paris Stock Exchange
Hesitant oil
Oil prices are hesitant on Monday, weighed down by the prospect of an increase in production but sensitive to geopolitical risk after new strikes by the Israeli army in Lebanon and Yemen.
Around 1:40 p.m. GMT, the price of a barrel of Brent from the North Sea finally dropped 0.44% to 71.66 dollars and the barrel of American West Texas Intermediate (WTI) remained stable (+0.08%), at 68, 24 dollars. On the foreign exchange market, the dollar fell by 0.13% against the euro, to 1.1176 euros. Bitcoin fell by 2.76% to $64,016.
