(BFM Bourse) – The Paris Stock Exchange is back below 6,500 points, the mood is now cautious before the publication of inflation figures for July in the United States, Wednesday. In New York, the trend is feverish in the wake of the warning on turnover announced by Micron after that launched by Nvidia on Monday.
Slightly down at midday, the Paris Stock Exchange increased its losses in the wake of Wall Street, the American place was scalded by a new warning hitting the semiconductor sector. After giant Nvidia on Monday, it’s Micron’s turn to lower its annual sales ambitions.
The main three-color index fell 0.53% back below 6,500 points to close at 6,490 points on Tuesday evening, still in a volume of transactions contained in this summer low. On Wall Street, the Dow Jones is close to equilibrium while the Nasdaq for its part yields 1.1%, weighed down by semiconductor manufacturers.
In addition to warnings issued by semiconductor manufacturers, initiatives remained limited as investors nervously awaited the release of US inflation figures on Wednesday.
The publication of inflation figures for July could indeed give an indication of the next increases in key rates by the American Central Bank to curb a surge in prices. The latest US employment figures showed a 5.2% rise in average hourly earnings over one year due to labor shortages. An inventory that should push the Fed to continue its monetary normalization movement if inflation does not calm down. The probability of another rate hike of 0.75% in September is estimated at more than 70% from 34% on Thursday, before the release of US employment figures.
STMicroelectronics weighed down by Nvidia and Micron
Biggest drop in the CAC 40 at the close STMicroelectronics lost 5.2% in the wake of sales warnings from Nvidia and Micron.
Sanofi limited its losses to 1.4% after suspending global recruitment for trials of its multiple sclerosis drug tolebrutinib.
For its part, Valneva rose 1.5%, the biotechnology company and its partner Pfizer announced on Monday evening that they had launched a phase 3 clinical study to assess the efficacy, safety and immunogenicity of their vaccine candidate. experimental against Lyme disease, the VLA15.
Elior recovered another 6.6%, bringing its rebound to almost 60% since the publication at the end of July of better than expected activity, with in particular organic growth of 25% for its third quarter of its 2021 financial year. 2022.
Eutelsat gained 0.8%. The maritime transport company CMA CGM announces that it has crossed the threshold of 5% of the capital and voting rights of the satellite operator Eutelsat.
The euro remained well oriented at $1.0225 as investors waited for US inflation data to assess the Fed’s upcoming monetary policy.
Sabrina Sadgui – ©2022 BFM Bourse