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(BFM Bourse) – The Paris Stock Exchange closed slightly down, weighed down by the automotive sector which suffered from the warning issued by the German group BMW on its margins. Capgemini helped limit the decline of the CAC 40 which fell 0.24% on Tuesday evening.
The rebound was short-lived for the Paris Stock Exchange, cut short in its momentum by BMW, which dragged down the entire automobile sector on the Paris market.
Renault ended the day down 3.4% while Stellantis lost 3% penalized by the German premium brand which lowered its forecasts for 2024 following a problem on a braking system that will affect its deliveries. The German manufacturer’s share price lost more than 11% on the Frankfurt Stock Exchange.
The CAC 40 thus fell by 0.24% to 7,407.55 points this Tuesday evening, losing a little ground after gaining 1% the day before.
The leading Parisian index, however, limited the damage thanks to Capgemini, which posted the biggest increase (+5.3%) thanks to an upgrade of its buy recommendation from Bank of America and the good results from the American group Oracle published on Monday evening. Another tech stock, Dassault Systèmes, rose by 1.8%, in the wake of Capgemini.
Caution remained the order of the day on the eve of the publication of US inflation figures for August, and more specifically the consumer price index, the best-known measure of price increases.
Scor boosted by rumor
Outside of the CAC 40 values, Scor gained 6.3% while according to the specialist media Insurance Insider, Covea has resumed discussions with the reinsurer with a view to a potential takeover.
Interparfums is suffering, dropping 6.4% after publishing half-year results marked by a 9% drop in its current operating profit.
On other markets, the euro is down slightly by 0.1% against the dollar at 1.1023 dollars. Oil is plunging, undermined by fears about global demand for black gold. The Organization of the Petroleum Exporting Countries (OPEC) reduced its forecasts for growth in global demand for 2024 and 2025 for the second time in a row on Tuesday.
The November North Sea Brent contract fell 4.2%, trading below $70 for the first time since December 2021, at $68.81 a barrel, while the October New York-listed WTI contract fell 4.7% to $65.48 a barrel.
Sabrina Sadgui – ©2024 BFM Bourse
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