(BFM Bourse) – The CAC 40 is progressing quite significantly at mid-session this Thursday, investors being busy digesting the numerous company publications. Unibail-Rodamco-Westfield and Kering satisfy the market, unlike Crédit Agricole SA.
The session is busy for the Paris Stock Exchange, with investors having to dissect a large number of results. For now, the positive prevails, the CAC 40 increasing by 0.4% to 7642.45 points at the start of the afternoon.
On the macroeconomy, investors continue to ruminate on the future decisions of the major central banks. “The events of recent days have seen markets attempt to digest the fact that rate cuts may have to wait until much later in the year, and what any delay means for asset prices and valuations.” Michael Hewson of CMC Markets.
Minneapolis Federal Reserve (Fed) President Neel Kashkari said he expected two or three rate cuts from the Fed this year.
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Unibail delights the market
The news is mainly dominated by numerous company publications. Unibail-Rodamco-Westfield gains 5.8% after announcing the return to a dividend this year for 2023.
ArcelorMittal seduces the market with its results and its prospects, gaining 3.4%.
Kering rose 4% after publishing a slightly weaker decline in revenue than expected in the fourth quarter and announcing investments to relaunch its flagship brand Gucci.
Conversely, Crédit Agricole SA suffered a sharp decline, losing more than 6%, after publishing a gross operating result lower than expected, with revenues lower than expected. Societe Generale (-0.8%) is doing better, its accounts having on the contrary been a little better than expected in the fourth quarter.
Excluding CAC 40, Soitec gained 5.6% even though the group published revenues lower than expected in its delayed third quarter, lowered its outlook for its 2023-2024 financial year and postponed its target by a year. business of $2.1 billion, initially expected for fiscal year 2025-2026. But the group also announced a new customer for its SmartSiC technology, a silicon carbide substrate.
On other markets, the euro fell by 0.1% against the dollar to 1.0762 dollars. Oil is rising a little. The North Sea Brent contract for April gains 1% to $80 per barrel while the March contract advances 1% to $74.57 per barrel.
Julien Marion – ©2024 BFM Bourse