(BFM Bourse) – The CAC 40 is moving very slightly down this Tuesday at mid-session, while market operators are digesting a shower of Chinese indicators, including the first estimate of annual growth.
The stock market rally experienced by the Paris market since the start of the year is showing signs of weakening. The CAC 40 thus evolves slightly lower at mid-session and yields 0.21% to 7,028.66 points.
This profit-taking comes as market operators dissect many economic indicators from China this morning. First of all, the country’s growth reached 2.9% over one year in the fourth quarter and 3% on average over the whole of 2022, the lowest figure since 1976 if we exclude the year 2020 marked by the seal of the pandemic.
For their part, retail sales fell by 1.8% over one year in December, while industrial production rose by 1.3% over the same period and for the same month.
“The Chinese statistics for December are above expectations but confirm a sharp deterioration in the economy, penalized by the health measures implemented over part of the month”, notes Christian Parisot, economist of the broker Aurel BGC, quoted by l AFP.
Engie in the gas
In Germany, the ZEW index, which measures the confidence of German investors, rose sharply, returning to green for the first time since the war in Ukraine.
As for values, LVMH crossed during the session the 400 billion euros of market capitalization and yielded 0.2% at mid-session.
Engie sells 5.1%. In a note published on Tuesday, UBS perceives risks to the group’s financial results from this year, in particular due to the drop in gas prices. The Swiss bank also believes that the consensus on the results of 2023 and 2024 has expectations that are too high. For these reasons, it considers that the group’s action could come under pressure between now and the publication of the group’s annual results. However, it confirmed its recommendation to buy, deeming the stock cheap.
On other markets, the euro fell 0.06% against the dollar to 1.0823 dollars. Oil prices are rising. The barrel on Brent from the North Sea advances by 1.1% to 85.39 dollars per barrel while that on WTI listed in New York advances by 0.4% to 80.41 dollars per barrel.
Julien Marion – ©2023 BFM Bourse