(BFM Bourse) – The Parisian index is moving down at mid-session, undermined in particular by the declines in Worldline and Capgemini.
The CAC 40 continues to bend under profit taking. The Parisian index lost 0.31% at mid-session to 7,312.83 points after having already fallen by 0.16% the day before.
Market operators must dissect a wave of indicators in Europe. In particular the PMI indices for the month of February. If the composite index (which takes into account global activity) exceeded expectations, with an indicator at 52.3, the manufacturing industry index alone fell to 48.5, against 48.8 in January , and 49.3 expected on average by economists polled by Reuters. Remember that a figure of 50 marks the border between an expansion and a contraction of activity.
“While price pressures eased again in February, the survey nevertheless highlights continued strong inflationary pressures in the services sector, due in particular to higher wage costs. leaders of the European Central Bank, this trend, combined with the acceleration of growth, is likely to argue in favor of a further tightening of monetary policy in the coming months”, also explained Chris Williamson, economist at S&P Global Market Intelligence.
The ZEW index, which measures investor confidence in Germany, also rose to 28.1 in February, above the figure of 22 expected on average by economists.
Engie floats
In terms of values, tech is suffering. On the CAC 40, Worldline lost 2.8% after publishing disappointing margin forecasts, Capgemini lost 3% despite results deemed convincing by analysts. Excluding the CAC 40, Atos lost 4.2% and Sopra Steria lost 3%.
Against the trend, Engie won 4.7% after publishing annual accounts that exceeded expectations, driven by gas and electricity prices.
Edenred advances by 1.3% while the specialist in payments in the world of work, has generated growth above expectations for the fourth quarter of 2022.
On other markets, the euro fell 0.2% against the dollar to 1.066 dollars. Oil contracts evolve in disorganized order. The North Sea Brent contract for delivery in April was stable at 84.01 dollars a barrel, while that of the same term on WTI listed in New York rose 1.2% to 77.42 dollars a barrel.
Julien Marion – ©2023 BFM Bourse