(BFM Bourse) – The Parisian index ended with a slight decline on Tuesday, with caution still being required before many meetings. On Wall Street, the market is awaiting Apple’s keynote and sanctioning Oracle’s results.
Another session where the news mainly took place on the other side of the Atlantic. The CAC 40 ended Tuesday down and without much conviction, with a decline of 0.35% to 7252.88 points.
The hesitant trend anchored itself in the red after the downward opening of the American indices. Shortly before the close of European markets, the S&P 500 dropped 0.5% and the Nasdaq Composite lost 0.8%, with Oracle suffering greatly.
The American IT services group saw its first quarter results be punished, with the stock plunging 11.8%, due to revenues lower than expectations. The growth dynamic in dematerialized IT services has not necessarily satisfied investors.
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Waiting for the ECB
The other star stock of the day remains Apple which is holding its keynote in a few hours where the group should unveil new products including the iPhone 15. To see if this presentation will constitute a downward or upward catalyst for a title which for per hour loses 1.7%.
Otherwise, the market awaits the publication of American inflation figures for August on Wednesday and especially the monetary policy meeting of the European Central Bank the following day.
“The consensus of economists is divided on the decision and the markets assess the chances of an increase” in key rates at around 40%, Pictet Wealth Management pointed out on Friday.
On the value side, L’Oréal lost 1.44%, suffering from a deterioration in sales from Deutsche Bank which is worried about the slowdown in China.
On the broader SBF 120 index, SES-imagotag jumped again (+12.2%), while investors appreciated the strong progression in the half-year results of the electronic label specialist.
OSE Immuno took more than 60%
Vallourec gained 0.2%, the specialist in seamless tubes indicated ahead of a day dedicated to investors that it could resume paying a coupon as soon as it is out of debt, normally in 2025. The group also reveals its ambitions in new energies.
Interparfums dropped 0.9% after expressing caution for the second half, and delivering an operating margin target lower than expected for the whole of 2023.
On the smaller cap side, OSE Immunotherapeutics soared by more than 60% after announcing positive data for its vaccine against advanced lung cancer.
Rallye plunged 15% as the Financial Markets Authority imposed a financial penalty of 25 million euros on the parent company of the Casino group, accusing it of having disseminated false or misleading information.
On other markets, the euro lost 0.2% against the dollar at 1.0728 dollars. Oil is progressing significantly. The November North Sea Brent contract advanced 1.8% to $92.25 per barrel, while the October contract appreciated 2.1% to $89.14 per barrel.
Julien Marion – ©2023 BFM Bourse