(BFM Bourse) – The Paris Stock Exchange ends below 8,100 points, in a cautious market before the publication of Nvidia’s quarterly results, and the report of the latest monetary policy meeting of the Federal Reserve. The decline in the luxury sector also weighed on the trend in Paris.
The Paris Stock Exchange further lost ground this Wednesday, gradually approaching its one-month lows.
After being tested several times, the floor of 8,100 points finally gave way. The CAC 40 therefore lost 0.61% to end its run at 8,092.11 points this Wednesday evening.
The Paris market is tense, with investors assailed by many doubts about the future intentions of the Federal Reserve in terms of monetary policy. To try to provide some food for thought, operators will read the Fed Minutes this Wednesday at 8:00 p.m. As a reminder, this is the traditional chronological report of the debates which took place at the last monetary policy meeting (FOMC).
The markets are also holding their breath before the publication of Nvidia’s first quarter results, this Wednesday evening after the market. The American giant’s announcements are awaited with a certain excitement, as the market hopes for an excellent copy for Nvidia. Moreover, the market is counting on an upward or downward variation in the market capitalization of the group of 200 billion dollars, according to Reuters.
Luxury lagging behind
The decline in values in the luxury sector also contributed to causing these sell-offs on the Parisian coast. Strongest decline in the CAC 40 this Wednesday, Hermès fell by 4.3%, followed by LVMH (-2.1%) and Kering (-0.95%) after the publication of Chanel’s results, and especially the declarations of its financial director on the market environment, which presents itself as “more difficult”.
The automotive sector is also under pressure, while Beijing is considering an increase in customs duties on large gasoline vehicles. On the Frankfurt Stock Exchange, Porsche shares ended down 3.7%, BMW lost 1.8%, Mercedes (-1.5%) and Volkswagen (-0.9%) also fell. In Paris, stocks in the sector are doing better with Renault jumping 1.4% while Stellantis contained its decline to 0.2%.
Schneider Electric gained 0.8%, the market taking note of the abandonment of the takeover of Bentley Systems by the French group.
On the small and mid-cap side, the healthcare sector was in good shape. Ose Immunotherapeutics jumped 14.7% after extending its partnership with Boehringer Ingelheim, followed by Genfit which rose more than 11%.
On other markets, the euro lost 0.1% to 1.0841 dollars. Oil prices continue to consolidate after the announcement of a surprise increase in American stocks. The July North Sea Brent contract fell 0.6% to $82.40 per barrel, while the July WTI contract also fell 0.6% to $78.23 per barrel.
Sabrina Sadgui – ©2024 BFM Bourse