(CercleFinance.com) – The Paris stock market lost almost 1% this morning, around 7420 points, notably penalized by the declines of Teleperformance and Stellantis (-3%) and Worldline (-2.7%).
A break seems to be taking shape today after the Parisian index tested yesterday the 7500 points, following the publication of indicators having shown a growth superior to expectations in the euro zone in the second quarter, as well as an inflation which is calms down.
This morning, investors took note of the PMI figures at half mast. Thus, the PMI HCOB index for the French manufacturing industry, calculated by S&P Global, fell from 46.0 in June to 45.1 in July, its lowest level since May 2020, and therefore signals further deterioration. of the outlook for the French manufacturing sector in July.
This new contraction resulted from declines in production and new orders, for a fourteenth consecutive month. At the same time, manufacturers reduced their workforces for a second month in a row.
For the euro zone, at 42.7 in July against 43.4 in June, the HCOB PMI index for the manufacturing industry, calculated by S&P Global, fell for a sixth consecutive month in July, signaling the strongest deterioration in the zone’s industrial situation since May 2020.
If we exclude the survey periods coinciding with the months of confinement imposed during the Covid-19 pandemic, it also shows its lowest level since the global financial crisis of 2008/2009.
Operators are now awaiting the results of several American heavyweights of the caliber of Caterpillar, Merck and Pfizer which are due to unveil their accounts today before the opening of Wall Street, while awaiting publications from AMD and Starbucks this evening after the close. .
On the Old Continent, HSBC, bp, Diageo and Daimer presented their performances this morning.
Another support factor, the trend is returning to calm on the bond market, where the yield of the ten-year German Bund posted a decline of one basis point to 2.49%.
On the other side of the Atlantic, the yield on ten-year Treasuries is also easing, not far from 3.95%, which favors the upward movement on the equity markets.
In French company news, Atos announces that it has entered into a put option agreement with EP Equity Investment (EPEI), providing for exclusive negotiations to sell it its subsidiary which will hold its Tech Foundations (TFCo) business following the internal reorganization currently being finalized.
Saint-Gobain indicates that it has finalized the sale of CertainTeed’s palisade, barrier and terrace business in the United States to Oldcastle APG, a company of the Irish group CRH.
DBV Technologies publishes a result for the first half of 2023 in net loss of 44.8 million dollars, against a loss of 39.7 million a year earlier, due to an increase in operating expenses to 50.7 million.
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