(CercleFinance.com) – After spending the entire day in negative territory, with a low point at 7,728 points at the end of the morning (around -0.5%), the Paris Stock Exchange slowly reduced its losses in second part of the session.
At the final bell, all losses were erased and the index ended in perfect balance, at 7768 points (+0.00%), despite the marked declines of Thales (-4.7%), Alstom (-3%). or even Legrand (-2.5%).
For its part, the SBF120 is marked by the spectacular declines of auto equipment manufacturers, notably -12.6% for Forvia and -6.8% for Valeo.
Trade was nevertheless limited on European markets in the absence of American operators who were celebrating ‘President’s Day’.
French values did not react unduly to Bruno Le Maire’s comments this Sunday on TF1’s ‘8 p.m.’
The Minister of Economy and Finance announced a downward revision of the country’s growth forecasts for 2024, going from 1.4% to 1% (just like the IMF, but the OECD is not expecting more than 0.6%, the consensus of economists expects 0.8%).
Consequently, the State will have to make ‘ten billion euros in additional savings’ (including 800 million euros in budget reduction for ‘Ma Prime Rénov’ and 1 billion euros in cuts in ‘development aid’).
After the flood of results, statistics and monetary decisions of recent weeks, the week which begins promises to be calmer than the previous ones… but watch out for the publication of Nvidia’s quarterly on Wednesday: expectations are stratospheric and origin of a gain which has already reached +46% this year.
Any disappointment could result in heavy profit-taking and would impact the semiconductor sector, the driving force of the S&P500 since fall 2022.
As for US figures considered important by Wall Street, we will have to wait until this Thursday to discover the preliminary results of S&P Global surveys carried out among purchasing managers (PMI) in the private sector.
The market will also take stock of the monetary policy of the American Federal Reserve with the publication, Wednesday evening, of the ‘minutes’ of the January meeting, which saw the Fed keep its rates unchanged.
Expectations of rate cuts in the United States have been sharply revised downwards recently in the wake of good figures on growth, employment and inflation.
While the market was counting at the start of the year on a rate cut of 175 to 200 basis points from March, only 100 basis points are now expected, and from June.
In Europe, the week still promises to be relatively busy with upcoming announcements from Air Liquide, Carrefour, Nestlé, Mercedes-Benz, AXA, Engie, Deutsche Telekom, Allianz and BASF.
In the news of French companies, the group specializing in cold logistics Stef indicates that its board of directors has decided to cancel 150,000 treasury shares, or 1.15% of the share capital, of shares which had been acquired as part of a share buyback program.
Thales announces that it will provide, with its SurfSAT-L solution, satellite communications capabilities to the F126 frigates, the most important frigates in the German Navy fleet, capable of operating at all latitudes.
Air Liquide announces investing more than 50 million euros to build a new innovative production unit in Singapore and to transform its current facilities located in Malta (New York State), with the aim of supplying ultra-pure nitrogen to GlobalFoundries.
Veolia announces that it has signed, via its Hungarian subsidiary, an agreement with Uniper for the acquisition of a power plant with an installed capacity of approximately 430 megawatts located in Gönyű, in the north-west of Hungary.
Rothschild & Co announces the opening of its new office in Riyadh, located in the King Abdullah Financial District, as part of its strategic expansion in Saudi Arabia, strengthening its presence in the Middle East.
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