(CercleFinance.com) – The Paris stock market lost nearly 0.6% this morning, around 7290 points, despite encouraging PMI statistics.
Thus, the composite flash PMI index of overall activity in France, calculated by S&P Global, stood above the 50.0 bar of no change, thus signaling a recovery in private sector activity. French in February.
Having recovered from 49.1 in January to 51.6, the index has indeed settled into positive territory for the first time since October 2022. While it only indicates a moderate rate of expansion, however, it is the strongest recorded since last July.
Economic developments, however, diverged significantly between sectors: manufacturers reported a drop in production for a ninth consecutive month, while service providers saw their first increase in activity for four months.
Moreover, according to its flash estimate, the S&P Global composite PMI index of activity in the euro zone recovered for a fourth consecutive month in February.
At 52.3 against 50.3 in January, it thus signals the strongest growth in the private sector since May 2022.
“While the end of winter is approaching in Europe and gas reserves are well above average, optimism for the economy continues to rise”, notes Philippe de Gouville, CEO and co-founder of fintech Ismo.
While the medium-term outlook remains marred by uncertainty, fears of energy rationing are fading, which could prolong the timid recovery in confidence that began at the start of the year.
The day will also be marked by the publication of the index measuring the morale of investors in Germany, compiled by the institute of economic studies ZEW.
In corporate news, payment solutions group Worldline reports normalized EPS up 23.4% to 1.94 euros for 2022, as well as free cash flow of 520 million euros, or 45 .9% conversion of an OMDA (gross operating surplus) of 1.13 billion.
Capgemini reveals normalized EPS up 25% to 11.52 euros for the past year, as well as organic free cash flow generation of 1.85 billion euros, i.e. an amount greater than 1, 7 billion, in line with the target.
Finally, Engie publishes net recurring income (RNR) group share (continuing operations) up 78.4% to 5.2 billion euros for 2022, as well as EBIT up 47.2% to nine billion and an EBITDA up 29.8% to 13.7 billion.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
