(CercleFinance.com) – Down more than 0.6% towards 6,000 points, the CAC40 suffered profit taking this Wednesday in Paris, when many statistics were published, and the day after a particularly prosperous session for all European markets.
“Shares rose on Tuesday as investors dampened expectations of interest rate hikes for the rest of the year,” Liberum said, after the FTSE 100 jumped 2.6% and 3. 6% for the ex-UK Stoxx.
The session is busy on the macroeconomic front in Europe, with the German trade balance and French industrial production for August, and especially the S&P Global composite PMI indices for the past month.
In August 2022 in France, production rebounded in manufacturing industry (+2.7% after -1.6%) as in industry as a whole (+2.4% after -1.6%), according to data corrected for seasonal variations and the number of working days (CVS-CJO) from INSEE.
Having recovered from 50.4 in August to 51.2, the S&P Global composite PMI of overall activity in France signals a slight strengthening in the growth of activity in the French private sector in September.
Concerning the United States this afternoon, traders will be attentive to the results of the ADP survey for the private sector in September and to the trade balance for August, then to the latest composite PMI and non-manufacturing ISM indices.
On the securities side, Engie has finalized the sale of Equans to the Bouygues conglomerate, after an exclusive negotiation which began in November 2021, a transaction which will reduce the net debt of the energy group by around 7.1 billion euros. .
STMicroelectronics announces that it will build an integrated silicon carbide (SiC) substrate manufacturing unit in Italy to meet the growing demand for SiC components from its customers for the automotive and industrial sectors.
Goldman Sachs Bank Europe and Société Générale, acting on behalf of the French State, officially filed with the AMF on October 4 a draft simplified tender offer for EDF shares, at a unit price of 12 euros per share.
Stifel reiterates its ‘buy’ recommendation on Kering while lowering its target price from 670 to 600 euros, estimating that while Gucci remains an issue that attracts attention, the valuation seems convincing for long-term investors.
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