(CercleFinance.com) – Nothing moves 40 minutes from the close: the Paris Stock Exchange (-0.4%) aligns a 3rd session of sideways drift within a narrow channel (6.405/6.445), with scores that seem unable to move in any direction after freezing after a quarter of an hour after opening.
After 90 minutes of trading on Wall Street, the US indices sink into the red: the Dow Jones yields -0.9%, the S&P500 and the Nasdaq -1.2%. The Euro-Stoxx50 shifts by -0.5%, while across the Atlantic the electoral counting operations are prolonged, the results of the midterm elections give the Republicans a majority in the House of Representatives but the Democrats would only lose thirty seats against 40 for Donald Trump at mid-term.
It should be noted that the conservative candidates who received the specific support of the former President were most often beaten.
The Senate would also switch to the Republican side by the most symbolic advantage of a seat.
No ‘red wave’, that is to say Republican, but these results confirm the scenario according to which Joe Biden will have to live with a hostile Congress for the last two years of his mandate.
In the eyes of investors, a Republican majority in the House would notably make it possible to hinder the plans of the Democrats in tax matters and to rule out tax increases likely to weigh on corporate profits.
In this context, the dollar regained a tiny bit of ground: +0.4% towards 1.003E, the ‘Dollar Index’ posted +0.5% (around 110.2) against a basket of currencies.
The only two statistics on the program of the day being the stocks of American wholesalers, then the weekly oil reserves in the United States.
Wholesale inventories rose 0.6% in September 2022 sequentially in the United States, according to the Commerce Department, after increasing 1.4% the previous month (revised from an initial estimate which was + 1.3%).
Sales by wholesalers, for their part, increased by 0.4% in September.
On the oil stocks side, the data published by the American Energy Information Agency (EIA) crude oil reserves show an increase of 3.9 million, to 440.8 million barrels during the week of October 31 in the States. -United.
On the other hand, stocks of distilled products – including heating oil – fell (-500,000 barrels) while gasoline stocks fell a little more frankly (-900,000 barrels), compared to the previous week.
Finally, the EIA indicates that the refineries operated at 92.1% of their operational capacity during this same week, with an average production of 9.8 million barrels/day.
This statistic has little impact on the price of WTI, which continues to fall: -1.6%, around $87 a barrel.
In securities news, Veolia publishes EBITDA of 4.53 billion euros for the first nine months of 2022, representing growth of 5.2% at constant scope and exchange rates, for revenue of 30 .7 billion, up 49.1% at constant exchange rates.
Getlink said its Shuttle carried 163,430 passenger vehicles in October, up 20 percent from the same month in 2021, while its Shuttle Freight carried 114,747 trucks, down 6 percent year-on-year.
Finally, Viel & Cie indicates that it recorded strong growth in its activity in the third quarter of 2022 with revenue of 248.7 million euros, up 26.2% at current exchange rates and 18.2 % at constant exchange rates.
Few reactions to the 6% increase in Orpea’s turnover or to the mention of a capital increase of 4MdsE (not yet recorded), the title lost 2% to 8.14E.
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