(CercleFinance.com) – In positive territory since the opening, the Paris Stock Exchange ended the session with a significant gain of 2%, to 7162 points, notably driven by Alstom (+4.5%), Renault (+3 .7%) or even Teleperformance (+3.6%).
The resumption of the Israeli-Palestinian conflict paradoxically coincides with a renewed confidence in the markets. Wall Street is not left out with +1% for the Nasdaq and the S&P500.
According to Deutsche Bank, this resilience can be attributed to the accommodating comments made by Lorie Logan, a Fed official who is nevertheless known as a ‘hawk’.
‘Lorie Logan said higher yields could mean there is less need for the Fed to raise rates further, with financial conditions tightening substantially in recent months,’ the German bank explains.
On the bond front, precisely, the 10-year German bund is moving at 2.78%, the French OAT at 3.33% and US Treasury bonds at 4.65%.
On the statistical side, the US Department of Commerce reported a decline of 0.1% in the inventories of American wholesalers in August compared to the previous month, after a decrease of 0.3% in July (revised from an initial estimate which was -0.2%).
Operators are now awaiting the publication of results from LVMH which must unveil its activity report for the third quarter after the close this evening, thus launching the season of quarterly publications on the Paris Stock Exchange.
In the news of French companies, Euroapi announced that it had revised downwards its objectives for the year 2023, thus now estimating that the growth of its turnover should be between +3 and +5%, against +7 to +8% previously.
Maisons du Monde announces a lowering of its annual objectives ‘due to a deterioration in consumer confidence observed in Europe, affecting overall non-food consumption for the second half of the year’. According to him, its third quarter sales should decrease by 9.4% compared to the same period in 2022.
Getlink announces that its LeShuttle shuttle service transported 211,819 passenger vehicles in September 2023, up 4% compared to the same month of 2022, benefiting in particular from the impact of the Rugby World Cup.
Eutelsat announces the signing by Marlink of a commitment for Ku-band GEO broadband capacity on board the Eutelsat 10B satellite, covering Europe, the Middle East and Africa, without forgetting the main links maritime regions of the globe.
Stifel maintains its hold rating on Hermès shares, with an unchanged price target of 1,850 euros. The analysis office estimates that Hermès should once again demonstrate its defensive characteristics in the 3rd quarter of 2023. Stifel thus models sales growth of +14% at constant exchange rates.
While reducing its price target from 443 to 423 euros on L’Oréal, Barclays maintains its ‘overweight’ recommendation, anticipating organic growth of 11.7% in sales for the third quarter of 2023 for the world number one cosmetics company.
Finally, Alstom today announced the first results of the first North American hydrogen train demonstration.
The Coradia iLint transported more than 10,000 passengers on more than 130 trips totaling 10,660 kilometers in Quebec this summer, from mid-June to the end of September.
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