(BFM Bourse) – The CAC 40 is moving up slightly this Thursday at mid-session, while Nvidia’s publication clearly exceeded market expectations. Investors are showing a wait-and-see attitude before Jerome Powell’s intervention on Friday afternoon.
Nvidia alone cannot boost the entire global market. Despite the excellent results of the company specializing in graphics cards, the Paris Stock Exchange rose only 0.4% to 7276.84 points at mid-session on Thursday.
Certainly, Nvidia has done all it could to support risk appetite. The company unveiled accounts for its second quarter and forecasts for the third that shattered expectations, showing that the demand for graphics chips for artificial intelligence was indeed there.
But the market remains in a difficult phase, stuck between disappointing economic indicators and the rise in bond rates, even though the latter has eased a little in recent sessions.
“Most of the negative macro news has dented the more upbeat narratives of recent weeks, when promising inflation data had raised hopes of a soft landing” for the economy, strategists at Deutsche Bank.
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Powell on the horizon
A certain wait-and-see attitude can also seize up investors, before the speech on Friday afternoon by Jerome Powell, the chairman of the Federal Reserve (Fed), at the Jackson Hole symposium.
On the values side, the movements are contained. Teleperformance wins 1.6% while Luxembourg’s Majorel, a company that the French group is in the process of buying, published solid results for the first half of 2023.
On the smallest capitalizations Aures Technologies (-35%) indicated that it anticipates further losses for the 2023 financial year and announced that it has engaged in “very advanced discussions” with industrial partners so that the latter “provide it with adequate financing and synergies operational”.
On the other markets, the euro lost 0.08% against the dollar at 1.0854 dollars. Oil prices are up a bit. The October contract on the North Sea Bent advances by 0.3% to 83.48 dollars a barrel, while that of the same expiry on the WTI quoted in New York advances by 0.3% to 79.14 dollars. the barrel.
Julien Marion – ©2023 BFM Bourse