The Paris Stock Exchange rose 0.97%, relieved after the departure of Nancy Pelosi from Taiwan and driven by better than expected indicators on the health of the American economy.
The star index of the Parisian market, CAC 40, gained 62.27 points, 6,472.06 points after a session started in balance. The day before, the Parisian place had ended in decline following the landing of the president of the American House of Representatives Taiwan.
Now that worries about geopolitical tensions are behind us, at least for now, the market’s focus is shifting back to corporate earnings and economic health indicators, said CMC analyst Michael Hewson. Markets.
For the time being, this attention is focused on the United States where growth in services activity accelerated in July.
In France, the growth of activity in the private sector continued to decline in July, under the effect of a deterioration which affected both the services sector and the manufacturing sector, according to an index published on Wednesday by S&P Global. .
Good news in the midst of renewed tensions between Europe and Russia over gas supply, French gas storage, currently 80% full, will be full on November 1, according to the Minister for Energy Transition, Agns Pannier-Runacher.
However, she admitted that these reserves may not be sufficient if the winter is harsh.
Axa share buybacks delight investors
The insurer Axa exceeded expectations with a net profit of 4.1 billion euros, up slightly in the first half despite a difficult environment. Backed by these results, the group announced a one billion euro share buyback program. The title jumped 5.77%, 23.45 euros.
Societe Generale welcomes
The action of Socit Generale took 3.07% to 22.31 euros, after the group reported an increase in its net banking income (NBI), equivalent to turnover, of 12.8% in the second quarter. The bank also announced a net loss of nearly 1.5 billion euros, affected by an exceptional charge for the sale in May of its Russian subsidiary Rosbank.
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Airbus cuts ties with Qatar
Airbus has canceled the rest of its contract for the delivery of 19 A350 aircraft in the context of the dispute between it and Qatar Airways, which is claiming compensation for damage to the surface of the fuselage of part of its fleet of jumbo jets already in service. The title Airbus gained 1.32% on the session, ending 104.10 euros.
Bic revises its forecasts upwards
The French giant of pens, lighters and disposable razors Bic (+4.70% 57.90 euros) has announced that it is revising its sales forecasts upwards thanks to an increase in sales, prices and the positive impact of the fluctuation in the value of the dollar.
Suez expensive side Veolia
Veolia posted a net profit down 22%, to 236 million euros in the first half, mainly due to the costs of acquiring its former rival Suez and a depreciation of activities in Russia. Its action lost 2.76% to 24.00 euros.
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