The Paris Stock Exchange grabbed a few points in the wake of the sharp rebound on Wall Street and in the prospect of a possible reopening of the Nord Stream 1 gas pipeline on the scheduled date. The market is nevertheless awaiting the intervention of Mario Draghi before the Parliament against the backdrop of the political crisis in Italy.
Around 10 a.m., the Bedroom 40 takes 0.19% to 6,213.20 points in a business volume of 340 million euros.
In New York, the S&P 500 and the Nasdaq Composite closed up 2.8% and 3.1% respectively on Tuesday, supported by overall better than expected corporate results. Netflix also reassured after the stock market by counting on a return to growth in the number of its subscribers in the third quarter after having lost fewer than expected in the second. The action rose 7.8% in after-market transactions.
Draghi in front of Parliament, the ECB attentive
The President of the Italian Council Mario Draghi must solicit the confidence of Parliament at the end of the afternoon. With the key to the confirmation or not of his desire to resign from his post, already rejected by the President of the Republic last week following the refusal of the 5 Star Movement to vote for a package of support measures.
His decision will be scrutinized by the European Central Bank on the eve of the meeting of its Board of Governors. The ECB has warned the markets that on this occasion it will carry out its first monetary tightening in 11 years. The increase could reach 50 basis points, against the 25 initially announced, according to sources cited by Bloomberg, in exchange for an agreement on the anti-fragmentation mechanism intended to protect the most fragile economies in the euro zone.
Carrefour sells its activities in Taiwan
Either way, the expectation of a bigger rate hike is supporting the euro, which is trading at $1.0245, which has the effect of containing the oil bill, denominated in US currency. A barrel of Brent from the North Sea fell nearly 1.5% to 105.69 dollars.
Crossroads increased by 2.3%. The distribution group has announced the signing of an agreement to sell its 60% stake in Carrefour Taiwan to the Uni-President group, a decision which marks the refocusing of the French distributor on Europe and Latin America. The price of this operation could reach 1 billion euros.
Publicis earns 2%. The American Omnicom reported growth in earnings per share to $1.68 in the second quarter and an improvement of 0.7 points to 15.8% in its gross operating profit margin. Publicis is due to present its quarterly results on Thursday.
Main supporter of the Cac 40, TotalEnergies gained 1% while HSBC raised its price target from 57 to 60 euros.
Virbac on the contrary gives up 4.5%. The veterinary drug producer has confirmed that it expects organic growth of 5% to 10% of its turnover this year after the publication of a 13.5% increase in its revenues to 298.3 million euros in data. published in the second quarter, and 7.8% at constant exchange rates and perimeter.
At the European level, Unite signs the best performance of the Stoxx 600 with a jump of 6% following information from the Handelsblatt that the details of its recapitalization by the government could be discussed with Chancellor Olaf Scholz on Friday.