The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended down 0.67% on Tuesday, with the market remaining cautious ahead of a series of speeches from American central bankers and before the results of the American Nvidia, the artificial intelligence giant.
The star CAC 40 index dropped 54.51 points to finish at 8,141.46 points. On Monday, in low trading volumes, it gained 0.35% to finish at 8,195.97 points.
The session was marked by “nervous factors for the markets”, summarizes Florian Ielpo, head of macroeconomic research at Lombard Odier IM.
The speeches of “five American central bankers” are on the agenda for Tuesday, including those of Christopher Waller, governor of the Fed, and Raphael Bostic, president of the Atlanta Fed, specifies the economist.
“What we read implicitly is that the weakness of the transmission of monetary policy to the real economy” is a subject for the monetary institution, whose members repeat that the Fed’s rate cuts will have to be still waiting, continues Florian Ielpo.
In terms of the American central bank, investors will turn on Wednesday to the minutes of the last meeting, which ended on May 1, before giving way to the publication of Nvidia’s first quarter results, expected after the closing of Wall Street.
Nvidia is particularly anticipated since it is “the only title of the Magnificent Seven to be totally linked to artificial intelligence”, explains Florian Ielpo.
The electronic chip manufacturer is the third largest market capitalization of the Magnificent Seven, the nickname given to major American “tech” players. Since January 1, Nvidia’s share price has increased by more than 90% and, over the last twelve months, the value of the stock has gained more than 200%.
TotalEnergies under pressure
The giant TotalEnergies announced the launch of an oil project located off the coast of Angola, whose production should begin in 2028 with the objective of reaching “a plateau of 70,000 barrels of oil per day”.
The French oil giant’s stock market session was also marked by the filing of a complaint against it, but also against its managers and its shareholders, by three NGOs and eight people from around the world who accuse TotalEnergies of manslaughter and attacks on biodiversity.
The title dropped 0.90% to 66.40 euros.
Sanofi focused on AI
The French pharmaceutical laboratory Sanofi gained 0.94% to 90.00 euros after announcing a collaboration with OpenAI (company creating ChatGPT) and the American biotech Formation Bio, to accelerate the use of artificial intelligence in the development of drugs.
© 2024 AFP
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