The Paris Stock Exchange confident before the results of the American elections

The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)

The Paris Stock Exchange gained 0.39% on Tuesday, in a sluggish session ahead of the results of the midterm elections in the United States and the publication Thursday of an indicator on American inflation.

The star CAC 40 index rose 24.89 points to 6,441.50 points, the highest since August. The Parisian rating had ended in equilibrium on Monday after having rebounded strongly at the end of last week.

“Investors continue to oscillate between the possible outcome of the midterm elections in the United States, the rise in interest rates and the inflation data to come on Thursday,” summarizes Konstantin Oldenburger, analyst at CMC Markets.

American polls predict a clear victory in the House of Representatives for the Republicans while the outcome of the ballot for the composition of the Senate remains uncertain.

“The Democrats could lose the Senate, investors should see that as a good thing,” said Vincent Boy, analyst at IG France.

A divided Congress would support risky assets because it blocks the execution of laws that could be unfavorable to the market.

Thursday, the publication of the consumer price index in the United States in October will also attract all the attention of investors.

The pace of inflation is particularly scrutinized by market operators who are trying to anticipate the next steps in the policy of the American central bank (Fed), which has been raising its key rates since March to slow down the economy. Investors are now waiting for signs of a change in policy.

Renault is reorganizing

Renault shares fell 3.30% to 30.62 euros after the automaker announced that it intended to launch its electric cars on the stock market “at the earliest” at the end of 2023 and share its activities in thermal and hybrid engines. with the Chinese group Geely. Renault is aiming for an operating margin of more than 8% at group level in 2025 and more than 10% in 2030. On Monday the title had gained 3.77% before these announcements.

Carrefour plans more savings

The distributor has unveiled its strategic plan to adapt to the economic context thanks to which it intends to achieve “4 billion euros in cost savings by 2026”.

Carrefour (-1.75% to 16.27 euros) and Publicis (+ 2.47% to 60.50 euros) also announced on Tuesday their intention to create a joint venture to join forces in advertising on the sites. of e-commerce in Europe and Latin America.

Wanted semiconductors

The values ​​of the semiconductor sector were sought Tuesday, in Europe as in the United States where press information benefited Nvidia.

STMicroelectronics gained 4.39% to 33.51 euros and Soitec 4.78% to 137 euros. Shares of Dassault Systèmes (+3.11% to 34.17 euros) and Capgemini (+3.48% to 166.40 euros) also benefited.

© 2022 AFP

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