The Paris Stock Exchange is expected to fall sharply on Thursday at the opening, for a session once again busy with business news and with the meeting of the European Central Bank which must end in the middle of the session.
The futures contract for the flagship CAC 40 index fell by 1% around forty minutes before the opening of the session. On Wednesday, it increased by 0.31%, its third consecutive session of increase, to finish at 6,915.07 points.
Corporate results continue to improve in Paris, notably with TotalEnergies, Carrefour, BNP Paribas, Danone, STMicroelectronics.
Corporate publications are numerous throughout Europe and the world, and some have a significant impact on the market, such as the fall of more than 9% on Wall Street of Google’s parent company, Alphabet, which dragged down the entire stock price. American in the red.
This loss, which increased compared to the time of the Paris close, weighs on prices in Europe.
Investors will also have a lot to do with the meeting of the European Central Bank. If a maintenance of rates is anticipated by all market players, a first after ten meetings with increases, the tone of President Christine Lagarde will be scrutinized to determine the state of mind of the institution over the coming months.
“It is already almost certain that the EU economy contracted in the third quarter, and the latest data from October showed no signs of change,” which argues for the change in attitude, estimates Micheal Hewson, analyst at CMC Markets.
In the United States, where economic activity is much more vigorous, the first estimate of growth is expected in the third quarter.
Among the values to follow
TotalEnergies: the oil giant announced Thursday a net profit of $6.7 billion for the third quarter.
BNP Paribas: the banking giant for its part published a slightly lower net profit in the third quarter, led by consumer credit, which is in full restructuring, market activities and to a lesser extent retail banking in France.
Stellantis: the automobile group announced Thursday that it would acquire 20% of the Chinese electric car manufacturer Leapmotor, while European brands are trying to avoid collapse in a very competitive Chinese market by cooperating with local manufacturers.
Danone: the group published on Thursday a turnover down 5.8% to 6.906 billion euros in the third quarter, weighed down by its withdrawal from Russia and the appreciation of the euro.
STMicroelectronics: the Franco-Italian manufacturer of electronic components recorded a turnover of $4.43 billion in the third quarter, in line with its forecasts, and a net profit of $1.09 billion, according to a press release.
Carrefour: sales of the Carrefour distribution arm, driven for several months by strong food inflation, remained stable in the third quarter of 2023 at 23.6 billion euros, due in particular to a slower increase in shelf prices.
Casino: the distributor announced Wednesday evening that it had been placed by the Paris Commercial Court under accelerated safeguard procedure for at least two months. On Thursday, it halved its operating profit forecast.
Sodexo: the collective catering and services group recorded an increase of 14.2% in its net profit in 2022/2023, 794 million euros, exceeding its objectives. The listing of Pluxee, which includes “employee benefits (restaurant vouchers and gift vouchers), should take place “at the beginning of 2024”.
Nexity: the leading French real estate developer, published on Wednesday a stable turnover for the first nine months of 2023, large office projects and residences and coworking offsetting the fall in reservations.
Thales: the technology group has won a $42 million contract for the protection of heritage sites in Al-Ula, a historic city in Saudi Arabia.
Biomrieux, Eramet, Groupe ADP, Atos, Ipsen, Voltalia, Plastic Omnium, Bic, SMCP have also published their results.