The Paris Stock Exchange was down 0.86% in early trading on Thursday, penalized by company results and the rise in interest rates before the meeting of the European Central Bank.
The flagship CAC 40 index fell by 59.25 points to 6,855.82 points around 10:00 a.m. It rebounded over the first three sessions of the week, including an increase of 0.31% on Wednesday.
Among the many results on the CAC 40, few find favor in the eyes of investors, with only Carrefour and Danone at the head of the gondola.
The majority of publications are warmly received, which is also the case in Europe or the United States, with the fall of more than 9% of Alphabet, the parent company of Google, on Wednesday. This decline, accentuated after the closing of the Paris Stock Exchange, also put pressure on all European markets.
In addition to corporate results, investors are holding their breath before the meeting of the European Central Bank and the publication of growth for the third American quarter in the second part of the session.
Another penalizing factor is that interest rates on the bond market are rising and approaching their highest level of the year, recorded on Monday at the start of the session before a sharp drop. The 10-year rate of the French State was hovering around 3.52% around 10:10 a.m.
Investors fear that the sharp rise in interest rates will end up weighing on the financing of their growth, recalls Thomas Dhainaut, equity manager at Franaise AM.
Carrefour and Danone are stocking up
Among the well-received results of the CAC 40, Carrefour shares gained 4.58% to 16.33 euros after results above expectations, and Danone, which raised its financial objectives, advanced 1.73% to 55.82 euros.
BNP Paribas profits fall
BNP Paribas fell 4.54% to 53.60 euros after its solid results but with contrasting trends at the business level according to RBC analysts.
The first of the CAC 40 banks to publish its results, it brings down Socit Generale (-1.72% to 20.55 euros) and Crdit Agricole -0.92% to 11.16 euros.
Stellantis invests in China
Stellantis fell 1.21% to 17.57 euros, after announcing that it had taken a 20% stake in a Chinese company. The action held up better in the face of poorly received results from German manufacturers, a trend which weighs on Renault’s price (-2.06% to 31.88 euros).
Furthermore, the equipment manufacturer Plastic Omnium fell 15.42% to 11.08 euros after lowering its targets. Valeo also lost 2.89% 11.93 euros.
Clear declines
On the broader SBF 120 index, Bureau Veritas (-7.37% to 20.96 euros), Ipsen (-4.92% to 113.70 euros), Biomrieux (-1.67% to 86.22 euros) lost ground after their results .
Clariane extended its plunge, losing 10.36% 3.77 euros, a loss of more than 25% over the week.
On the CAC 40, Publicis (-2.28% 71.10 euros) also suffered from the lowered prospects of its British competitor WPP.
STMicroelectronics (-1.57% to 36.52 euros), TotalEnergies (-0.29% to 62.02 euros), Schneider Electric (-1.43% to 137.98 euros) fell after their publications.
On the side of increases
Far from the flagship index, Atos (+7.57% 5.60 euros), Nexity (+9.60% 12.45 euros), Sodexo (+5.91% 103.50 euros), bic (+1.86% 57.60 euros), SMCP (+5.37% 3.14 euros), Eutelsat (+2.79% 4.43 euros) were on the other hand praised for their results.
After its historic fall of almost 60% on Wednesday, Worldline rebounded by only 4.08% to 9.80 euros.