The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange rose 0.34% in early trading on Thursday after Nvidia’s results which again exceeded expectations on Wall Street and somewhat disappointing data on economic activity.
The flagship CAC 40 index rose 27.31 points to 8,119.42 points around 9:30 a.m. On Wednesday, it fell 0.61%, penalized by the luxury sector.
Main indicator of the day, private sector activity in France contracted slightly in May, after a “brief return to growth” the previous month, S&P Global and the Hamburg Commercial Bank (HCOB) indicated on Thursday. .
The Flash PMI index fell to 49.1 in May, after 50.5 in April, they detailed in a press release. An index above 50 indicates an expansion of activity, while a figure below this threshold conversely reflects a decline.
The figures for industry were a little better than expectations, but services disappointed.
The same data for Europe are expected during the morning.
On the corporate front, a year after its results which really launched the artificial intelligence frenzy on the stock market, the American semiconductor giant Nvidia again delighted investors on Wednesday after the close of the American markets.
It far exceeded expectations in the first quarter and formulated ambitious forecasts for the future.
On the bond market, the interest rate on the 10-year French bond remained around 3%.
Soitec slowed down
Profits of semiconductor manufacturer Soitec fell 23% during its staggered 2023-2024 financial year, to 178 million euros, the company published on Wednesday. It estimates that its 2024-2025 turnover will remain stable at constant scope and exchange rates but still notes uncertainties due to the “inventory correction” of essential radio frequency parts for smartphones.
The share fell 0.17% to 114.20 euros.
Lagardère negotiates Paris Match
The Lagardère group (+1.17% to 21.60 euros), in the fold of Vincent Bolloré, announced on Wednesday a memorandum of understanding with a view to the sale of its emblematic magazine to the luxury giant LVMH (+0.13 % at 752.90 euros).
“This non-binding memorandum of understanding provides” for a sale of Paris Match on “the basis of an enterprise value” of 120 million euros, subject to “the finalization of negotiations,” Lagardère specified in a press release. .
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