The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange is moving around balance on Monday, investors putting aside geopolitical tensions to focus on the results season, awaiting several economic indicators during the week.
The flagship CAC 40 index was stable (-0.02%) at 8,019.19 points around 9:50 a.m. Friday, it finished stable (-0.85 points, or -0.01%) at 8,022.41 points. Last week, the Parisian rating gained 0.14%, after two weeks of decline.
After a weekend considered “calm on the geopolitical scene”, the stock market is more interested in corporate results and the macroeconomy, estimates Ipek Ozkardeskaya, analyst at Swissquote Bank.
On Tuesday, a series of activity indicators (PMI) in the euro zone and the United States is expected, before the publication on Thursday of the first estimate of American growth for the first quarter and on Friday the PCE price index for March in UNITED STATES.
Several indicators showing the resilience of the American economy have dashed the market’s hopes of seeing the American central bank make a first cut in its key rates from June.
While three declines were expected in 2024, the market is now only counting on one decline in September. The Fed will hold its next monetary policy meeting from April 30 to May 1.
This week will also be marked by the publication of four of the seven largest companies in the technology sector, all American: Microsoft, Google, Meta and Tesla.
The first quarter results of the “magnificent seven” (with Nvidia, Amazon and Apple) are “expected to increase by 38%”, according to Ipek Ozkardeskaya.
In Paris, among the results expected during the week, those of Hermès, TotalEnergies, Schneider Electric, Sanofi, BNP Paribas, Kering and even Pernod Ricard and Renault are on the agenda.
TotalEnergies remains on the LNG path
Extension of gas extraction rights, liquefaction plant and solar park to power it: TotalEnergies (+0.27% to 67.46 euros) announced on Monday additional investments in the Sultanate of Oman to produce LNG, with a contract worth more than 500 million euros for Technip Energies (+0.79% to 22.84 euros).
Alstom praised
The railway manufacturer Alstom jumped 4.21% to 15.74 euros after announcing the sale of its conventional signaling activities in North America to the German Knorr-Bremse AG for 630 million euros, an operation which is part of as part of its debt reduction plan.
Euronext CAC40