The Cac 40 did not move much until the opening of Wall Street, where Microsoft and Alphabet jumped, Market news

The Paris Bourse closes this Wednesday session on the rise, mainly helped by the rebound on Wall Street. Despite the Russian gas crisis, which will precipitate the euro zone into recession according to JPMorgan, the Bedroom 40 rose 0.75% to 6,257.97 points, in a feeble business volume of 2.8 billion euros, before the highly anticipated monetary policy decision of the Federal Reserve. At 8 p.m., the US central bank will announce another interest rate hike (by 75 basis points, according to a broad consensus, to 2.25-2.5%), a verdict that will be followed half an hour later by Jerome Powell’s press conference.

In New York, while the Dow Jones rose by just 0.4%, the technology stock index gained more than 2%, driven by Microsoft (+4.5%) and Alphabet (+5.8%), which published accounts for the second quarter which reassure the Stock Exchange. Meta Platforms, Facebook’s parent company, will release its accounts after the close.

Worldline jumped 14% on the Cac 40

At the Paris Stock Exchange, numerous company publications also animated the session.

Worldline jumped 14%, taking the lead among the best performers in the Cac 40. The electronic payments specialist confirmed its annual targets after seeing its results improve significantly in the first half.

LVMH gained 1.7%. The world number one in luxury reported a 28% annual increase in sales in the first half, citing the sharp increase observed in Europe and the United States since the beginning of the year. China, however, suffered from the Covid 19 lockdowns. While growth in the key Fashion & Leather Goods division exceeded forecasts, it fell short of some investors’ expectations, RBC’s Pirai Dadhania said in a note cited by Bloomberg. LVMH has accustomed the market to exceeding forecasts by a comfortable margin.

Michelin fell 6%. The tire maker published a lower net profit in the first half and lowered its outlook for its main markets due to the consequences of the war in Ukraine and health restrictions in China.

Eurofins Scientific dropped 7%. The world leader in bio-analyticals raised its targets for 2022, but the 4.3% increase in sales in the second quarter disappointed analysts. Those of JP Morgan point out that the annual growth target of 6.5% risks being “hard to reach” in the current environment.

Apart from the Cac 40, Elior soared more than 30%. The collective catering group confirmed its annual objectives after recording organic growth in its turnover of 20.3% to 3.42 billion euros over the first nine months of its 2022-2023 financial year.

Atos soared by more than 16%. The IT and cybersecurity group published first-half results reflecting a “Improving commercial momentum” and confirmed its annual objectives. He also specifies that the financing of his transformation plan has been “successfully secured”.


Leave a Comment