(BFM Bourse) – Mid-session onwards CCA 40 loses ground, the market yields to prudence before some important appointments.
the CCA 40 struggling to find relays to chain. After gaining 0.5% on Monday, the flagship index of the Paris Stock Exchange lost ground and fell 0.16% at the mid-session to 7,021.03 points.
Caution is warranted as several large-scale indicators (US GDP, US PCE) will be released in the coming days and the pace of business releases will accelerate in the second half of the week. Note however that Microsoft, which just announced a new multi-billion dollar investment in OpenAi, the creator of ChatGPT, will release its quarterly results after Wall Street shuts down.
PMI at most seven months in the euro area
In Europe, attention is currently focused on the first estimate of the PMI indices, which measure the activity of private services. The composite index stands at 50.2 for the area in January EURwhich marks both a return above the 50 threshold, the limit between expansion and contraction of activity, and a seven-month high.
“The possibilities to see the area EUR Escape from a recession appears to be increasingly clear, with the latest Flash PMI data highlighting a stabilization of the region’s economy in January,” said Chris Williamson, chief economist at S&P Global Market Intelligence.
“Taken together, these polls are likely to encourage the European Central Bank to continue meaningful rate hikes in the coming months,” said Andrew Kenningham of Capital Economics.
Interparfums drops by 1.6%. The group unveiled record annual revenue for 2022 but showed caution for the exercise just started.
Carmat returns 4.2% after having it unveiled its first financial goals and announced that it aims to break even in 2027.
In other markets, theEUR it fell 0.15% against the dollar to $1.0856. Oil prices are changing little. The contract up Brent North Sea oil for March delivery fell 0.1% to $88.09 a barrel WTI extension listed in New York with the same advanced maturity of 0.01% at 81.63 dollars a barrel.
Julien Marion – ©2023 BFM Exchange