Published January 25, 2023, 2:32 pm
The Paris Stock Exchange stopped after three sessions of increases in a row, hampered above all by the warning of Microsoft, the first of the Gafam to reveal its quarterly accounts. The nice surprise given by the improvement in the business climate index in Germany to 90.2 points in January (+1.6 points) certainly confirms that the leading European economy should avoid recession, but strengthens the ECB’s position in favor of a restrictive policy.
The new progression of the Ifo index” confirms that the improvement in business sentiment that began in late 2022 has continued this year, but the decline in the current conditions component serves as a reminder that the economy is not out of the woods yet. We think that, at best, it will stagnate in the first half summarizes Franziska Palmas, Senior Economist Europe at Capital Economics. At the same time, the German economy is expected to grow by 0.2% this year, compared with an estimated contraction of 0.4% in the autumn, according to the report released this morning by the government. ” The situation at the beginning of the year is more favorable than estimated in the autumn projections, however the report indicates that uncertainties remain about the German economy “, he specifies.
Around 2.30pm, the Bedroom 40 -0.45% to 7,018.76 points on a turnover of 950 million euros. The contracts future on American indices yields between 0.6% and 1.3%.
Microsoft warns about Azure
Microsoft fell 2.6% before market. The world’s leading software company expects lower-than-expected sales for the current quarter, mainly due to lower growth expected in its Azure divisionspecialized in the “cloud”, and in PCs. boeing also down 2.6%. The aircraft maker posted a loss of $663 million in the fourth quarter, impacted by supply chain issues, but rebounding aircraft sales and orders buoyed revenue. IBM And You are here they must publish their results after the US shutdown.
The Bank of Canada’s monetary decision will follow this afternoon. It is expected to raise its key policy rate by 25 basis points to 4.5%, after tightening by half a percentage point in December. This decision precedes those of the US Federal Reserve and the European Central Bank by a week.
Alstom withdraws despite its predictions
Altom give up 1% after earning up to 3%. The railway equipment manufacturer has however confirmed its forecast for the fiscal year ending in March 2023 and announced an 8% increase in reported revenues in the third quarter. In the period October-December it achieved a turnover of 4.2 billion euros, against the 3.92 billion euros of the previous year, with an increase of 8%.
BNP Paribas loses 0.6%. German authorities raided the bank’s offices in Frankfurt in connection with a multibillion-dollar tax fraud known as “Cum-Ex,” reports Handelsblatt.
Vallourec it grew by 1.5% after the announcement of a three-year contract with the Brazilian Petrobras for the supply of OCTG pipes.