The Paris Stock Exchange moved with little change on Thursday (+0.26%), investors particularly await the presentation of the budgetary plan in the United Kingdom, in the absence of peak economic data.
The CAC 40 star index rose 17.06 points to 6,624.28 points at around 9:15 am. The day before, it had fallen by 0.52%, ending a streak of four consecutive hikes.
“In just a few weeks, the market landscape has changed dramatically. The markets move as if inflation has disappeared,” said Christopher Dembik, director of macroeconomic research, with powerful effects on the bond market.
“What is certain is that risk appetite appears to be back. Many managers are overly defensive about the market. As the year-end approaches, they may be tempted to take on more risk, which could maintain the small uptrend of shares,” he anticipates.
At the end of the corporate results period, investors will have to wait until December for the next big events on the calendar, with the meeting of the European Central Bank, then the US Central Bank.
On Thursday, investors’ eyes will be focused on London and the Finance Minister’s presentation of the budget. The precedent, poorly prepared by Prime Minister Liz Truss, caused much market turmoil, prompting the resignation of Ms Truss, who has since been replaced by Rishi Sunak.
In the Eurozone, confirmation of the data on inflation for October, which had been estimated at 10.7%, is awaited. In the United States, the main macroeconomic event is the release of weekly data on jobless claims.
Bouygues keeps his goals
The Bouygues group reported a 33% drop in net profit in the nine months, due in particular to capital gains on the sale of Bouygues Telecom data centers and the sale of Alstom shares last year. Its revenues increased by 8% in the same period and the group confirmed its objectives for 2022, in this case “a further increase in turnover and current operating profit”.
The stock fell 4.20% to €29.19, the biggest drop in the top CAC 40 index.
La Française des Jeux is cautious
La Française des Jeux (FDJ) announced on Thursday a cautious average annual growth forecast for its turnover from 2022 to 2025 “at the top of a range between 4% and 5%” (against 8% this year ), and that it had concluded an agreement to acquire the ZEturf group, at the start of a day of presentation of its strategy to investors. The share rose by 1.02% to 35.76 euros.
OL Group finalizes the sale
After two postponements, OL Groupe, the holding company that oversees Olympique Lyonnais football club, will be sold to American billionaire John Textor on Thursday, marking a historic turning point for the club. The action was suspended, at a price of €2.79, at the request of the club pending a press release.