Paris stocks closed 0.09% lower on Wednesday, continuing to trade on weak trends, cooled slightly by Microsoft’s poorly received results in the US.
The CAC 40 star index fell 6.60 points to 7,043.88 points. It had closed the last three sessions slightly up, the last one by 0.26%.
The Paris rating had opened in balance, but quickly started to decline. He even hit 7,000 points before recovering.
“There is no theme that imposes itself on the others”, and it would allow us to start a clear sequence, upwards and downwards, observes Alexandre Baradez, analyst at IG. However, he finds it “healthy” that the market doesn’t continue its mad rally at the beginning of the year, the CAC 40 continues to climb 8.81% since January 1st.
Investors expect the US Federal Reserve to confirm a shift to more accommodative monetary policy, similar to that adopted by the Central Bank of Canada on Wednesday, but should wait for confirmation at next week’s meeting.
In terms of business results, still predominantly in the United States, everything is also “mixed”, with growing turnover but declining profits, elements that the markets have been waiting for for a few months, observes Baradez.
Microsoft sent a chill to American markets with its underappreciated results, leading to a steep decline in Wall Street indexes at the time of the Paris shutdown, but, again, European stocks held up better. On the other hand, the technological sector suffers, such as Dassault System (-1.79% at 34.11 euros), Capgemini (-0.75% at 171.85 euros), or even Teleperformance (-1.03% at 249.00 euros ).
On the bond market, the yield on the 10-year French government bond remained stable at 2.59%.
Alstom and its goals on track
The railway manufacturer has seen an increase in its turnover and its order intake in the third quarter of its staggered financial year 2022/23, which is deemed “positive”, which allows it to confirm its forecasts.
Oddo BHF sees it as a “reassuring publication” and in a note believes that “the performance of the stock since the beginning of the year suggests that today’s good publication was anticipated”. After a strong rise at the opening of the session, the stock finally fell by 0.97% to 26.45 euros. Since the start of the year, it’s up nearly 16%.
The MFA will temporarily close the state’s takeover bid for EDF
The Autorité des Marchés Financiers (AMF) will close the state’s takeover bid for EDF’s capital on February 3, according to a notice published on Wednesday. The takeover bid will be reopened for 10 days if the Paris Court of Appeal, currently involved in an appeal by small shareholders, validates the MFA’s compliance decision. If the court reverses the decision, the State has undertaken to “return the securities acquired” to former shareholders “who request it”.