The Paris Stock Exchange waits

The Paris Stock Exchange is stable Thursday in the first exchanges, cooled by disappointing first results in the United States while the European season is fast approaching.

The flagship CAC 40 index fell 0.36 points to 7,326.58 points at around 9:30 a.m., after opening slightly lower. Tuesday and Wednesday, he had progressed slightly.

There aren’t many indicators or statements from central bankers ahead of the series of central bank meetings in the US, Eurozone and Japan next week.

In France, the business climate remained stable in July, at its long-term average for the third consecutive month, INSEE announced on Thursday.

But “investors should debate the results of Netflix and Tesla more than economic indicators”, estimates the economist Christian Parisot for the broker Aurel BCG, wondering about the arrival of “headwinds” on the technology sector.

After a first round of well-received results, especially for American banks, investors experienced two disappointments on Wednesday, with the sharp drop in Tesla’s margin, and turnover slightly below expectations for Netflix, despite a sharp increase in the number of subscribers.

Investors fear the impact of the economic slowdown on turnover and especially corporate margins.

On the bond market, the interest rate of the French 10-year loan was up slightly, to 2.97%, against 2.96% at the close the day before.

Publicis on display

The communications giant Publicis, the first result of the season on the CAC 40 shone (+3.41% to 73.88 euros) after announcing an increase in its financial outlook for the year.

Over the first six months of the year, Publicis posted a net profit of 623 million euros, up 16%.

Tech and luxury under pressure

Companies in the technology sector in Paris suffered: STMicroelectronics lost 1.93% to 46.03 euros, Dassault Systèmes 1.73% to 40.64 euros and Teleperformance 1.15% to 155.05 euros.

The luxury sector remained in difficulty, as since the beginning of the week: Hermès fell by 0.91% to 1,865.00 euros, LVMH by 0.81% to 843.30 euros. Only Kering remained in the green (+0.77% to 534.40 euros). The group’s stock jumped 7% on Wednesday after a change at the head of its flagship brand Gucci.

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