(News Bulletin 247) – European stock markets tend to give ground overall (+0.1% in London, but -0.7% in Frankfurt and -0.4% in Paris) on Tuesday, pending the reopening of Wall Street after a long weekend to commemorate the abolition of slavery.
Caution seems to be prevailing as investors wonder about the global economic outlook and its impact on valuations that have become high again, given the performance of the major equity indices since the start of the year.
“The risk for the financial markets in the coming months is to be confronted with weak economic growth, or even a risk of recession in the United States, all in a monetary context which can still tighten”, warned Monday IG France.
‘The annual projections of companies, rather well oriented during the publications of the first quarter, could require a downward revision in certain sectors, and therefore favor the consolidation of stock market indices’, he continued.
In the news of values, Lanxess unscrews by nearly 18% in Frankfurt, heavily sanctioned for a profit warning issued by the specialty chemicals group for its second quarter and the whole of 2023.
Conversely, Neoen posted one of the best performances in Paris (+4%), hailed for winning a major battery storage contract in Australia, which led the renewable energy group to raise its goals for 2025.
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