(News Bulletin 247) – The CAC 40 more than doubled its gains observed at mid-session during a day under the sign of corporate publications. It appears up 0.8% to end its race not far from 7400 points on Thursday evening.

Up slightly at mid-session, the Paris Stock Exchange picked up the pace in the afternoon despite a slightly more dispersed trend on Wall Street, with the disappointments Tesla and Netflix. The CAC 40 thus progressed by 0.79% to return to contact with 7400 points at 7384.91 points this Thursday evening.

The Paris market found support from Publicis, whose results, which came out better than expected, were hailed by the markets. With this solid publication unveiled by the group led by Arthur Sadoun, the results season in Paris is therefore starting under the best auspices. Still within the CAC 40, the publication of Thales scheduled for Friday will also be closely watched. As in Paris, corporate results were also scrutinized on Wall Street, including those of Tesla and Netflix, which clearly disappointed.

The electric-vehicle automaker certainly beat expectations in the second quarter, but comments from management suggesting further price cuts gripped the market, with the stock dropping 7%. Netflix, for its part, dropped 9% because its turnover turned out to be lower than expected, despite a jump in its subscribers in the second quarter.

The only statistics of the day in the United States generally came out lower than expected, including sales of existing homes which fell more than expected, by 3.3% in June, compared to May and by 18.9% over one year. The Conference Board’s leading indicator contracted 0.7% in June, against a 0.6% decline expected by the market.

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Publicis, the poster of the day

In France, Publicis ends up 1.9% thanks to impressive growth in the second quarter, representing more than double that of its competitor Omnicom, published the day before.

But it is Axa (+2.7%) which dominates the ranking this evening, followed by Sanofi (+2.4%).

On the other hand, Getlink’s half-year results left the market unmoved (-1.1%).

The action of the manufacturer of hydrogen cars Hopium is suspended pending a press release. The group’s financial situation is extremely strained, with negative equity as well as cash (-1.3 million euros at the end of 2022). The group had to conclude dilutive financing and had started looking for an industrial partnership.

On the other markets, the euro lost 0.11% against the dollar at 1.1134 dollars after the day’s statistics published in the United States. Oil prices are turning down. The North Sea Brent crude contract for September delivery fell 0.6% to $78.97 a barrel. That of the same maturity on the WTI listed in New York also lost 0.6% to 74.87 dollars a barrel.