(News Bulletin 247) – The CAC 40 ended up very slightly on Thursday. Weighed down by negative press reports in China, Apple shares continued to decline.

The Paris Bourse puts an end to a bad series. The CAC 40 ended up slightly up 0.03% at 7196.10 points, ending a series of consecutive declines.

The market hesitated, and the lack of support from Wall Street weighed on the session. The Nasdaq Composite lost another 1.1% driven by the fall of Apple. The smartphone manufacturer is still dropping 2.9% after having already fallen 3.6% the day before. The group has suffered since Wednesday from information from the wall street journal reporting that China has banned employees of government agencies from using or bringing iPhones to work. China accounts for just under 20% of Apple’s revenue.

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Slight bond easing

On the other hand, the slight easing in bond yields provides slight support for European stock markets. The 10-year German Bund rate stood at 2.622% against 2.657% on Wednesday.

The decline in the euro, which fell 0.2% against the dollar to $1.709, falling to lows since March, may also help eurozone markets.

Regarding the main indicators, weekly jobless claims in the United States stood at 216,000 units, less than the 230,000 expected by economists polled by the Wall Street Journal.

In the euro zone, the gross domestic product (GDP) was revised downwards in the second quarter, to 0.1% against 0.3% previously.

In China, the contraction of exports in August for the fourth consecutive month, is part of a long series of bad economic indicators for the second world economy. “We think the economy will enter a recession in the second half,” asserts Capital Economics.

Orange and Airbus stand out

On the stock side, tech suffered in the wake of the Nasdaq. On the CAC 40, the largest declines were recorded by STMicroelectronics (-4.1%) and Worldline (-3.5%).

ArcelorMittal lost 2.6%, penalized by an agreement between the European Union and the United States on new customs duties targeting steel imports from China, according to the Bloomberg agency.

Conversely, Orange performed well (+2.1%), while UBS resumed its buy recommendation while raising its target to 12.7 euros against 12.1 euros previously. She thinks the stock offers interesting momentum with an attractive price.

Ditto for Airbus which climbed 1.9% thanks to good figures on its deliveries in August.

Excluding the flagship index, Scor’s new “Forward 2026” strategic plan received a favorable reception. The title of the reinsurer rose by 4.7% on Thursday.

Valneva fell 0.5%. Pfizer and the French laboratory communicated this Thursday positive data in children and adolescents for their vaccine candidate against Lyme disease. Chargers lost 10.35% after experiencing a plunge in sales and profitability in the first half.

As for oil prices, the latter are taking a short break from their November 2022 highs. The November North Sea Brent contract fell 0.1% to $90.47 a barrel, while the October on the WTI listed in New York lost 0.05% to 87.49 dollars a barrel.