(News Bulletin 247) – The Paris Stock Exchange gained a little ground this Tuesday while the PMI figures in the euro zone were good. Investors also decipher several company publications.

The CAC 40 is gaining ground and remains on good momentum. The flagship index of the Paris market rose 0.4% at mid-session this Tuesday after having gained 0.2% the day before.

The market integrates the latest economic statistics, notably the PMI indices which measure private sector activity. In the euro zone for the month of April, the composite index, which brings together industry and services, recovered to 51.4 against 50.3 the previous month and a consensus of 50.7, according to Reuters. The threshold of 50 distinguishes a contraction from an expansion of activity.

“The larger-than-expected increase in the composite PMI in April suggests that the eurozone is emerging from recession, but this will not prevent the European Central Bank (ECB) from cutting interest rates in June,” underlines Capital Economics.

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OVH falls, SAP shines

Above all, investors must dissect the numerous company publications. Kering and Tesla will release their first quarter revenues and results respectively this evening.

This Tuesday, in Europe, a heavyweight on the European stock market had a successful meeting with the market, namely the German professional software giant SAP (+2.7%), author of a “solid start to the year “, according to Stifel. Cloud computing activities saw growth reach 25% in the first quarter.

Conversely, OVH, a cloud specialist, is suffering greatly. The stock plunged 15% while the company lowered its like-for-like growth forecast for its entire financial year ending next August, counting on growth of between 8% and 9% compared to 11% to 13% previously. .

Renault gave up some ground, falling 1.3% while its revenues slightly exceeded expectations in the first quarter, both for the group as a whole and for the automobile division. The strong progression of the stock in recent weeks may lead to profit taking, while the publication is therefore only slightly better than expected.

Interparfums takes 2.7% while Berenberg has initiated its purchase coverage on the stock.

On other markets, the euro is almost stable against the dollar at $1.066. Oil is sluggish. The June contract advanced 0.05% to $87.04 per barrel, while WTI listed in New York rose 0.01% to $81.91 per barrel.