(News Bulletin 247) – The Parisian index closed slightly higher, at the end of a session marked by numerous company results. The CAC 40 gained 0.08% to 7,503.28 points on Thursday evening.
First positive close of the week on the Paris Stock Exchange. The CAC 40 ended this day rich in company publications, up slightly by 0.08% to 7,503.28 points.
The flagship Parisian index which gained another 0.8% at midday; saw its gains clearly crumble as the afternoon progressed.
On Wall Street, the indices move in scattered order. At the close of the European markets, the Dow Jones lost 0.4% while the Nasdaq (+0.5%) was driven by Tesla which jumped 18.6%, after a publication appreciated by the markets. The electric car maker delivered a better-than-expected gross margin and profit in the third quarter. Elon Musk has also announced that he expects automobile sales to increase by 20% to 30% next year.
An avalanche of publications
In addition to macroeconomics, investors had to dissect a torrent of results. At the top of the CAC 40, Renault finished up 4.7% after delivering reassuring activity in the third quarter during which both its overall turnover and that of the automobile sector increased, excluding currency effects. Stellantis, which will announce its turnover next week, gained 1.7%.
Hermès limits its gains to 1.1% after once again delivering double-digit growth in the third quarter, almost ignoring the general slowdown in luxury.
Danone also reported robust third-quarter revenue, closing up 2.8%.
Conversely, Edenred lost 14.7%. Growth was disappointing and the group announced a regulatory risk, namely a capping of its commissions in Italy.
Michelin stumbled 8.2% after lowering its sector operating profit forecast for 2024 following a deterioration in volumes in the third quarter.
Excluding the CAC 40, Bic jumped 13.6% after raising its margin forecasts for the current financial year.
OVHcloud recovered 11.2% supported both by results above expectations but also by the announcement of a public share buyback offer.
On other markets, the euro gained 0.2% against the dollar to 1.08 dollars. Oil is falling. The December contract on North Sea Brent fell 0.7% to $74.44 per barrel while that of November on WTI listed in New York lost 0.8% to $70.23 per barrel.
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