(News Bulletin 247) – The Parisian index ended this Thursday’s session slightly in the green. Nvidia is struggling to stabilize on Wall Street and is currently operating in the red.
The CAC 40 managed to raise its head a little above water this Thursday. The Parisian index ended up 0.21% at 7,213.32 points.
The Paris Stock Exchange did not benefit from any real catalyst other than the good performance of Wall Street, where the S&P 500 advanced by 0.3% shortly before the European close. The largest American index is progressing despite the decline of Nvidia, its largest capitalization.
The stock of the graphics processor manufacturer opened sharply higher before turning downward and losing 1.2% around 5:30 p.m.
On Wednesday evening, the world’s largest capitalization and big winner from the rise of generative artificial intelligence published good results. But its fourth-quarter revenue guidance only modestly beat expectations.
“Forecasts were only slightly above consensus and below the expectations of some investors,” summarizes Morgan Stanley.
The American bank, however, renewed its opinion to “overweight” on the stock. Bank of America, for its part, confirmed its purchase advice, recalling that Nvidia remains “an undisputed leader in AI infrastructures”, and “the fastest growing mega-capitalization” with a still attractive valuation.
>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio
Soitec climbs
Investors also have geopolitical risk and the conflict between Ukraine and Russia in the back of their minds.
kyiv accused Russia on Thursday of having, for the first time, fired an intercontinental missile on its territory, using this vector of its nuclear deterrent without an atomic warhead, AFP reported. Moscow has not confirmed.
As for French stocks, Schneider Electric (+1.4%) and Airbus (+1.2%) recorded the largest increases in the CAC 40 while Kering finished bottom (-3.02%).
Excluding CAC 40, Soitec gained 7.5%. The producer of semiconductor materials jumped, after confirming its objectives for the 2024-2025 financial year, which greatly reassured the market.
On other markets, the euro fell 0.6% against the dollar to 1.0481 dollars. Oil is rising a little. The January contract on North Sea Brent advanced 1.6% to $73.94 per barrel while the February contract on WTI listed in New York gained 1.67% to $70.02 per barrel.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
