PARIS (Reuters) – The main European stock markets, apart from Frankfurt, are in the green on Thursday morning, but with timid gains, after the publication of numerous company results in Europe while awaiting the financial accounts of several American giants.

The trend is generally cautious after the American sanctions against two Russian oil companies which caused crude prices to rise by more than 3%, while a possible control of software exports by Washington in response to the restrictions decided by Beijing on rare earths rekindles geopolitical fears.

In Paris, the CAC 40 rose 0.43% to 8,242.47 points around 07:40 GMT. In London, the FTSE 100 rose by 0.25%, while in Frankfurt, the Dax fell by 0.16%, weighed down mainly by SAP and the utilities sector.

The EuroStoxx 50 index increased by 0.28% and the FTSEurofirst 300 by 0.13%. The Stoxx 600 gained 0.18%, mainly driven by the energy sector (+2.33%). TotalEnergies, BP, Shell and Equinor take from 1.75% to 3.70%.

Futures contracts on Wall Street predict a drop of 0.13% for the Dow Jones, but an increase of 0.11% for the Standard & Poor’s 500 and an increase of 0.20% for the Nasdaq the day after a down session marked by a fall of almost 10% in Netflix shares against a backdrop of forecasts considered disappointing.

Tesla, another American behemoth, fell by almost 4% in pre-market trading, the automobile manufacturer having reported a quarterly profit lower than Wall Street’s expectations due in particular to new customs duties and costs linked to research. The market is now awaiting results from Ford, American Airlines and Intel, among others.

Financial publications also dominate in Europe, with in Paris, notably Kering which climbs 7.18% after reporting a less marked drop than expected in its turnover in the third quarter. The luxury sector in Europe advances by 0.31%.

Carrefour fell by 4.45%, as sales growth in the third quarter was considered disappointing.

STMicroelectronics fell 4.11% after publishing a forecast for its fourth quarter turnover lower than market expectations.

Dassault Systèmes, down 14.10%, is at the bottom of the Stoxx 600 after having lowered its annual turnover forecast.

Elsewhere in Europe, Volvo Car soared 25% after reporting a slight increase in its quarterly operating profit despite pressure on prices and customs duties.

Nokia jumped 10%, the Finnish telecom equipment manufacturer having reported a profit well above expectations for the third quarter.

In Germany, SAP fell by 2.3% after its quarterly results, while Beiersdorf advanced by almost 1%, despite a lowering of its forecasts for this year.

In Switzerland, the prospects of Lonza (+4%), Galderma (+7.78%) are welcomed, while Roche (-2.35%) disappointed with its sales over the first nine months.

DSV, up 5.26%, was one of the best performances in the Stoxx 600. The Danish freight company published a better-than-expected quarterly profit.

(Written by Claude Chendjou, edited by Blandine Hénault)

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