(AOF) – With the exception of the FTSE 100, European markets closed in the green, the day after the ECB’s announcements. The monetary institution lowered its key rates on Thursday for the third time since the start of 2024. Boosted by Chinese statistical data, the luxury sector has moved forward again. GDP in China grew by 4.6% year-on-year in the third quarter. In addition, retail sales in this country accelerated year-on-year in September to 3.2% after an increase of 2.1% in August. The CAC 40 gained 0.39% to 7,613 points and the Eurostoxx 50 rose 0.71% to 4,982 points.
Volvo (+3.51% to 274.30 Swedish crowns) progressed on the Stockholm Stock Exchange despite disappointing quarterly results. The Swedish truck manufacturer posted an adjusted operating profit of 14.1 billion crowns in the third quarter against 15.6 billion expected, for net sales down 12% to 117 billion crowns. Adjusted operating margin fell from 14.4% to 12% year-on-year and earnings per share from 6.93 to 4.93 crowns.
China appears to be the Achilles heel of French company publications in the third quarter. In decline at the opening, the action of the Franco-Italian multinational EssilorLuxottica gained 0.46% to 216.90 euros despite a turnover lower than expectations. Its performance was penalized by a slowdown in its activities in China. During the conference call with analysts, EssilorLuxottica reassured investors by announcing an acceleration of growth in the fourth quarter, reports UBS.
Virbac (-12.64% to 345.50 euros) posted the biggest drop in the SBF 120 and the SRD market after the publication of lower than expected revenues in the third quarter. The animal health specialist announces an increase in turnover, but lower than expectations at 339.2 million euros, up 7.7% at actual exchange rates and 9.9% at exchange rates. constant. The FactSet consensus stands at 354 million euros.
Macroeconomic figures
In September 2024, the total number of business creations, all types of businesses combined, fell for the fourth consecutive month and more markedly than in August (-5% after -1% in August), in corrected data seasonal variations and business day effects. This new decline comes from both that of traditional business creations (-4.1% after -2%) and that of registrations of micro-entrepreneurs (-5.5% after -0.5%).
1.428 million building permits were registered in September at an annual rate in the United States. The consensus was targeting 1.45 million, after 1.47 million in August. In addition, 1.354 million housing starts were recorded last month at an annual rate. Consensus aimed for 1.35 million, after 1.361 million in August
Around 5:40 p.m., the euro gained 0.22% to 1.0855 dollars.
