Thursday Stock Market Session: Main Elements, Cac 40 Publications, GDP Estimates, and Company Updates.

The morphology of this Thursday session promises to be similar to that of yesterday, at least in its main elements. Many publications from companies within the Cac 40, the fear of a contagion effect from disruptions in the American banking sector and the solidity of Gafam are the main ingredients, with in the background the first estimate of the GDP of the United States. United in the first quarter.

In New York, the S&P 500 fell 0.4% on Wednesday, while the Nasdaq Composite appreciated by 0.5%, boosted by the increase of more than 7% in Microsoftthanks to strong quarterly. Meta Platformsthe parent company of Facebook, reported post-closing revenue growth, the first in nearly a year, and said it expects sales to exceed expectations for the current quarter. In after-market transactions, the title jumped nearly 12%. Amazon will be in the running this evening at the end of the American session.

US GDP should be supported by consumption

On the other hand, First Republic Bank continued its fall by giving up almost 30%, raising questions about its future while the Californian bank has already benefited from a boost of 30 billion dollars in the form of deposits from major American financial players. The uncertainties surrounding US regional banks raise questions about the outlook for the economy, as does the stronger than expected contraction in durable goods orders last month in the United States in terms of business investment, and the tightening of credit terms.

The market will therefore follow, this afternoon, the first estimate of GDP growth in the United States in the first quarter. The consensus formed by Bloomberg expects a slowdown to 1.9% at an annualized rate, compared to an increase of 2.6% over the last three months of 2022. The consumption component should, for its part, have increased by 4 %, after rising 1% three months earlier.

« Strong labor market and resilient early quarter wage growth should provide a strong personal consumption component predicts Michael Hewson, chief market analyst at CMC Markets. Also to follow, the traditional weekly jobless claims, expected to rise from 3,000 to 248,000, which would be their third successive increase.

Schneider Electric and STMicroelectronics raise their forecasts

Schneider Electricraised its outlook for 2023, after a strong improvement in its turnover in the first quarter. For 2023, the electrical equipment manufacturer now anticipates organic growth, i.e. at constant scope and exchange rates, of its adjusted operating profit (Ebita) of between 16% and 21%, against an increase of 12% to 16% previously anticipated.

STMicroelectronicsalso marginally raised its revenue forecast for 2023, after posting results that beat its expectations and analysts’ expectations in the first quarter. Over the January-March period, the semiconductor manufacturer’s net profit fell 16.3% sequentially, to 1.04 billion dollars (945 million euros), against 1.25 billion dollars in fourth quarter of 2022. Net income for the first quarter, however, rebounded by 39.8% compared to the corresponding period of 2022.

Sanofi a confirmed its annual objectives in the wake of quarterly results that beat expectations, supported in particular by its star treatment Dupixent. For the current fiscal year, executives continue to expect business net earnings per share to grow at constant currencies in the low single digits, compared with a 17.1% increase in 2022.

TotalEnergies posted net income of $5.6 billion in the first quarter, up 12%. Adjusted gross operating surplus (Ebitda) stood at 14.2 billion, down 19% The oil and renewable energy group confirms its forecast for net investments of between 16 and 18 billion dollars in 2023. It finally announces that it has accepted an offer from Suncor to buy back its oil sands assets.

Liquid airconfirmed its outlook for 2023, after seeing its sales grow at a rate higher than analysts’ forecasts in the first quarter. ” Air Liquide is confident in its ability to further increase its operating margin and achieve growth in recurring net income, at constant exchange rates in 2023, said CEO François Jackow. Over the first three months of the year, the industrial gases specialist’s turnover amounted to 7.17 billion euros, an improvement of 4.2% over one year in published data, and 6.2% % like-for-like.

Pernod Ricardforecasts “very strong growth” in sales in the fourth quarter of its staggered 2022-2023 fiscal year, although its sales have declined in the previous three months. The spirits group is also aiming for an organic increase in its current operating profit of 10% and an improvement in its operating margin for the current financial year.

Michelinconfirmed its financial objectives for the year in progress after recording a 7.4% increase in turnover to 6.96 billion euros over one year in the first quarter, despite the decline in volumes in its main markets.

Unibail-Rodamco-Westfieldconfirmed its profitability target for 2023, after recording growth in its activity in the first quarter. THE ” proportional turnover » amounted to 909.3 million euros, up 1.4% over one year. Like-for-like, it grew by 8.5%. Gross rental income for the shopping center division increased by 1%, to 628.9 million euros (+7.8% like-for-like).