The world stock markets are once again timid this Wednesday, April 26 due to concerns about growth and under a rain of corporate results on both sides of the Atlantic.
European stock markets opened lower: around 07:40 GMT, the Paris Stock Exchange, where nearly a quarter of companies have published their results since Tuesday’s close, fell by 0.84%, Frankfurt by 0.74%, London by 0.36%, Milan by 0.94%.
After rising sharply following the banking shock in March, until reaching record highs on the French index, European equities have generally been treading water since mid-April.
For John Plassard, investment specialist at Mirabaud, “the rebound in European equities since the beginning of the year is pushing more and more major American institutions to take profits”.
In Asia, the Tokyo Stock Exchange ended down 0.71%, following the worst session for a month on Wall Street (S&P 500 -1.58%, Nasdaq -1.98%) after the plunge of the American bank First Republic (-49%), rekindling concerns in the financial sector.
The results of the American technology companies, after the close of the markets, however reassured the investors: both Microsoft and Alphabet saw their share price progress in the electronic exchanges after the session following their publication.
The best atmosphere on technology was seen on the Hong Kong index, very exposed to this sector, which rose by 0.70% in the last exchanges. Shanghai fell 0.02%.
On the bond market, the interest rates of States in Europe extend their sharp declines on Tuesday, a sign of investors’ risk aversion.
Kering less brilliant in luxury
The luxury group Kering regained some breath in the first quarter after a difficult end to the year 2022, in particular for its flagship brand Gucci, but its sales only increased by 2%, a performance much lower than that of its competitors. in the area. The action fell 2% in Paris.
Teleperformance shares fell more than 14% on the Paris Stock Exchange after the company lowered its revenue growth target for 2023, between 8 and 10% against 10% initially planned. “Turbulence persists,” say Deutsche Bank analysts. Over the year, the company lost more than 20% of its value, the worst performance of the CAC 40.
In Paris again, Dassault Systèmes fell by 7.18% after its results which showed a drop in its margin.
The Spanish renewable energy giant Iberdrola (+0.68%) posted a net profit up 40% in the first quarter, thanks to solid results in Spain, the United Kingdom and the United States, where the group wishes to accelerate its establishment.
Thursday, TotalEnergies and Repsol will give their performance for the first quarter.
End of the Covid effect on health
In the field of health, the British GSK (+0.12%) saw its net profit drop by 17% while the turnover of the French Eurofins (+1.32%) fell by 10.5%. and that of the Swiss Roche (-1.74%) by 7%, the three companies highlighting the decline in their products in connection with the Covid-19 pandemic compared to the first quarter of 2022.
Oil recovered slightly after the sharp decline the day before, caused by fears about economic activity. The barrel of Brent from the North Sea rose by 0.52% to 81.19 dollars and that of American WTI by 0.70% to 77.61 dollars around 07:25 GMT.
The price of natural gas in Europe was still below 40 euros per megawatt hour (39.00 euros, -2.09%). The euro returned to 1.1020 dollars (+0.43%), the pound close to 1.2460 dollars (+0.38%). Bitcoin rose 1.31% to $28,350.
(With AFP)
2023-04-26 13:10:36
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