The Paris Bourse in the red
Posted by adminAfter a pause Wednesday after six consecutive sessions of gains, the CAC 40 continues on the path of decline on Thursday. The benchmark index of the Paris Stock Exchange lost 0.40% to 3617.37 points at the opening. In London, the Footsie loose 0.41% to 5231.52 points. The German Dax lost 0.35% to 6187.78 points.
European investors should follow their Asian colleagues this morning have pushed the indices into the red. The markets, which were finally confirmation of the recovery with good quarterly Alcoa and Intel, have been showered by ads from the Fed on Wednesday.
The Federal Reserve is reviewing because U.S. growth prospects downward and now expects growth of between 3% and 3.5% this year, against a range of 3.2% to 3.7% in a previous estimate . The decline in unemployment should also be slower than expected.Further support measures are also envisaged.
The markets then observe with great attention the publication of a burst of U.S. macroeconomic indicators this afternoon. Index are expected producer prices in June and the Empire State index of activity in New York. Next came the enrollment figures for weekly unemployment benefits, as well as those of industrial production and capacity utilization.
Another new arrival is somewhat reassuring to China this morning.The country has announced that the GDP growth amounted to 10.3% from April to June, a slowdown from the first quarter (+11.9%) and the last three months of 2009 (10 , 7%).
Several publications in the program
As for results announcements, trucks U.S. could also evolve global ratings: JP Morgan Chase, Google and AMD will lift the veil on their performance in the second quarter.
In Paris, many companies also publish their sales figures this Thursday. This is the case of Carrefour (second quarter), Seb (first quarter), Pierre et Vacances (second quarter), or Stallergenes (second quarter).
The bank suffered
The bad macroeconomic news weigh on the banking sector. This document draws down: BNP Paribas is the largest decline of ACC (-1.60%).The bank carries with it Societe Generale (-1.42%) and Credit Agricole (-1.10%).
The automotive industry is moving downward as well. The Association of European Automobile Manufacturers (ACEA) has announced a 6.9% decline in registrations in June to 1.34 million units sold last month. Peugeot coward 1.01% 24.12 euros while Renault fell by 0.84% to 34.78 euros. In their wake, Faurecia drops 1.73% and Michelin lost 0.35%.
Moreover, Metabolic Explorer (-1.82% to 5.40 euro) company specializing in production processes by organic industrial chemicals, announced on Thursday before market sales nil.The group reiterated its goal of placing on the market the first products of technology METEX in 2012.
Eurofin explains on its website on Thursday it recorded a strong improvement in its operating performance and profitability in the second quarter. The group will not give more detail before the publication of its results on August 30 next. Securities surged by 17.61% to 39.49 euros.