The benchmark CAC 40 increased by 47.05 points, reflecting a rise of 0.6%, currently standing at 7,877.16. STMicroElectronics has experienced an increase of approximately 3.2%. Stellantis has increased by 2.6%, whereas LVMH and Capgemini have risen by 2.2% and 2.1%, respectively.
In light of the recent data indicating a contraction in France’s private sector activity for September, it is noteworthy that French stocks are experiencing a robust increase on Tuesday afternoon. This positive movement is supported by data reflecting an acceleration in Eurozone private sector growth, alongside NVIDIA’s announcement of a $100 billion investment in OpenAI, which is contributing to overall market sentiment. NVIDIA has announced its plans to invest up to $100 billion in OpenAI to develop next-generation AI data centers. Edenred and Kering have increased by almost 2%. Saint Gobain, ArcelorMittal, Michelin, Accor, Hermes International, Schneider Electric, Renault, Carrefour, Safran, TotalEnergies, and Pernod Ricard have experienced an increase ranging from 1% to 1.7%. EssilorLuxottica has experienced a decline of approximately 1.1%. Sanofi, Societe Generale, Eurofins Scientific, AXA, and Euronext have experienced declines ranging from 0.3% to 0.7%.
In September, France’s private sector exhibited new indications of weakness, with output declining at accelerated rates in both manufacturing and services. The HCOB composite output index decreased unexpectedly to 48.4, down from 49.8 in the prior month. The projection indicated an increase to 49.9. The score has consistently stayed under the neutral 50.0 threshold for the thirteenth consecutive month. Furthermore, the report indicated the most significant decline since April. There were signs of renewed weakness in both manufacturing and services. The services Purchasing Managers’ Index recorded a value of 48.9, a decline from the previous month’s figure of 49.8 in August. The score registered at 49.7.
The manufacturing PMI decreased more than anticipated, falling to 48.1 in September from 50.4 the previous month. The score was projected to decline to 50.2. The HCOB Flash Eurozone Composite Purchasing Managers’ Index, compiled by S&P Global, increased to 51.2 in September from 51.0 in August, indicating the ninth consecutive month of growth; however, new orders remained stagnant after a brief expansion in August. The services sector contributed positively to business activity; however, the manufacturing sector experienced a decline, leading to a more uncertain outlook.