Bright red in the Paris Bourse
While the strong yen's strength is in addition to concerns over the economic outlook for the U.S., the session does not fail to stand under the sign of the pessimism in the Paris Stock Exchange on Tuesday.
After the profit taking which had plagued the Asian and American markets, the CAC 40 fell sharply changing from 0.86% to 3456.89 points in mid-session. Earlier, the index ceded more ground to -1.48% in the first few exchanges.
The trend is the same on the stock exchanges in Frankfurt and London: The German Dax opened down 1.12% at 5846.03 points and the FTSE-100 5142.22 1.14% to Abadon points.Around noon, they give respectively 0.67% and 0.92%.
As for companies, an impressive set of interim results announcements, part of which was made pre-market is on the agenda.
Banking and auto punishment
At mid-session, four stocks in the CAC 40 rose evolved: Vallourec (0.89%), Vivendi (-0.8%), Pernod Ricard (+0.03%) and Saint-Gobain (0, 02%).
On the other side of the charts, banking stocks are struggling. Crédit Agricole, red lantern, down 2.8%, 2% of AXA, Societe Generale 1.98%, 1.35% Dexia. The car values are also affected. Peugeot and Renault lost 1.51% 1.74% yield.
Ipsen is not convinced
Carrefour (-1.5% at 35.57 euros).The retail group reported a net profit of 67 million euros against a loss of 48 million last year, and has the bearing of the recommendation of Citigroup to "buy" cons "hold". The analsytes welcome launch of the new hypermarket concept.
The decline was more pronounced for Eurazeo, which is ironed in the green with a net profit of 88.5 million euros against a loss of 120.9 million a year ago. The shares lost 1.77% to 46.16 euros.
Still more in the red, Hermes (-3.61% to 141.65 euros) a net profit up 55.2% to 194.6 million euros.
Ipsen (-3.83% to 26.85 euros) publishes an annual turnover up 6.3% to 553.9 million euros and earnings down 23.5% to 75.5 million euros.
In the green on the other hand, Iliad (+1.8% at 70.75 euros), the parent of Free ISPs and Alice, shows an increase of 138% of its net profit to 171.4 million from Euro. Finally, the group
Aeroports de Paris (+0.04% to 54.5 euros), manager of platforms Roissy and Orly airports, reported a net profit increase of 8.2% to 137.7 million euros and turnover of 1.3 billion euros (+2.5%).
Havas, Bouygues, Vinci and Eiffage publish after-hours trade.
Statistics expected
The meeting was equally busy on the macroeconomic front. For the euro zone inflation slowed in August in the euro zone to 1.6% over one year after 1.7% the previous month, according to a first estimate of the European statistics office Eurostat published Tuesday.On the employment front, it is now five consecutive months as unemployment is 10%, its highest level since the creation of the euro area in 1999.
In France, sales of new homes rose 7.6% in the second quarter over a year, while housing starts rose 0.2% and building permits by 31.4% between May and July 2010 , announced the Department of Ecology. The corporate failures for the month of March and agricultural prices in July will be released by INSEE 12:00.
In Germany the number of unemployed in Germany fell in August to its lowest level since November 2008, thus establishing the conditions for continued growth in household spending needed to recover more balanced economy. The unemployment rate remained steady in August, and in line with expectations at 7.6% of the workforce.
In the U.S., house prices (15 hours), economic activity in the Chicago area (to 1545) and consumer confidence in August (16 hours) are also scheduled.
On the currency markets, the euro recovers against the dollar (+0.24% to 1.2697 dollar), to 12.10.