European markets opened without any real direction on Wednesday, in the absence of any significant indicators and driven by a salvo of results.
In Paris, the CAC 40 stagnated at around 7,633.5 points at 08:26 GMT. In Frankfurt, the Dax lost 0.16%, against a hesitant FTSE in London.
The pan-European FTSEurofirst 300 index, the EuroStoxx 50 and the Stoxx 600 showed no marked direction.
New York index futures suggest that Wall Street will open with no clear direction, with the Dow Jones , Standard & Poor's 500 and Nasdaq looking for direction.
TotalEnergies' results were released on Wednesday, with the Group announcing record net income of $21 billion for 2023.
Amundi and Tikehau Capital in France, Sainsbury, Hannover Re, Siemens Energy , Akzo Nobel, Monte dei Paschi di Siena, Equinor and Carlsberg elsewhere in Europe reported results on Wednesday.
In the absence of any other major indicators, the results are driving markets that are gradually lowering their expectations of monetary easing by Western central banks.
On the stock market, TotalEnergies lost 0.91% after its annual results, at the bottom of the CAC 40.
Mersen is up 2%, one of the best performers on the SBF120, after Berenberg began monitoring the stock and recommended "buy". (Written by Corentin Chappron, edited by Kate Entringer)
TotalEnergies SE is one of the leading worldwide oil groups. Net sales break down by activity as follows:
- refining and chemistry (42.7%): refining of petroleum products (operated, at the end of 2023, 16 refineries throughout the world) and manufacture of basic chemistry (olefins, aromatics, polyethylene, fertilizer, etc.) and of specialty chemistry (rubber, resins, adhesives, etc.). The group is also operating in trading and sea transport of crude oil and oil products;
- petroleum products distribution (37.9%): at the end of 2023 operated 14,571 service stations worldwide;
- electricity generation (11.5%): from combined cycle gas plants and renewable energies;
- gas production, trading, transport and distribution (5%): primarily liquefied natural gas (44.3 million tonnes sold in 2023), natural gas, biogas, hydrogen, liquefied petroleum gas, etc.;
- hydrocarbon operating and production (2.8%): 2.5 million barrels of oil equivalent produced per day in 2023;
- other (0.1%).
Net sales are distributed geographically as follows: France (23.4%), Europe (41.2%), North America (9.4%), Africa (9.2%) and other (16.8%).