The Parisian market has tried to change gears … Its leading index, the Bedroom 40, gaining 1.34% in the early afternoon. The rebound in Chinese markets and quarterly company publications, which continue to be generally good in Europe, helped encourage buying participants. Not to mention Wall Street, which sowed discord. The trend was then reversed in Paris and the tricolor barometer plunged into red. It closed lower for the third consecutive session, dropping 0.54%, at 6,414.57 points, the lowest since mid-March. Transaction volumes reached € 4.1 billion.
across the Atlantic, the Dow Jones drops 1.3%. the Nasdaq compositetechnologically colored, they lose 3%, while the big names of the “tech” are preparing to reveal their quarterly accounts. Microsoft And Alphabet will open the ball after the close of Wall Street, A half (ex-Facebook) will follow tomorrow, first Apple And Amazon Thursday. In a context of future tightening of monetary policies of major central banks, including the US Federal Reserve (Powered), “tech” titles are losing their appeal. The deterioration of the health situation in China also worried. ” China is a big customer for American technology. […] The semiconductor industry does a lot of business there comments Peter Boockvar, chief investment officer of Bleakley Advisory Group to CNBC. You are herewho owns a factory in Shanghai and counts China as an important market for its electric vehicles, down 9%.
After the economic capital Shanghai, it is up to Beijing to fear the confinement of its population. A mass screening is underway in the city to stop the spread of Omicron. In a panic, the Pekingese stormed supermarkets to stock up on food and the authorities asked companies to use teleworking to limit the movement of their employees. This situation, if it were to degenerate, could seriously slow down the growth of the country and, by extension, the global one and slow down the supply chains.
Among stocks, cyclical stocks gained ground on the back of the euro’s decline, which is trading at a two-year low (March 2020) at less than $ 1.07. Saffron earns 1.1%, the engine manufacturer bills in dollars while its costs are in euros.
The telecommunications operator Orange (+ 1.02%) presented solid figures for the first quarter and confirmed its objectives, namely a growth in gross operating profit after leases (Ebitdaal) from 2.5% to 3% and organic cash flow from telecommunications activities of at least 3.5 billion euros next year . The group also reiterated that its Spanish businesses, committed to a marriage to MasMovil, will begin to generate higher organic free cash flow again by the end of the year.
Supported by an update of Bernstein’s recommendation, from “underperforming” to “inline performance”, the title of the distribution group intersection gained 1.26%.
Apart from the Cac 40 index, Faurecia fell 10.74%. The automotive supplier is the first large French company to launch a “profit warning” (notice on results). Very cautious about the evolution of car production in 2022, it decided to suspend the payment of the 1 euro dividend and to postpone the capital increase.
At the end, Orpea gave up 8.27%. The manager of the nursing homes, in turmoil after allegations of abuse, has postponed the publication of its annual accounts to 13 May. The first conclusions of the independent audit commissioned by him on the management of his nursing homes confirm the misappropriation of public funds.