Good business results in Paris, ahead of US data, Market news

The Paris stock exchange is progressing for the third session in a row, an unprecedented streak for more than a month. The trend continues to be supported by good corporate releases, as well as the commitment of the Chinese authorities to their support measures to protect the economy and ensure an evolution” stable and healthy “financial markets.

While earnings season is in the middle of the ford in Europe, nearly 75% of Old Continent companies have exceeded expectations in terms of earnings, according to Barclays. In addition, the day’s indicators are perfectly in line with expectations. Inflation remained at an all-year high of 7.5% in the first estimate in April, while GDP growth stood at 0.2% in the first quarter, up from +0.3% three months earlier.

Half way through the session, the Bedroom 40 gained 0.52% to 6,542.16 points on a turnover of 1 billion euros. For now, the month of April loses 1.8%. the contracts future on US indices yields between 0.5% for the Dow Jones and 1.1% for the Nasdaq 100.

Apple exposed to supply tensions

Apple, which released its quarterly reports after the close on Thursday, certainly exceeded expectations but warned of the fallout from supply disruptions, which could cost it between $4 billion and $8 billion in the current quarter. Amazon, meanwhile, presented a revenue forecast that was below Wall Street’s expectations. Apple was down more than 2.6% and Amazon was down 8.7% in New York pre-market.

Global financial centers are still at risk of a slowdown in the Chinese economy due to health concerns, geopolitical tensions and the process of monetary tightening initiated by the Federal Reserve. A 150 basis point hike in Fed Funds interest rates is expected over the next three months. The monetary policy council will meet next Tuesday and Wednesday.

X-Fab and Seb make the splits within the SRD

Three US indicators will brighten up the afternoon, starting with March household income and spending statistics, which include the PCE index of personal consumption expenditure, the inflation measure most closely tracked by the Fed. Also following are the Chicago PMI for April and the final consumer confidence index as calculated by the University of Michigan for the month ending.

holy gobain increased by 1.2%. The building materials specialist confirmed that it expects further growth in its operating income in 2022, after seeing growth accelerate in the first quarter as the prices of its products continue to rise.

Accor profit 2.6%. The hotel group is optimistic about the recovery of its activity, as its revenues increased in the first quarter, thanks to the reopening of borders and the recovery in demand from its national clientele.

Remy Cointreau valued at 1.9%. The spirits group expressed confidence for the fiscal year 2022-2023, which ends at the end of March 2023, and confirmed its financial targets for the past fiscal year 2021-2022, in which sales grew by 30%.

Plastic Omnium increases by 3.9%. The automotive supplier has announced a project to acquire Varroc Lighting Systems (VLS), a supplier of automotive lighting systems, for an enterprise value of EUR 600 million. its competitors Faurecia and Valeo take 3% and 2.3% respectively.

Largest increase SRD, X-Fab Silicon Foundries jumped 8.2%. The founder, who grew 15% in quarterly revenue, says he could reach $1 billion in revenue by 2024, two years ahead of the previous estimate. Deutsche Bank has also increased its recommendation on the title from “hold” to “buy”.

Finally, seb down 4.8%. The small home appliance manufacturer achieved growth and operating income from operations at the end of March below analyst expectations. The health crisis in China could dampen second-quarter performance.


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