The Cac 40 maintains its bullish rate, heading for an initial decline on Wall Street, Market News

The Paris Stock Exchange is progressing for the third session in a row, supported by good corporate releases and the commitment of the Chinese authorities to strengthen their support measures to protect the economy and ensure an evolution” stable and healthy Financial markets. While the earnings season is in the middle of the ford in Europe, according to Barclays, nearly 75% of companies in the Old Continent have exceeded earnings expectations. In addition, the day’s indicators are perfectly in line Eurozone inflation, according to the first estimate in April, remained at an all-time high of 7.5% year-on-year, while GDP growth stood at 0.2% in the first quarter, up from +0.3% in three months earlier.

Wall Street, for its part, is moving toward a decline from the opening. The disappointing results from Amazon, which suffered its first loss since 2015 and presented disappointing forecasts, and Apple’s anticipation of supply chain tensions are likely to weigh on the rating’s technology compartment. The e-commerce giant fell 10% in market preview and Apple fell 1.1%. On a macroeconomic level, US household income rose 0.5% last month and spending 1.1%, against expectations of +0.4% and +0.6% respectively. The “core” PCE index of personal consumption expenditure, the inflation measure most closely monitored by the Fed, is up 5.2% in a year, while the market expected a 5.3% increase.

At 2:45 pm the Bedroom 40 rose by 0.87% to 6,564.99 points on a turnover of 1.4 billion euros. For now, the month of April loses 1.43%.

X-Fab and Seb make the splits within the SRD

Global financial markets remain subject to high volatility due to the risk of a slowdown in the Chinese economy due to health concerns, geopolitical tensions and the monetary tightening process initiated by the US Federal Reserve. A 150 basis point hike in Fed Funds interest rates is expected by July. The monetary policy council will meet next Tuesday and Wednesday.

Biggest increase in the Cac 40, Airbus rose 2.3% following the extension for two of an agreement with Safran and Germany’s MTU Aero Engines to supply engines that should enable the company to increase production.

holy gobain earns 1.5%. 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 increases by 2.1%. 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 1.8%. 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 2.9%. 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 2% and 2.5% respectively.

Largest increase SRD, X-Fab Silicon Foundries 9.6% up. 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 4.5 percent. 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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