CAC40: Slight decrease after news from China – 04/05/2022 at 10:55 am

( – The Paris stock exchange starts the session with a decline (-0.3%) towards 6710 points, the day after a session in which the CAC40 gained 0.7%, a favorable orientation for the image of most major world markets.

Global stock markets have continued to rally in recent hours, despite news from China, where more and more major cities are being hit by restrictive measures to curb the spread of the Omicron variant.

“The economic costs of the zero Covid strategy are increasing and are likely to exacerbate material and supply bottlenecks in Germany as well,” warns Commerzbank.

Statistically, the session was dominated by the release of S&P Global’s various composite PMI indices, as well as French industrial production. We are waiting for the balance of trade and the ISM for services in the United States.

In February 2022, production in France fell in manufacturing (-0.5% after +2.2%) as well as in manufacturing as a whole (-0.9% after +1.8%), according to data adjusted for INSEE seasonal variations and working days (CVS-CJO).

The S&P Global Composite PMI of total activity, which recovered from 55.5 in February to 56.3 (number slightly revised from a preliminary estimate of 56.2), points to an acceleration in the increase in activity from the French private sector in March.

“Finally, we’ll hear from the Fed’s influential pigeons, Vice-President-in-waiting Brainard and Chairman Daly and Williams, before tomorrow’s FOMC minutes are released,” notes Deutsche Bank.

In the news about the values, Casino indicates that it has sold the balance of its participation in the country Mercialys, ie 10.3% of the capital, generating a product of 86 million euros for the food distributor.

Icade announces that on April 1, it has completed the sale of the Le Millénaire 4 building in the Parc du Millénaire (19th Paris) for 186 million euros, bringing sales in the Parc du Millénaire to almost 740 million.

Thales Alenia Space, a joint venture of Thales (67%) and Leonardo (33%), announces a partnership with Microsoft to explore the development of new capabilities in space computing and geospatial observation tools.

UBS reaffirms its buy recommendation for Alstom with a target price cut from EUR 47 to EUR 44, a new target that still leaves a growth potential of 109% for the transport equipment manufacturer title.