After a session on Tuesday to ponder the growth prospects of the global economy, the Paris Stock Exchange found its way up and closed the day on Wednesday with a gain of 1.38% to 6,624.91 points. The trading volume reached 4.05 billion euros. More than a technical rebound, the day’s progress is due to better-than-expected sales in the first quarter in France and/or allowing management to confirm their course. So the cosmetics giant L’Oréal (+0.77%) saw its organic growth accelerate in the first quarterin particular thanks to the lifting of health restrictions in Europe and the continued strong demand for China† Despite the geopolitical context and a very high comparison base, the business services group Teleperformance (+5.81%) continues its expansion, with sales showing an organic growth of 36% as of March 31. The targets for 2022 are confirmed.
Danone and the Lactalis Rumor
danone has long jumped at the head of the Cac 40, before being overtaken by Teleperformance. The title of the agri-food group eventually climbed by 5.76%. At the end of March, sales amounted to 6.24 million euros, an increase of 10.2% in published data (+7.1% organically), compared to 6.1 billion expected according to the consensus. The title is also and above all benefited from rumors of interest from Lactalis† According to La Lettre A, the dairy giant has been working on a (partial) acquisition of Danone for several months. The latter was quick to reply that he had no intention of selling his three asset classes, be it water, specialty foods, or dairy and plant products.
Also circled are the values of the bank compartment (BNP Paribas† Agricultural credit and Societe Generale) gained between 2.95% and 3.28%, while yields on French and US debt fell slightly.
The beginning of the end for Netflix?
The yield of the French 10-year OAT fell to 1.3351%, while it is equal to UNITED STATES fell to 2.8686% after hitting 2.94% the day before, the highest level since late 2018. According to BofA analysts, the panic for inflation has been exaggerated and should peak in the second quarter before hitting the would decrease by the end of the year. The beige book of the US Federal Reserve (fed), released tonight at 8 p.m. (Paris time), will provide valuable qualitative information for measuring the impact of inflationary pressures on US growth.
The enthusiasm for French values contrasts with the fall of netflix† The streaming giant’s title is unscrewing 35% in New York, the day after the announcement of the loss of 200,000 subscribers in the first quarter. This is a first since 2011 in the group’s history, who expects the bleeding to continue. It could revise its model and launch a new, cheaper offering with…advertising.
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