After a gain of 1.34% on Wednesday, the Paris Stock Exchange continued its positive momentum. The Cac 40 index closed Thursday’s session up 1.36% to 6,715.10 points, its highest level since late March. The volume of exchanges, quite large, amounted to 4.2 billion euros. More than the debate between rounds between Marine Le Pen and Emmanuel Macron, which did not disrupt voting expectations and still suggests a re-election of the outgoing president, the market reacted to the release of quarterly earnings. The same applies to UNITED STATESvalue Dow Jones profit 0.35% and the Nasdaq composite 0.6%, afterwards You are here (+7%) and US Airlines (+7.2%) reassured. The electric vehicle manufacturer was: boosted on a quarterly basiswhile the airline has announced it expects a return to profitability in the second quarter.
Any profit taking on Carrefour and Eurofins Scientific
In France, the main increases are due to two values outside the flagship index: Veralia and Rexel† The glass packaging manufacturer’s inventory climbed 11.42%, supported by the announcement of a sharp 24% increase in quarterly revenue, above expectations, and confirmation of business growth and adjusted gross operating income targets. Present in the distribution of electrical equipment, Rexel (+6.36%) also renewed its forecast for 2022, namely an increase in sales of between 4% and 6% over one year (on a comparable basis and at constant number of days) and a margin of EBITDA adjusted to 6%. For secondary companies, the financial performance of Serge Ferrari Group (+8.33%) and Lisa (+7.94%) were also welcomed. Conversely, the distribution group intersection lost ground (-2.95%), but remains a gain of 22.76% since the start of the year. The group was able to withstand a context made more complicated by inflation, but the market is holding back for activities that have remained stable in France. Going forward, management expressed confidence in its ability to achieve its targets this year and in particular confirmed its ability to cash flow more than a billion euros for free. Eurofins Scientific (-4.75%) also underwent releases. The marginal increase in the revenue target for the year, driven by Covid-19-related earnings, left investors unmoved, who reap some gains after a 142.7% jump in stock in three years.
A long-awaited speech from Powell
These results, at least on Thursday, have pushed doubts and concerns into the background with the prospect of a stronger-than-expected slowdown in the Chinese economy, inflation – which stood at 7.4% a year in March in the euro zonein the final version – and the future acceleration of interest rate hikes in the United States.
The heads of the three central banks of the United States, the Eurozone and the United Kingdom speak at a meeting of the International Monetary Fund (IMF) in Washington. the intervention of Jerome Powellthe boss of the US Federal Reserve will be rich in lessons as the debate among the members of the Monetary Policy Committee is intense about the pace of tightening and the rise in the cost of money. For its part, the European Central Bank (ECB) did not provide a timetable for rate increases, as it wanted to be flexible. On the other hand, his boss, Christine Lagardeconfirmed last week that it will end its asset purchase program in the third quarter due to inflation and despite the risk of the war in Ukraine† An opinion that the Vice-President of the institution, Luis de Guindos, does not share, ashe is already pleading for a verdict in July†
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