(BFM Bourse) – Despite a weekend in decline, after having started 2022 with a series of new records, the results remain generally positive (+ 0.93%) for the Parisian market in this first week of the year. Fears of a stronger-than-expected monetary tightening on the part of the Fed nevertheless took precedence from Thursday on the optimism of investors vis-à-vis the low danger of Omicron.
The ACC has shown three faces at the start of the year 2022. A first, enthusiastic, having resulted in an inaugural sequence of sharp consecutive increases and new historic highs (in session Tuesday and closing Wednesday) against a backdrop of reassuring news as to the dangerousness of Omicron. A second, Thursday, much more cautious in the face of the prospect of an accelerated monetary normalization suggested by the “minutes” of the Fed, with a big correction in the key (-1.72%). And to finish a more moderate attitude this Friday, even if the tricolor market faltered at the beginning of the afternoon after the publication of a less good than expected report on salaried employment in the United States, and although this- This could temporarily calm the ardor of the American central bank concerning the number of rate hikes to be carried out in 2022 – the main argument put forward by the monetary authority to hasten them being precisely the tensions on the job market.
The barometer of the tricolor market nevertheless limited the breakage at the end of the session by yielding only 0.42% to 7,219.48 points, in a fairly large trade volume of nearly 4 billion euros. On a weekly basis, the CAC 40 nevertheless signs its third consecutive increase (+ 0.93%), after those of the last two weeks of December (+ 2.31% then + 0.94%).
While economists forecast around 400,000 to 420,000 net job creations in December (excluding the agricultural sector), data compiled by the Bureau of Labor Statistics revealed that the US economy had created just 199,000 jobs in the past month. The collection of projections, however, partly preceded the impressive acceleration of coronavirus cases, which has probably slowed down hiring trends, which may explain the magnitude of the gap.
After opening in the red, the New York indices were moving in scattered order at midday (+ 0.2% for the DJIA, -0.1% for the S&P and -0.6% for the Nasdaq at 6:05 p.m. ). The broad index, and even more the technology index, is heading towards significant weekly losses.
Strong results for STMicro and Trigano
While the American banks will give from the end of next week the real signal to open the results season (with Citi, JPMorgan and Wells Fargo), in Paris STMicroelectronics has already entered the dance. The group reported a turnover of 3.56 billion dollars in the fourth quarter, beyond its objective, and underlined certain signs of improvement even if the shortage of components, especially in terms of products. intended for the automotive and consumer electronics sectors is not yet resolved. STMicro stock topped the charts, gaining 3.5%.
Outside the flagship index, Obiz stood out by more than 13%, after raising its 2021 revenue growth forecast to + 135%, to more than 36 million euros, against more than 29 million covered so far. Trigano gained 5.8%, the motorhome manufacturer having unveiled for its first quarter 2021/2022 an increase of 9.2% of its revenues to 786.5 million euros, the price increases having visibly not discouraged customers always fond of escape on four wheels.
The repositioning of Europlasma pays off
On the contrary, Ecomiam’s price declined by almost 8.9% while the group saw its turnover on a like-for-like basis decline in the first quarter of 2021/2022 (compared to the period from October to December 2020 , boosted by the second confinement). However, the continued development of the store network enabled an overall growth of 32% in the sales of the Breton distributor of fresh frozen products, poorly prepared, accessible and 100% made in France.
Europlasma, one of the most speculative files of the Parisian quotation, benefited from a new rebound (+ 8.3%) while the group announced the doubling of the turnover expected on its first contract since its repositioning . In the afternoon, the group also announced the construction project in Cébazat (63) of a factory for the production of high pressure aluminum storage containers, part of which is recycled thanks to the new process developed by Europlasma Environmental Technologies. in China.
On the currency side, the publication of the US employment report led to a clear appreciation of the single currency against the greenback at 6:10 p.m. (+ 0.49% to $ 1.1352). Bitcoin, on the other hand, declined significantly (-2.5% to $ 41,990).
Still up in the morning, oil prices also fell slightly (-0.3% to 81.8 dollars for a barrel of Brent, -0.7% to 78.9 dollars for the WTI) after having reached this week of peaks since the appearance of Omicron, against a backdrop of fears about the offer.
Quentin Soubranne – © 2022 BFM Bourse