(CercleFinance.com) – This promises us a good end: the Paris stock exchange (+0.7%) is accelerating upwards at 1 hour before the closing (or thanks to?) the brief tilt of the Euro below the threshold parity against the Dollar: -0.1% to 0.9998 (lowest since end of October 2002).
The Euro is indeed weighed down by a very bad sentiment indicator – the ZEW – in Germany: rates are falling sharply (-15Pts on average for our OATs and Bunds) and therefore its instantaneous remuneration falls by -6Pts against the Dollar which only loses 9 Pts of yield at 2.9100%.
Supported by a positive opening on Wall Street (the Dow Jones gained 0.3%), the CAC40 erased 6,030Pts and went back above 6,040Pts.
Investors seem to forget their concerns about demand in China with the reintroduction of severe restrictions (‘lockdown’ in several cities, electronic bracelet for Hong Kong residents ordered to stay at home) and the fear of a surge in oil prices gas linked to the shutdown for maintenance of the largest gas pipeline transporting Russian gas to Germany (will the Russians restart it, nothing is less certain).
Traders who rushed the Euro to ‘1/1’ against the Dollar punished the ZEW index (German Business Sentiment) which plummeted 25.8 points to a value of -53 .8 in the July 2022 survey, reflecting a sharp deterioration in the country’s economic outlook.
The assessment of the current economic situation in Germany has also deteriorated sharply, with the corresponding index currently standing at -45.8, ie 18.2 points less than in June.
In both cases, these are levels below those of March 2020.
“The main current concerns relate to the energy supply in Germany, the announced hike in interest rates by the ECB and new restrictions linked to the pandemic in China,” explains the institute.
Note a relapse of -2% in the price of a barrel while OPEC publishes a study which anticipates a weakening demand in 2023.
On the securities front, Thales announces the signing of an agreement to acquire the Dutch company OneWelcome, the European leader in the fast-growing market for customer identity and access management, for a total amount of 100 million euros.
Eurazeo indicates that it has signed an exclusive agreement with Apax Partners for the sale of its stake in Vitaprotech, a specialist in premium solutions for securing sensitive sites, an operation which would remain subject to regulatory authorizations.
Bonduelle announces a downward revision of its objectives, estimating that growth in sales and current operating margin should fall below the objectives of +3% and +3.6% respectively on an organic basis the whole exercise.
VESA Equity Investment, a company owned by Czech billionaire Daniel Kretinsky, declared that on July 5 it crossed the threshold of 20% of the capital and voting rights of Fnac Darty and held 20.03% of the capital and voting rights. of the distribution group.
Renault Group posted worldwide sales of one million units in the first half of 2022, down 12% year-on-year on a like-for-like basis, in a context disrupted by the semiconductor crisis and the shutdown of activities in Russia.
Dacia sales increased by 5.9% with 277,885 registrations at the end of June 2022 compared to the first half of 2021.
Finally, Air Liquide indicates that it has invested in its first biomethane production unit in China, which it will operate by the end of 2022. Located in Huai’an City, in Jiangsu province, it will have a production capacity of 75 GWh per year.
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