(CercleFinance.com) – The situation remains frozen 45 minutes from the close with a CAC40 which ‘sticks’ to 5,900.
The President’s loss of majority and a ‘complicated’ situation to pass future reforms do not upset investors: it is a real ‘non-event’ both on the equity side and on the bond side.
If the OAT shifts by 7 basis points to 2.282%, this is not a sign of distrust vis-à-vis France because we observe an identical difference on the side of the ‘Bund’ at 1.7320%).
Nothing different is happening on the Paris Stock Exchange than on the other European markets: the indices begin the second half (stock market) on an undecided note which now leans on the upward side (timidly.
Trading volumes for the start of a monthly and quarterly term are anecdotal in Paris with less than 1.4 billion euros traded between 9 a.m. and 3 p.m. due to the closure of Wall Street on Monday (day of commemoration of the end of slavery ‘Juneteenth’, newly celebrated).
The massive clearances suffered by the Parisian market since the end of May could lead to some cheap buyouts: individuals have mainly been placed on the purchase for 15 days, preferably on index ETFs, in the hope of the reissue of the scenario from March 8 to 30 (it had worked well with a rebound of more than 10% of the CAC40 in 3 weeks.
Rebound hopes are inspired by a weekly loss of more than 5% in Paris (June 12-17) and -8.5% since the start of June, or -17.5% since June 1. January.
However, the fears surrounding the possibility of a recession will push companies to opt for a wait-and-see attitude in their investments and to give up on increasing their workforce.
But above all, from July 8/10, companies will begin to reveal their forecasts for the second half of 2022 and their margin and revenue outlook for the next 12 months.
The agenda in terms of economic statistics was announced to be relatively thin on Monday (and should remain so until Thursday and the publication of the PMI indices in Europe and the United States), but the first figure of the week seems to set the tone : the producer price index in Germany explodes at more than 33% on an annual basis, unheard of since 1949 (margins will inevitably suffer by the end of 2022).
The severe tightening of the monetary policies of the major central banks in order to combat soaring inflation will also remain a major point of attention, given the risks that this poses to global economic growth.
On the Forex, the day promised to be calm but the Euro recovered by +0.3% to 1.0525.
On the stock side, Airbus and Quantas have announced that they have invested nearly $200 million to accelerate the establishment of a sustainable aviation fuel (SAF) industry in Australia, as part of a ‘historic’ agreement ‘.
Valneva (+29%) and Pfizer have entered into a stock subscription agreement and updated the terms of their collaboration and license agreement for the Lyme disease vaccine candidate, VLA15.
Pfizer will invest 90.5 million euros (95 million dollars), or 8.1% of the share capital of Valneva at a price of 9.49 E per share, through a capital increase.
Figeac Aéro announces that it has entered into an agreement with Latécoère for the sale of the industrial and land assets of its Hermosillo subsidiary in Mexico. The completion of this operation should materialize no later than September 30, 2022.
Atos (-1% to 12.8E, but a new ‘lowest’ was recorded at 12.04E) announces that Stéphane Lhopiteau will leave the Group during the second half of 2022 and will be replaced by Nathalie Sénéchault as Chief Financial Officer of the Band.
The envisaged separation of Atos into two separate listed companies should lead to a complete reorganization of the Atos Group and in this case of its financial management.
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