(CercleFinance.com) – Volatility is still at the rendezvous in Paris: from a gain of 2% this morning, the CAC40 briefly went into the red one hour before the closing ‘fixing’ before ending the session of the day on a gain of 0.98%, to 6,508 points.
The upward trend is also confirmed in London (+0.94%), in Frankfurt (+1.20%) as well as on the E-Stoxx50 (+0.96%) but also across the Atlantic where the Dow Jones progresses by 0.5% behind the S&P500 and the Nasdaq (+1%).
Most of the gains came from +12% from Meta-Platform (ex-Facebook) after better than expected earnings published last night.
In addition to the publications of a shower of quarterly corporate results, the day’s session was punctuated by numerous economic statistics.
The most surprising is obviously the -1.4% contraction in US GDP in the 1st quarter of 2022 (far from +1.1% anticipated by the consensus), linked to the fall in exports (other parameters such as consumption , investment and employment are very positive).
The US benefited from a strong increase in consumer spending (+2.7%) during the 1st quarter, but which turned out to be a bit of a sham: it resulted from the ‘price effect’ on products such as fuel or food which represent incompressible expenses.
In addition, the number of registered unemployed in the United States fell by -5,000 in weekly data to 180,000: the US Department of Labor specifies that the number of regular beneficiaries fell by 1,000 to reach 1.41 million CVS at the end of the week of April 9 to 16.
This is the lowest algebraic level since the early 1970s.
An important figure also in Germany this morning: according to Destatis, the rise in energy prices has once again fueled inflation which climbed to 7.4% in the first estimate in April (against 7.2% expected ), according to official figures released Thursday.
According to initial figures published by the Federal Statistical Office, consumer prices increased by 0.8% over one month, that is to say compared to March.
According to the harmonized HICP inflation standard, inflation stands at +0.7% over one month and +7.8% over one year: unheard of since 1981 with the Iran-Iraq conflict.
Energy prices alone soared 35.3% year on year in April, a phenomenon that was accentuated with the outbreak of war in Ukraine.
The bond markets deteriorated spectacularly on both sides of the Atlantic with +10Pts on OATs at 1.407% and on Bunds at 0.9100% and US T-Bonds soared by +9Pts at 2.8620%.
Yesterday’s suspension of gas deliveries by Russia’s Gazprom to Poland and Bulgaria has heightened expectations of inflationary pressures in Europe, synonymous with a weakening of the euro: our currency is sinking to a new 5-year low, at 1 .0470, or -8% this Thursday and -7.6% since January 1.
Foreign exchange effect still: in Asia, the Tokyo Stock Exchange ended up 1.8% on Thursday thanks to a decline of nearly 2% in the yen against the dollar (to a 20-year low of 1.3100% ) after the Bank of Japan (BoJ) decided to maintain its economic stimulus measures and buy ‘as many Treasuries as necessary’ to keep the ’10-year’ yield below 0.25% .
Oil is recovering by +1.5% towards $107 in London, gas is also still up sharply compared to Monday.
On the value side, Total posted adjusted net income of $9 billion in the first quarter of 2022 and IFRS net income of $4.9 billion. The group posted adjusted net operating income from the segments of $9,458 million in the first quarter of 2022, compared to $3,487 million in the first quarter of 2021. Adjusted net income, share was $8,977 million compared to $3,003 million. The group also announces that it has decided to provision an amount of $4.1 billion as of March 31, 2022, in particular for Arctic LNG 2 in Russia.
Sanofi’s sales reached 9,674 million euros in the first quarter of 2022, up 12.6% on a reported basis. Business EPS was E1.94, up 20.5% on a reported basis and 16.1% at constant exchange rates, and IFRS EPS was E1.61 (+28.8%). Sanofi expects 2022 business EPS to grow “low double-digit” at CER, barring unforeseen major adverse events.
Thales’ revenue amounted to €3,730 million in the first quarter of 2022, compared to €3,573 million in the first quarter of 2021, up 4.4% on a reported basis, and up 2.7% on a like-for-like basis. constant exchange rates. Order intake amounted to 3,033 ME in the first quarter of 2022, down 6% compared to the first quarter of 2021.
Thales confirms all of its annual objectives: revenue in the range of 16.6 to 17.2 billion euros, corresponding to organic growth of between +2% and +6% compared to 2021 and a margin of ‘EBIT between 10.8% and 11.1%, up 60 to 90 basis points compared to 2021.
The Capgemini group achieved revenue of 5,167 million euros in the 1st quarter of 2022, up 21.0% at current exchange rates and 17.7% at constant exchange rates compared to the 1st quarter of the previous year. Management targets for the 2022 financial year revenue growth at constant exchange rates of between +8% and +10%, an operating margin of between 12.9% and 13.1% and generation of free cash -organic flow greater than 1,700 million euros.
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