(CercleFinance.com) – The Paris stock market could end the session at its highest: the CAC40 posted +1.5% to 6,635pts) benefiting in particular from the surge in Danone (the stock posted a rise of more than 6% after the announcement of its results) and the dynamism of banking stocks: Crédit Agricole, Société Générale and BNP Paribas gained between 4 and 4.8%.
The Euro-Stoxx50 climbed by +1.8% (beyond 3,900) in the wake of ASML which soared by more than 6%.
Green prevailed from the first exchanges, the day after a day marked by the good form of Wall Street: the upturn continued this Wednesday with a Dow Jones at +1%, an S&P500 at +0.5% … and the Nasdaq, which suffered from Netflix’s tumble (-37% to $220), is now down -0.5%.
There were also statistics: the National Federation of US Realtors (NAR) reports a -2.7% drop in resales of old homes in the United States in March (to 5.77 million transactions) compared to February and -4.5% compared to March 2021
The NAR also indicates that the stock of unsold homes increased by +80,000 to stand at 950,000 at the end of March (against 870,000 in February), which represents 2 months of stock, at the current rate of sales.
Finally, the median price of housing (mainly houses) stands at $375,300, an increase of +15% over one year.
U.S. inventories of crude oil, gasoline and distillates all fell last week, according to figures released Wednesday by the U.S. Energy Information Administration (EIA).
Crude stocks fell by eight million barrels to 413.7 million barrels, while gasoline stocks fell by 800,000 barrels, where reserves of distillates – which include heating oil in particular – fell of 2.7 million barrels.
The capacity utilization rate of American refineries reached 91%.
Crude prices reacted to these figures by rising again, to 102.8 dollars per barrel (+0.3%) for American light crude and +0.5% for ‘Brent’ at just over $104.
In the United States, T-Bonds broke new annual records with 2.93% for ten-year paper following ‘hawkish’ statements by James Bullard, the president of the St. Louis Fed.
The high dignitary, who has become one of the spokespersons for the Federal Reserve, has indeed recommended a key rate of 3.50% by the end of 2022, which implies rate increases of 50 points at the outcome of the next six Fed meetings.
In France, OATs yesterday crossed the 1.40% threshold, unheard of since 2017, before settling a little towards 1.35%, US T-Bonds eased by -2.5 Pts to 2.8900 %.
Investors will be attentive this Wednesday to the publication of sales of old homes in the United States, before the announcement of the traditional oil stocks at the end of the afternoon then the publication of the Beige Book of the FED this evening at 8 p.m.
Still on the macroeconomic level, but this time in Europe, the speakers discovered the latest figures for industrial production in the Euro zone (+0.7%) then the trade balance for the euro zone: it deteriorated to -9.4 billion euros in CVS in February (after -E7.7bn in January).
The month-on-month deterioration reflected seasonally adjusted eurozone exports which rose 0.8%, while imports rose 1.5%.
In the news of French companies, Danone (+6.3%) is claiming a good start to the year, with net sales of 6.24 billion euros in the first quarter, up +7.1% in like-for-like data driven by a price effect of +4.9% and a volume/mix effect of +2.2% (+10.2% in published data).
L’Oréal published yesterday evening a turnover of the Group at March 31, 2022 of 9.06 billion euros in published data, up by +19.0%. On a like-for-like basis (ie at identical structure and exchange rates), revenue growth was +13.5%. The group says it remains optimistic about the outlook for the beauty market, and confident in its ability to ‘outperform’ the market.
Finally, for its first half of 2021-22 (ending at the end of March), Manutan posted revenue growth of +9.6% at constant exchange rates and days, without scope effect, to reach a record of 439.7 million. euros.
For the remainder of the year, the group will continue to implement its development strategy while maintaining its medium-term investment plan. He indicates that he remains ‘active in the search for opportunities for external growth’.
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