CAC40: frozen around 7.335, improvement on invalidated OATs


(CercleFinance.com) – The CAC (-0.2%) continues its ‘flat’ consolidation (between 7,325 and 7,345) since 10:45 a.m. this morning.
After a promising start to the week (and March stock market term) with an initial gain of 0.4% (in continuity with the bullish funicular of the previous week), the CAC40 index quickly returned to zero then drifted sideways around a pivot of 7340 points.

Unsurprisingly, the exchanges are anecdotal with only 1.35 billion euros exchanged just over 35 minutes from the close: we are heading for a session with less than 2 billion euros exchanged.
This apathy which is found on the Euro-Stoxx50 (-0.2%) and the DAX (-0.1%) results from the absence of a session on Wall Street, closed due to the commemoration of the birth of George Washington.

Operators have no reason to take initiatives due to the absence of leading economic indicators, with no statistics appearing on today’s agenda.

After a calm day on the macro-economic level on Monday, the rest of the week will be marked by several important events, including the publication tomorrow of the latest PMI activity indices in Europe before the publication on Wednesday of the German Ifo business climate index.

In the immediate future, the only point of tension therefore seems to relate essentially to diplomatic relations between the United States and China, both on the issue of spy balloons and on Beijing’s possible support for Moscow in the Ukrainian conflict. .
On the bond front, ‘President’s Day’ in the United States also caused activity to plunge in Europe with insignificant scores: the small upturn at midday has already disappeared (-0.3 Pts on our OATs at 2.919% and -0.5pt on Bunds at 2.455%, stability in Italian BTPs).

On the corporate side, the results season is now officially coming to an end since only 61 of the companies in the S&P 500 index, including two components of the Dow Jones, will publish their accounts this week.

In Europe, a few big names such as BASF, Capgemini, Engie, Holcim, HSBC, Stellantis or Telefonica will also comply with the exercise over the coming days.

On the bond side, European markets are stabilizing after ending the past week on a positive note, with German Bunds holding around 2.44% and French OATs at 2.90%.

In company news, Icade publishes net current cash flow (NCCF) for 2022 up 7% to around €417 million (i.e. +5.9% to €5.50 per share), ‘above guidance’, for IFRS revenue up 9% to 1.8 billion euros.

Riber shares rose sharply on Monday morning (+2.3%) on the Paris Stock Exchange, the manufacturer of equipment for the semiconductor industry having announced that it had won a contract in Asia.

Finally, Technip Energies says it has been awarded a detailed front-end engineering (FEED) contract with Arcadia eFuels to design the first commercial-scale plant for the production of sustainable aviation fuels, located in Vordingborg, Denmark.

Copyright © 2023 CercleFinance.com. All rights reserved.

Did you like this article ? Share it with your friends with the buttons below.


Twitter


Facebook


LinkedIn


E-mail





Source link -85