CAC40: heavier in the wake of the bond market


(CercleFinance.com) – The heaviness is more noticeable on the Paris Bourse 45 minutes from the closing: the CAC now consolidates by -0.35% (towards 7.155), the Euro-Stoxx50 and the DAX of -0 , 8%.
It is a little disappointing because the CAC offered itself a new absolute record during the 1st exchanges, a little beyond the 7,200, the CAC ‘GR’ rising in contact with the 20,500 (towards 20,497), thanks to a non-existent activity favoring all price manipulation.

Wall Street is undecided in the aftermath of a mixed close on Wall Street: the Dow Jones still gained + 0.2%, the S & P500 is stable (after -0.1% the day before, it posted a + 4.8% gain in December) and the Nasdaq Composite yielded nearly 0.6% (+ 1.6% in December) … and the consolidation may continue until tonight, the only figure of the day being bad.

Indeed, the US trade deficit is now flirting with -100 billion dollars according to an advanced estimate of the Department of Commerce: it stands at 97.8 billion dollars for November 2021, compared to a deficit of 83.2 billion for the last month.

The administration specifies that this sharp increase of 17.5% in the deficit from one month to the next reflects both American exports of goods in slight decline, to 154.7 billion dollars, and an increase in imports, to 252.4 billion.
This weighs on the Dollar which falls back by -0.5% to 1.1360 / E.

The health issue could also remain at the heart of the concerns of operators this Wednesday, in the absence of major macroeconomic data, and while the news of companies is relatively absent.
The proliferation of ‘contact cases’ – with an exponential effect – triggers a tsunami of solitary confinements and quarantines of 7 to 14 days which will severely handicap companies when the truce for confectioners is over: there will be a shortage of hundreds of thousands of employees, the overwhelming majority of whom are asymptomatic and perfectly able to work.
This day is also proving more and more negative on the bond markets with + 6Pts for our OATs at 0.185%, + 6Pts on Bunds at -0.1900% … and US T-Bonds also post + 6OPts at 1.539%.

Among the rare news of the day, Teleperformance announces the acquisition of Senture, a major player in outsourced business process management (BPO) to administrations in the United States, owned by the investment company Kingswood Capital Management.

Neoen announces that it has commissioned the Bulgana Green Power Hub, in the Australian state of Victoria, a hybrid asset with the capacity to generate 750,000 MWh of green energy per year and thus supply electricity to around 150,000 homes.

The aeronautical equipment manufacturer Figeac Aéro publishes net income group share for the first half of 2021-22 showing a strong improvement to -21.9 million euros, against -51.1 million a year earlier, with increased turnover by 27% to 119.9 million.

Oddo BHF reiterates its’ neutral ‘opinion and its price target of 6.4 euros on Figeac Aéro, explaining that it is awaiting the outcome of negotiations with the various creditors (early 2022) but judging that’ the likelihood of an agreement favorable to Figeac grows with the support of ACE ‘.

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