(CercleFinance.com) – The Paris Stock Exchange offered a remake of Thursday’s session, with a gain of +1.64% (around 6,516) at the close.
On Wall Street, after +2% the day before, the S&P500 adds +1.6%, the Nasdaq +2.3% to 12,010 (+900Pts recovered in 3 days, +3.5% weekly), the Dow Jones +0 .9% (it is close to 33,000Pts).
The day had started well in Asia with the surge of +2.5% in Hong Kong, the Tokyo Stock Exchange posted gains of nearly 0.6% at the end of the session (which brings its increase to more than 1.4% progress over the past month).
Beijing has detailed measures to improve foreign trade, in a bid to maintain stability in the economy and supply chains.
As for the indicators, investors took note of US household spending: it increased by 0.9% in April compared to the previous month in the United States, according to the Commerce Department, where Jefferies anticipated an increase by 0.7%.
For their part, their incomes increased by 0.4%… but the most anticipated figure concerned the annualized rate of increase in the PCE price index (food basket) which fell from 0, 3 points at +6.3% in total data, and at +4.9% excluding energy and food (despite a sequential increase of +0.2%).
The Michigan consumer confidence index is disappointing: it has been revised quite sharply downwards to finally settle at 58.4 for the month that is ending, against a preliminary estimate of 59.1, after 65.2 in April.
This contraction of -10% month-on-month, stronger than initially estimated, was driven by both the current situation component and the consumer expectations component, both down to 63 respectively. .3 and 55.2.
On the US bond market, the yield on ten-year Treasuries is falling again, to 2.754% against 2.78% yesterday evening, bringing a welcome breath of fresh air after the tensions of recent weeks. Our OATs erased -4.6Pts at 1.472%, the Bunds -4Pts at 0.954%.
Watch out, however, for oil, which is prancing towards $118 in London and $115 on the NYMEX, levels that have not been revised since the end of March.
On the side of values, Saint-Gobain indicates that it has signed agreements for the sale of several glass processing activities in Germany and Austria, as part of the strategy to optimize the group’s profile. These activities generated combined revenue of approximately €55 million in 2021 and employ more than 320 people.
On the occasion of an update on its activity, Maisons du Monde (-27%) reviewed its objectives for the year. The group now expects sales to fall in mid-single digit for the whole of 2022, whereas it previously hoped for an increase. It now only expects an EBIT margin of 5% or more, whereas it previously anticipated it around 9%, and forecasts free cash flow between 10 and 30 million euros, and no longer between 65 and 75 million.
Ipsen announces encouraging data will be presented on its Cabometyx (cabozantinib), for a variety of cancer types, at the American Society of Clinical Oncology (ASCO 2022) annual meeting, June 3-7.
Bernstein raised Friday his opinion on the Pernod Ricard title, which he wears from ‘market performance’ to ‘outperformance’, mainly for valuation issues. Its target price is simultaneously lowered from 222 to 215 euros.
Bernstein also raised his opinion on Remy Cointreau shares this morning from ‘underperformance’ to ‘market performance’, citing mainly valuation issues. Its target price goes from 180 to 170 euros.
JP Morgan on Friday degraded its recommendation on the JCDecaux title, which it reduces from ‘neutral’ to ‘underweight’, with a price target lowered from 22.7 to 16.6 euros.
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