(CercleFinance.com) – The Paris Stock Exchange (+0.4% to 6,705) seems set to achieve an 8th week of consecutive increases (+2% in 5 sessions +1% over the last 4), with a gain of 0.6% in the morning which propelled the index to 6,730 (ie +1,100 Pts in a straight line and less than 6% annual decline), in an almost sidereal vacuum in terms of volumes.
The Euro-Stoxx50 also rose by +0.4% in the wake of the DAX which posted +0.7% and now +22% on its ‘lowest’.
Just like the day before, the CAC40 progressed ‘in a vacuum’ (1.35 billion euros in 8 hours) and in the absence of any opposition, the sellers having deserted the place after a rebound of
The exchanges are very calm while Wall Street will remain closed in the United States, because of Thanksgiving and will not reopen until tomorrow for a half-session.
Investors were able to take note of the business climate index in Germany. This improved more than expected, to 86.3 against 84.5 in November, companies being less pessimistic about their prospects, shows the monthly survey published Thursday by the Ifo institute.
This 1st positive figure since March makes Clemens Fuest, the president of the Munich institute, say that ‘the recession could turn out to be less severe than expected’.
In France, the business climate remained stable in November, given the synthetic indicator calculated by INSEE from the responses of business leaders in the main market sectors, an indicator which remains at 102. for the third consecutive month.
This stability, slightly above the long-term average (100), results from slight deteriorations in industry, construction and services, but from an improvement in wholesale trade and stability in the retail business.
In addition, the synthetic indicator of the employment climate lost one point and stood at 108, a slight deterioration which mainly results from the decline in the balance of opinion relating to the recent evolution of the workforce in services (excluding employment agencies). ‘interim).
Also eagerly awaited, the minutes of the last monetary policy meeting of the European Central Bank (ECB) could provide some interesting elements concerning the evolution of the debates within the Governing Council.
As a reminder, Wall Street ended (symbolically) higher yesterday, with the S&P500 set above the 4,000 threshold, as investors welcomed the ‘minutes’ of the last Fed meeting, which suggested that a slowdown in the pace of rate hikes may soon become appropriate.
‘The minutes detail the central bank’s plan to slow rate hikes to 0.50% in December after approving a fourth consecutive 0.75% hike earlier this month. as well at Wells Fargo.
On the foreign exchange market, the dollar weakened by -0.3%, to a level close to 1.0430 against the euro, the last ‘minutes’ pleading, in the eyes of observers, in favor of a softening of the Fed’s monetary tightening cycle.
On bonds, in the absence of US operators (absent for 48 hours), OATs continue to fall with -10pts to 2.285%, Bunds erase -8pts to 1.841%, Italian BTPs -11pts to 3.675% (i.e. + 184pts of ‘spread’ with the Bund).
In corporate news, Gucci, flagship brand of luxury group Kering, announces the departure of its creative director Alessandro Michele. Gucci’s design studio will continue to provide creative responsibility for the house until a new organization is announced.
Rémy Cointreau (-1%) publishes EPS group share up 64.7% to 4.40 euros for its first half of 2022-23, with a current operating margin of 36.8%, an improvement of 1 .7 points organic and 3.8 points published.
As part of its Renaulution strategy, Renault Group is announcing an acceleration of the decarbonization plan for its industrial sites with three strategic and unique partnerships to achieve its energy transition objectives.
Finally, Derichebourg (+7%) confirms this morning the existence of discussions with Elior (+10%) for the possible contribution of its multiservices branch. “To date, there is no certainty as to the outcome of these discussions and the conclusion of a firm agreement relating to this contribution”, specifies Derichebourg who confirms “that he has no intention of filing a takeover bid on Elior’.
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