(CercleFinance.com) – After the air hole the day before (-2.7% in Paris, -2.9% in Frankfurt and London), the markets have picked up today in Europe: Paris ends the session on a jump of 2.03%, to 5,912 points, thus ahead of the E-Stoxx50 (+1.9%), Frankfurt (+1.7%) and London (+1.3%).
However, the euphoria is not shared across the Atlantic: the S&P500, the Dow Jones and the Nasdaq are also moving together, timidly in the red, dropping between 0.2% and 0.3%.
Thus, despite the rebound in European markets – a rebound which, moreover, does not completely compensate for the previous day’s low – the specter of recession continues to hover over the markets. Brent, which had lost 10% yesterday, is thus continuing to fall: today it is dropping more than 5% and is falling below the symbolic threshold of $100 a barrel, the markets anticipating a drop in activity and therefore a decline in Requirement.
On the currency side, the Euro continues to slide towards $1.017 (-0.88%) and has crossed the -10% mark since January 1st. It reached a new low for… 21 years and 7 months!
On the data front, eurozone retail sales for the month of May (seasonally adjusted) rose 0.2% but remained unchanged in the EU, compared to April 2022, according to estimates. Eurostat, the statistical office of the European Union.
Wall Street reacted little to the latest composite PMI and non-manufacturing ISM indices in the United States. The most watched PMI, that of ‘services’ (tertiary activity) recovered from 51.5 to 52.7.
Otherwise, the S&P ‘Global’ composite PMI index fell by -1.3 Pts: it stands at its lowest since January at 52.3 in the final estimate (revised from 51.2 in the flash estimate), after 53.6 for the month of May.
With regard to the ISM of ‘services’ (calculated by an American administration), it comes out at 55.3, a little above the consensus of 54.9.
In the news of the values in Paris, Schneider Electric, Legrand and Rexel all three indicate having received Monday, a notification of grievances from the French Competition Authority, grievances that the three groups contest.
After losing 8% yesterday, the title EDF gains more than 14.5% today, while the government has announced its intention to nationalize the group.
Alstom announces that it has won the contract from the MPMRCL (Madhya Pradesh Metro Rail Corporation Limited) to deliver 156 Movia cars with 15 years of integral maintenance for the metros of Bhopal and Indore, in central India.
Estimated at 387 million euros, the order includes the installation of the latest generation CBTC signaling system, as well as train control and telecommunications systems, each including seven years of integral maintenance.
bioMérieux announces the creation, with Boehringer Ingelheim and Evotec, of a joint venture whose mission is to create the next generation of antibiotics as well as effective diagnostic solutions to fight against antibiotic resistance.
Air France-KLM announces the signing of an agreement with CFM International, the joint venture between GE Aviation and Safran Aircraft Engines, for the acquisition of 200 LEAP 1-A engines for its future fleet of Airbus A320neo and A321neo.
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