(CercleFinance.com) – After signing an increase of 1% yesterday, the Paris Stock Exchange continues its momentum and gains almost 0.9%, around 8150 points, supported by Axa (+2.3%) , Schneider Electric (+2.2%) and Vinci (+2.1%).
On this anniversary of May 8, 1945, the market is abandoned by operators with barely 1.1 billion euros exchanged since the opening, which does not prevent the Parisian index from slowly approaching its closing record reached at the end March, beyond 8250 points.
In this context, Swiss asset manager Pictet AM announced yesterday that it had raised its recommendation on European stocks from ‘neutral’ to ‘overweight’, which it considers increasingly attractive.
From his point of view, the re-acceleration of activity should allow companies to exceed the results forecasts established by consensus this year.
However, volumes should remain limited this Wednesday due to the absence of some French investors, Victory Day 1945 being a public holiday in France.
As for the rare indicators on the agenda, production in German industry fell by 0.4% in volume in March compared to the previous month, according to data adjusted for seasonal and calendar variations from Destatis.
‘The new contraction in March is a reminder that the German economy remains struggling’, judges the London office, for which ‘industrial production will further increase a little during the year, but will remain moderate compared to past standards’.
In the bond sector, the easing of rates continues in the United States and in Europe, with the yield on ten-year American Treasuries returning to around 4.46%, while the German Bund is stabilizing around 2.43%.
In French company news, Alstom announced that it had recorded a strong rebound during the second half of the year, with solid order intake, strong organic growth, improved profitability and free cash flow generation of €562 million. euros.
The biopharmaceutical company Medincell announced on Wednesday that it had requested the suspension of the trading of its shares on Euronext Paris pending the publication of a press release. This decision comes as its stock price has soared by more than 106% since the start of the year, a surge due to the success of its long-acting injectable products.
Michelin announces that it has carried out a bond issue denominated in euros for a total amount of one billion euros in two tranches of seven and 12 years, with coupons of 3.125% and 3.375% respectively.
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