(CercleFinance.com) – The Paris stock market ended the session with a marked decline of 1.33%, to 7,378 points, heavily penalized by the decline in luxury stocks like Hermès (-6.5%), LVMH (-5%) and Kering (-3%).
This morning, investors were able to take note of the HCOB PMI composite index in France. The index signaled further monthly growth in France’s private sector in May, to 51.4. Down from April (52.4), it reflects a slowdown in global expansion, and in particular a slowdown in the services sector.
“This weakening of the expansion was largely the result of a deterioration in demand, the overall volume of new business having fallen for the first time since February”, explain the investigators, who also point to a further decline in confidence.
For its part, the HCOB composite PMI index of overall activity in the euro zone contracted from 54.1 in April to 53.3 this month in flash estimate, signaling a fifth consecutive increase in activity. private sector in the region, but at a slower pace.
Still on the statistical front, the United States Department of Commerce announced a surprise 4.1% increase in new home sales in April, reaching an annualized and seasonally adjusted volume of 683,000, higher than the market consensus.
The previous month, sales had already climbed by 4% (revised figure compared to the +9.6% of the initial estimate). At 433,000, the stock of new homes ready for sale at the end of April represented a supply of 7.6 months at the current flow rate.
The downside is the -15% drop in new housing prices since last October, which is faster than during the 2007/2010 correction episode.
The bond markets show a slightly negative bias with +2 to +3 Pts of return on OATs and Bunds, +1.4 Pts on US T-Bonds at 3.725%.
In the news of values in Paris, Societe Generale (+ 3.9%) – where Slawomir Krupa is to take over as CEO today – announced on Monday evening the finalization of the acquisition of LeasePlan, by its subsidiary ALD mobility services.
Bonduelle announces the appointment of Xavier Unkovic as Chief Executive Officer, an appointment which will take effect on June 1. Until that date, the general management of the agri-food group will be provided by Christophe Bonduelle, chairman of the board of directors.
The French State holds, at the close of its OPAS, 3,908,590,275 EDF shares, i.e. 97.69% of the capital and at least 98.04% of the voting rights, and 130,829,543 OCEANE bonds, i.e. 99.97% of the number of OCEANEs in circulation, according to a press release from Bercy.
This result making possible the implementation of a squeeze-out, the State sent a request to the AMF to this effect in order to be transferred all the securities not tendered to the offer, at the price of 12 euros. per share and 15.52 euros per OCEANE bond.
Finally, Faurecia announces that it has signed a contract to sell to Cummins part of its activities in the field of post-treatment of exhaust gases from utility vehicles in Europe and the United States.
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