CAC40: still green, approaching 7100 points

( – After a brief foray beyond 7100 points in the middle of the afternoon, the Paris Stock Exchange gave up a little ground at the end of the day but nevertheless concluded the session with a gain of 0.48 %, at 7,077 points, notably driven by L’Oréal (+2.5%), StMicro (+2%) and Renault (+1.9%).

The CAC40 thus ignores the decline on Wall Street, where the Nasdaq and the S&P500 lost 0.3%, while the Dow Jones fell 1.1%.

Investors were able to take note of several economic indicators during the day. Thus, manufacturing activity contracted sharply in the New York area, according to companies responding to the local Fed’s Empire State survey in January, the overall index of general business conditions thus falling by 22 points. at -32.9.

Increases in input prices are slowing considerably and those in selling prices are also moderating. Looking ahead, companies expect little improvement in the economy over the next six months.

After a first burst of results on Friday, the big American banks were still in the spotlight today with the accounts of Goldman Sachs and Morgan Stanley announcing respectively a drop of -69% and -41% in their profits.
This morning, the ZEW index of investor sentiment in Germany recovered by 40.2 Pts and is back in positive territory – for the first time since February 2022 – to stand at +16.9 in January.

Overnight, investors learned that China’s GDP only grew by 3% in 2022 (more than 40 years) due to the resurgence of the epidemic in the country. The population is decreasing for the first time in 601 years with just over 9.5 million births but 10 million deaths.

On the bond front, note a drop of -11Pts in the yield of our OATs at 2.53%, -11.5Pts for that of Bunds at 2.8% and Italian BTPs posted -13.5Pts at 3.88 %.

In company news, Technip Energies announces that it has been awarded, in joint venture with Samsung Engineering and Tecnimont, a pre-construction services (PCSA) contract for the onshore infrastructure of the Hail & Ghasha gas development project in Abu Dhabi, United Arab Emirates.

Danone announces a global action plan to reduce methane emissions from its fresh milk supply chain by 30% in absolute terms by 2030, the equivalent of 1.2 million tonnes of CO2 at this horizon.

Thales Alenia Space has signed a contract with Appworks, to provide Thailand with the MEOLUT Next solution for locating distress signals

The European Commission announces that it has authorized the creation of a joint venture between Stellantis and Hon Hai Precision Industry, a Taiwanese company. The joint venture will be headquartered in the Netherlands and will develop semiconductors for the automotive market.

Vinci announces that Vinci Energies has acquired Avanceon LLC, an industrial control and systems integration company in the United States, headquartered in Pennsylvania.

Finally, Safran Helicopter Engines announces that it has signed a contract with Yellowhead Helicopters to support the Arriel engines powering its fleets of AS350 and H125 helicopters.

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