(CercleFinance.com) – The Paris stock market has just gone back into the red around 4:30 p.m. before recovering towards 7.010, which is 1.% below the highs of the day (7.086 around 10 a.m., the 7.100 seemed within reach ).
Back in negative territory for the E-Stoxx50 (-0.2% to 4,110) while the US indices remain close to equilibrium: the S&P500 and the Nasdaq remain almost unchanged, the Dow Jones grabs +0.2%.
The latest US figures are not favourable: the US trade deficit increased slightly in December 2021, to 80.7 billion dollars, compared to 79.3 billion for the previous month (revised from 80.2 billion in initial estimate), according to the Department of Commerce.
This modest deterioration of 1.8% month-on-month reflects a 1.6% increase in US imports of goods and services, to $308.9 billion, a little stronger than that of exports (+ 1.5%) to 228.1 billion.
Foreign trade is still going badly for France, whose trade balance shows a deficit of 11.32 billion euros for December 2021, compared to a deficit of 9.76 billion the previous month, according to data. CVS-CJO of the customs administration: the annual total results in a record of -84.5 billion euros.
This significant increase from one month to the next reflects a 0.4% drop in French exports, to just under 44.1 billion euros, and above all a 2.5% growth in imports, to more of 55.4 billion.
“As a moving average over three months, the external balance of goods fell again in December 2021 and reached a new historic minimum at -10.7 billion euros”, points out Bercy, who blames the rise in commodity prices, in particular energy.
Investor sentiment seems to fluctuate greatly, going from recklessness to taking into account the next monetary tightening promised by the central banks as well as the risks related to the Ukrainian file.
Bond yields continued to deteriorate on Tuesday: ten-year German Bunds rose by +3Pts towards 0.26%, our OATs towards 0.721%, Italian BTPs flirted with 1.9% (1.885%, that is more of 100Pts since 20/12/2021).
The US ten-year yield also tends around 1.9654%, or +5Pts, which pulverizes the zenith of 1.93%, a 2-year high.
In corporate news, cheap takeovers are finally taking place on Orpéa (+8.5%) and Korian (+3.5%).
Within the CAC40: the defensive France Telecom is in the lead with +2.5%.
BNP Paribas (+0.8%) publishes net income group share up sharply by 34.3% to 9.49 billion euros for 2021, with a 48.8% drop in its cost of risk, to 2.92 billion, and a 7.4% increase in gross operating income, to 15.12 billion.
EDF (+3%) announces that it is adjusting its nuclear production estimate for the year 2022 to a new range ranging from 295 to 315 TWh, against 300-330 TWh in the previous estimate. And adds that its nuclear production estimate for 2023, currently between 340 and 370 TWh, will be adjusted “as soon as possible”.
Finally, Getlink announces that its Shuttle transported 66,875 passenger vehicles in January, an annual increase of 44%. “Even if the activity was able to benefit from the relief of certain travel restrictions, it is still impacted by the pandemic,” he specifies.
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