(CercleFinance.com) – The Paris Stock Exchange (+3.8% to 6,018) recrossed the 6,000 mark!
Investors have switched in 48H from despair (‘extreme fear’) to ‘FOMO’ (or ‘panic on the rise’) mode: the CAC40 recovers +370Pts in less than 48H with a funicular rise of +6.3% in 10 hours of quotations taken continuously, with a zenith recorded at 6.025 this Tuesday around 4:45 p.m.
The Euro-Stoxx50 also gained +3.9% towards 3,470 and largely outpaced the London stock market which only gained +2%.
“European stocks rose on Monday, mainly driven by the energy sector, which was boosted by expected OPEC production cuts,” Liberum said.
Wall Street is also up sharply (+ 2.5%) and doubles the bet after its rally the day before (+ 2.5% Monday evening), and up to + 3.4% for the Nasdaq at 11,180 .
Today, it is the usual stars of the rating, luxury stocks which monopolize the increases at +4/+6% (from Hermès to Esssilor), followed by aeronautics (Airbus +5.5%) and manufacturers of electrical equipment.
In terms of daily statistics, orders to US industry remained stable in August (at $548.4 billion) according to figures published by the Commerce Department.
For their part, industrial deliveries posted a 17th monthly increase over the last 18 months, with an increase of 0.5%.
Given the very slight fall in inventories (-0.1%), the inventory-to-delivery ratio was virtually stable at 1.46 versus 1.47 previously.
In Europe, industrial producer prices (PPI) for the month of August increased by 5% in the euro zone and by 4.9% in the EU, according to Eurostat, sequential rhythms in sharp acceleration compared to those of 4% and 3.7% observed in July.
Bond markets are easing in Europe by -4Pts on average, in the hope that the ECB will start lowering rates again from mid-2023.
Our OATs even erased 5Pts at 2.442%, Bunds -4Pts (at 1.86%) and Italian BTPs -4Pts at 4.1630%).
The T-Bonds are much more euphoric with -22Pts for the T-Bonds towards 3.582%.
This drop in remuneration favors a strong rebound of the Euro by +1.3% towards $0.9950.
Oil climbed 2.5% to $90.9 in London on the eve of the formalization of a drop of -1 million barrels/day by OPEC meeting in Vienna.
On the securities front, Societe Generale announces the appointment of Marie-Christine Ducholet as director of the new retail bank in France, resulting from the combination of the Crédit du Nord and Societe Generale banking networks. To carry out her mission, Marie-Christine Ducholet will be accompanied by Aurore Gaspar Colson and Yann de Nanteuil, appointed respectively deputy director and deputy director of the new retail bank in France.
RTL Group has decided to retain its majority stake in Groupe M6 (-10% to 11.2E). This decision follows a review of strategic options after RTL Group received several attractive offers for its 48.3% stake in Groupe M6.
TotalEnergies and Holcim announce that they have signed a memorandum of understanding to work jointly on the total decarbonization of a Holcim cement plant undergoing modernization in Obourg, Belgium.
Saint-Gobain announced on Monday evening a major partnership with Ecocem, an Irish company specializing in low-carbon cement, aimed at accelerating the marketing of products with a low carbon footprint.
Vinci announced that its subsidiaries have been selected to design and build drinking water supply infrastructure in Uganda, on behalf of the public company National Water and Sewage Corporation.
The real estate group Kaufman & Broad published a net income group share more or less stable at 31.9 million euros for the first nine months of its financial year, as well as a current operating margin of 7.2% for a turnover stands at 885.8 million.
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