(CercleFinance.com) – European stock markets remain generally in positive territory this Friday (+0.1% in London and +0.3% in Paris), with the notable exception of Frankfurt which fell by 0.3% in the wake of a strong disappointment caused by SAP.
Indeed, the latter dropped 4% in Frankfurt, despite the publication Thursday evening, by the German software publisher, of a non-IFRS EPS from continuing operations up 12% for the second quarter.
“If profitability is significantly higher than expected, the disappointment on CA Cloud could be badly perceived, especially since management is tightening down the 2023 guidance for this division”, pointed out Invest Securities.
Still on the values front, easyJet gained 2% in London, supported by an increase in recommendation at Stifel from ‘hold’ to ‘buy’, in a note devoted to the European air transport sector.
The only macroeconomic data published this morning, the rise in retail sales in Great Britain accelerated sharply in June to reach +0.7%, thanks in particular to the success of the summer sales campaign.
“Geopolitical and political issues will remain at the center of attention in the coming days, as wheat prices continue to rebound following the escalation between Russia and Ukraine around the Black Sea,” warns Kiplink.
The latter also points to the uncertain outcome of the legislative elections this Sunday in Spain, noting that if the right-wing Partido Popular is a clear winner in the polls, its ability to govern will probably depend on alliances with other parties.
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