Market: optimism prevails in Europe


(CercleFinance.com) – Green dominates overall in European markets (-0.1% in London, but +1% in Frankfurt and +1.3% in Paris), in the wake of the progression of the Dow Jones of New York the night before and Nikkei in Tokyo tonight.

‘Traditional stocks benefited from the solid results of IBM, Abbott and P&G as well as from the fall in long rates’, recalls Kiplink, noting however that this decline ‘did not benefit technology stocks which were swept away by the fall from Netflix’.

Rather reassuring news, the annual inflation rate in the euro zone finally stood at 7.4% in March 2022, against 5.9% in February, according to Eurostat which had announced a rise of 7.5% for last month in quick estimate.

Other data published this morning, the business climate in France deteriorated slightly in April, given the synthetic indicator of INSEE, which lost one point to 106, but nevertheless remained above its long-term average ( 100).

In stock news, Nestlé gained more than 1% in Zurich after the food giant confirmed its annual forecast following a better than expected first quarter, driven in particular by price increases.

ABB jumped 5%, following the Swiss engineering firm’s release of quarterly EPS up a quarter and its 2022 forecast of a firm margin improvement towards its 2023 target of at least 15%. %.

AkzoNobel wins almost 5% in Amsterdam, the chemist’s quarterly publication being considered rather reassuring, even the rise in its prices could not fully offset the soaring costs of raw materials and transport.

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