PARIS (Agefi-Dow Jones)–The Parisian market should start the week down, penalized by data indicating that economic activity slowed sharply in China in April.
Around 8:30 am, the futures contract on the CAC 40 index lost 31 points, or 0.5%, according to data from broker IG.
China’s economy suffered a sharp slowdown in April, official data showed on Monday as strict measures put in place to combat the spread of Covid-19 disrupted household consumption and business activity. Retail sales, an indicator of consumption in China, and industrial production fell in April.
On Monday, investors will be watching for new economic forecasts from the European Commission for the European Union and the euro zone.
On the corporate side, Valneva has received from the European Commission a notice of intent to terminate the supply agreement for its Covid-19 vaccine candidate, VLA2001. The biotechnology company also indicated that the United Arab Emirates had granted an authorization for the emergency use of VLA2001.
The car manufacturer Renault has signed agreements relating to the sale of its activities in Russia and confirmed that it would record a charge related to these activities in its accounts for the first half.
The distributor Casino has confirmed that it has launched a process to sell GreenYellow, its subsidiary specializing in the production of renewable energies.
The pharmaceutical laboratory Sanofi has recorded positive results for its drug Sarclisa, in combination with carfilzomib and dexamethasone, in the treatment of patients with relapsed multiple myeloma treated with a proteasome inhibitor.
JPMorgan lowered its recommendation on the title Michelin from “overweight” to “neutral” and its target price from 150 to 140 euros. The financial intermediary also lowered its price target for Faurecia from 60 to 40 euros, for Valeo from 23 to 22 euros, and for Plastic Omnium from 22 to 18 euros.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
May 16, 2022 02:29 ET (06:29 GMT)