After a sharp decline in the start of the week, the Paris Stock Exchange picked up some color on Tuesday, in the wake of the rebound on Wall Street. But the specter of a containment of the city of Beijing continues to weigh on the morale of investors.
At 9:45 a.m., the Bedroom 40 resumed 0.57% to 6,486.10 points in a business volume of 440 million euros.
The CSI 300 of the main values listed in Shanghai and Shenzhen recovered up to 1.5% before ending on a decline of 0.8% the day after a plunge of nearly 5%. The market took note of the People’s Bank of China’s decision to reduce the rate of foreign exchange reserve requirements for commercial banks by 100 basis points. The central bank is also committed to promoting a stable and healthy orientation of the financial markets.
Beijing massively tested
This decision comes alongside a policy of health restrictions reflected by the confinement of several large cities to curb the expansion of Covid-19 infections, which could apply to the capital Beijing where the authorities are testing the population massively. This sword of Damocles is clouding the economic outlook and affecting market sentiment, as is the more restrictive turn taken by the US Federal Reserve, which is set to raise interest rates by 50 basis points in May and June. .
The three major New York indices rebounded at the end of the session on Monday, supported in particular by the takeover of the social network Twitter by Elon Musk for 44 billion dollars, as well as by cheap purchases on technology stocks at the approach of the publications. quarterly reviews of the big names in the sector. Alphabet and Microsoft will open the ball in the evening. Meta Platforms (ex-Facebook), Amazon and Apple will follow on Wednesday and Thursday respectively.
Bernstein positive on Carrefour
Beyond corporate publications, the session will be animated by a series of macroeconomic indicators from the United States, and in particular durable goods orders for March, the consumer confidence index as assessed by the Conference Board for April and March New Home Sales.
M6 takes 1.3%. The television group announced quarterly results up but still below their level before the health crisis. In the first quarter, consolidated sales increased by 8.7% over one year, to 322.5 million euros. Advertising revenue grew by 5.3% over one year, to 252.2 million euros. The group’s consolidated current operating income (Ebita) reached 67.2 million euros in the first three months of 2022, compared to 64.3 million euros in the first quarter of 2021.
Faurecia increased by 1.2%. The automotive supplier has announced that it is postponing its capital increase due to the deterioration of market conditions and suspending the payment of its dividend for 2021.
Orpea down 2.4%. The Ephads manager announced the publication of the first results of the independent external audits and the postponement of the presentation of its annual results, currently being audited, to May 13.
Crossroads rises 2.1%. Bernstein raised his recommendation on the retailer’s stock from “underperforming” to “online performance.”