The rebound on Wall Street confirms that of the Paris Stock Exchange, up more than 1%


Bis repeated. This Friday, as was already the case last week, the Bedroom 40 offers itself a rebound, which will allow it to reduce its weekly losses, which are now limited to a small 0.31% In the middle of the day, the flagship index of the place resumed 1.11%, to 6,340.65 points, but in a meager trading volume of around 2 billion euros. This, despite the ballast of luxury stocks, which weigh for more than 20% of the Cac 40. Penalized by the poor annual results of the Swiss Richemont and its caution on the recovery in China, down sharply by 12% on the Zurich Stock Exchange, Hermes loses 1.43% and LVMH 1.55%.

The rebound on Wall Street provides support. At the start of the American session, the Dow Jones gains 0.79% and the Nasdaq Composite 1.16%. The trend will not be dependent on statistics, none appearing on the day’s program across the Atlantic. This should not prevent the Dow from aligning an eighth week of decline in a row (seven for the S&P 500 and the Nasdaq).

“Headwind Number One”

Markets have had a very difficult time over the past seven weeks, it has a lot to do with concerns about inflation and its implications for corporate margins and what the Fed is going to do on the monetary front. to bring prices under controlexplains Art Hogan, at National Securities. Although this is not new, today it is the number one headwind. »

The good news also comes from China, where the authorities are addressing concerns about a potential sharp slowdown in growth due to the Covid epidemic. The People’s Bank of China (BPC) has thus announced a marked drop in one of its main key rates, in order to revive its economy, damaged by the confinement of the large cities of Shanghai and Shenzhen.

The five-year prime loan rate, which serves as a benchmark for the Chinese mortgage market, was lowered by 15 basis points to 4.45%. This is the biggest decrease since the overhaul of the BPoC’s interest rate system in 2019. Economists had expected a drop of just five to ten basis points. ” While that certainly won’t be enough to counter all of the headwinds dampening second quarter growth, it’s a step in the right direction and markets are reacting in anticipation of perhaps further easing to come. commented Carlos Casanova, UBP’s senior Asia economist in Hong Kong to Reuters.

Second good news for Air France-KLM

Among other values ​​in the news, Air France-KLM (+2%) is again at the heart of the news. Two days after the announcement of a long-term strategic partnership with the Marseilles shipowner CMA CGM, the air carrier indicated, this Friday, to have entered into exclusive discussions with Apollo Global Management for the injection of 500 million euros of capital in an operational subsidiary of Air France, owner of a fleet of spare engines dedicated to its engineering and maintenance activity. ” The proceeds of the transaction would allow Air France-KLM and Air France to partially reimburse the perpetual obligations of the French State, in accordance with the Temporary Framework for State Aid Measures “of the European Commission” aimed at supporting the economy in the current context of the Covid-19 epidemic, and would also facilitate the financing of the future acquisition of spare engines necessary for the ongoing renewal of the Air France aircraft fleet “, emphasizes the group.

Valneva takes another 4%, the day after a surge of 16.8% when the European Medicines Agency (EMA) announced that it had accepted the file for the anti-Covid vaccine from biotech.

Vallourec benefited from a favorable rating from Oddo BHF, which raised its target price on the title of the manufacturer of seamless tubes to 16.50 euros.




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