The Paris Stock Exchange continues to recover, at the same time paring its losses since the beginning of the week. Better-than-expected corporate publications generally allowed growth concerns to be ignored for the time being. Bernstein analysts describe Europe’s strong first-quarter earnings season, adding that 61% of companies reporting so far have beat expectations.
Like yesterday, auto and technology stocks are leading the market, with the Stoxx 600 indexes posting the best sectoral performer with gains of 3.1% and 2.7%, respectively. The good surprise that Meta booked is reassuring at a time when the profits of the American company “High Tech” are closely monitored after the disappointments caused by Netflix and Alphabet. Apple and Amazon will be the last Gafams to publish their quarterly accounts this evening.
mid-session, and Bedroom 40 The turnover increased by 1.66% to 6552.27 points in a turnover of 910 million euros. Contracts future On US indices it rose 1% for the Dow, up 1.6% for the S&P 500 and 2.1% for the Nasdaq 100. Meta, the parent company of Facebook, jumped almost 17% – the stock market after publishing better-than-expected results last night and the announcement of Growth in the number of daily users of the social network is above expectations.
Focus on German inflation and US GDP
Volatility remains high in financial markets due to the uncertainty created by the war in Ukraine, the potential for the Federal Reserve to tighten monetary policy significantly, and the risk of a slowdown in the Chinese economy due to the “non-spreading virus” that is crippling many of the country’s major cities.
So investors will be watching closely, this afternoon, the first estimate of German inflation in April, but especially the GDP of the United States, the world’s largest economy, for the first quarter. The Bloomberg consensus calls for 1% annual growth, compared to 6.9% in the last three months of 2021. A lower-than-expected number could mean a break in the dollar boom.
The US dollar broke through the 130 yen threshold for the first time since 2002, as the Bank of Japan kept interest rates and government bond yields unchanged, against the direction of other central banks. For its part, the euro is trading at $1.0520, the lowest level in 5 years, affected in particular by Gazprom’s suspension of gas supplies to Poland and Bulgaria.
TotalEnergies’ profits tripled
capgemini by 3.8%. SSII confirmed its goals for 2022 after posting an acceleration in its growth in the first quarter. For the current fiscal year, it continues to rely on its sales growth at fixed exchange rates between 8% and 10%, operating margins between 12.9% and 13.1% and on a generation of free organic cash flow exceeding €1.7 billion.
Dassault Systems He earned 4.4% driven by a note from Barclays, which switched from “online overweight” to “overweight” on the title of a 3D design assistance software publisher. Other technology stocks track movement-style Soitec (+ 6.6%), worldline (+4.4%) and STMicroelectronics (+2.3%).
The second weight of CAC 40, total energy He wins by 3.5%. The oil group saw its net income triple to $9 billion in the first quarter. It also plans to increase the volume of its share buybacks to $3 billion in the first half from $2 billion previously. It also announced that it had set aside $4.1 billion in its accounts in connection with the Arctic LNG 2 project in Russia following EU sanctions against Moscow.
Albuma It jumped 15.6%. The renewable energy producer has reached an agreement with private equity firm KKR & Co to acquire it at €50 per share, to which is added a dividend of 84 cents paid in cash. The bid represents a 51.6% premium to the March 7 price, the latest unaffected by market speculation about KKR’s interest in Albioma.
Solutions 30 by 16.2%. The service provider for new technologies reported a decline in its operating profit for the 2021 fiscal year, which ended at the end of March. Gross operating profit shrank 23% to 82.4 million euros and adjusted operating profit by 33% to 40.8 million.