Morning meeting AOF France / Europe – Downturn in sight before the PMIs – 06/23/2022 at 07:49

MARKET POINT-New drop in sight in Europe to start the week (updated) - 05/09/2022 at 08:43

(AOF) – European equity markets are expected to fall at the opening in the wake of Wall Street. The Asian places finished, they, in dispersed order. Yesterday Jerome Powell confirmed his desire to curb inflation and felt that the US economy was strong enough to withstand rate hikes. An analysis that does not seem to be shared by investors, as evidenced by the decline in equities, rates and oil. The markets will react to a salvo of indicators and in particular the publication of the provisional results of the activity surveys of purchasing managers.

The values ​​to follow today

Bluelinea

Bluelinea announced the launch of a capital increase with maintenance of shareholders’ preferential subscription rights (DPS), for an amount of 7.1 million euros. This capital increase will be used to strengthen the company’s financial structure, in particular by securing the repayment of all financial debts, made up almost entirely of PGE, which amounted to 3.992 million as of December 31, 2021, and a increase in cash to cover the working capital requirement linked to business growth (+51% in the 1st quarter of 2022).

Fountaine Pajot

Fountaine Pajot presented its accounts for the first half of 2021/22. Net income, group share improved sharply to 5.655 million euros against 536,000 euros a year earlier. Exceptional items with no cash effect had impacted the net income group share for the first half of 2020/21. The gross operating surplus stood at 12.9 million euros, against 13.2 million euros a year earlier, “impacted by inflationary pressures on raw materials and supply difficulties”.

Capgemini

Capgemini has announced the appointment of Steffen Elsaesser as Chief Transformation Officer and member of the Group Executive Committee, effective July 1, 2022. In this role, he will be responsible for designing and implementing some of the key transformation programs of the group. Steffen Elsaesser will report to Aiman ​​Ezzat, CEO of Capgemini.

INEA property

Foncière INEA has announced the success of its capital increase for a gross total amount of 107.3 million euros. It will allow the real estate group to finance its growth by financing new investments with a view to achieving the objective announced at the end of 2021, namely a portfolio worth 2 billion euros by the end of 2026. ” This capital increase is the largest in the history of the group”, underlined the CEO, Philippe Rosio.

Macroeconomic figures

In France, the business climate in June is expected at 8:45 a.m.

The purchasing managers’ indices in the manufacturing and services sectors in June are due for France at 9.15 a.m., for Germany at 9.30 a.m. and for the euro zone at 10 a.m.

In the United States, the weekly jobless claims will be published at 2:30 p.m. The PMIs for the manufacturing and services sectors in June will be announced at 3:45 p.m.

Around 7:45 a.m., the euro gained 0.02% to 1.0569 dollars.

Yesterday in Paris

European markets ended lower, but pared their losses from the day’s low. The day got off to a bad start as more and more economists are anticipating a recession due to the tightening of monetary policies intended to curb inflation. The good news came from the United States in the form of a hearing of Jerome Powell before Congress, which did not hold any unpleasant surprises. The CAC 40 index closed down 0.81% at 5,916.63 points and the EuroStoxx50 lost 0.77% at 3,467.21 points.

Yesterday on Wall Street

Wall Street finally ended a volatile session down slightly due to Jerome Powell’s congressional hearing. On the bond market, the reaction is spectacular. The yield of the 10 US, at equilibrium until then, collapsed. It fell nearly 13 basis points to 3.156%. Technology and growth stocks, which are more rate sensitive, reacted well. The Fed Chairman notably assured that the pace of rate hikes will depend on the economic outlook. The Dow Jones and the Nasdaq fell 0.15% to 30,483.13 points and 11,053.08 points respectively.

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