AOF France/Europe closing analysis – Early February favorable for the CAC 40

(AOF) – European markets confirmed their good direction on Monday despite US stock markets in poor shape. The day’s economic statistics were particularly numerous and confirm the persistence of inflationary pressures. Investors have nevertheless been reassured by recent less “hawkish” remarks from Fed members, including those of San Francisco Fed President Mary Daly. The CAC 40 index closed with a gain of 1.43% to 7,099.49 points while the EuroStoxx50 rose 0.94% to 4,214.04 points.

In Europe, UBS (+8.04% to 18.48 Swiss francs) easily dominated the Swiss index, SMI, after raising its profitability targets and increasing its share buyback program. This quality publication contrasts with the repeated setbacks of its Swiss competitor, Credit Suisse, which issued a warning last week. “The fourth quarter results are well above expectations, with higher revenues, excellent cost control and a stronger balance sheet” summarizes Jefferies.

The Elis title gained more than 0.50% to 16.18 euros, the day after the publication of the group’s annual turnover. In 2021, the specialist in maintenance and hygiene services nevertheless experienced good growth despite the context: its activity indeed increased by 8.6% to 3.048 billion euros, including + 7.4% organically. . It is even slightly above expectations, since Midcap Partners was aiming for a turnover of 3.009 billion and the consensus was 3.026 billion.

Carmat fell by more than 15% to 14.20 euros penalized by the consequences of the quality problems encountered on two separate components of its Aeson artificial heart. The medtech, which had voluntarily suspended its implantations on December 2, foresees a potential resumption of commercial and clinical implantations in October 2022. “The relatively long delay (11 months) is explained by the time necessary to integrate corrective actions and produce new prostheses,” says Invest Securities.

The macroeconomic figures of the day

Activity in the manufacturing sector slowed very slightly in January in France, according to final data from the research office IHS Markit. The purchasing managers’ index for this sector came out at 55, against a consensus and an initial estimate of 55.5. It had risen to 55.6 in December.

Over one year in France, according to the provisional estimate made at the end of the month, consumer prices increased by 2.9% in January 2022, after +2.8% the previous month. This rise in inflation would result from an acceleration in the prices of energy, services and, to a lesser extent, food. Over one month, consumer prices rose by 0.3%, after +0.2% in December.

In December 2021, the euro area’s seasonally adjusted unemployment rate was 7%, down from 7.1% in November 2021 and 8.2% in December 2020, the report said. Eurostat, the statistical office of the European Union. The European Union unemployment rate was 6.4% in December 2021, down from 6.5% in November 2021 and from 7.5% recorded in December 2020.

Activity in the manufacturing sector accelerated in January in the euro zone, but less than initially announced, according to final data from the research office IHS Markit. The purchasing managers’ index for this sector came out at 58.7, against a consensus and an initial estimate of 59. It had risen to 58 in December.

Activity in the manufacturing sector accelerated in January in Germany, but less than initially announced, according to final data from research firm IHS Markit. The purchasing managers’ index for this sector came out at 59.8 against a consensus and a first estimate of 60.5. It had risen to 57.4 in December.

The number of unemployed fell by 48,000 in January in Germany, whereas a decline of 6,000 was expected. The unemployment rate fell from 5.2% to 5.1% whereas it was expected to be stable.

The ISM manufacturing index came out in January at 57.6 against a consensus of 57.5 after 58.8 in December (revised figure of 58.7).

Construction spending increased by 0.2% in December against a consensus of +0.6% after +0.6% in November (revised figure of +0.4%).

The manufacturing PMI in the United States came out in January at 55.5 against a flash estimate of 55 after 57.7 in December.

Around 5:40 p.m., the euro gained 0.18% to 1.1252 dollars.



Reference-www.capital.fr

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