Mid-session analysis AOF France/Europe – The CAC 40 returns above 7,000 points

(AOF) – European markets confirmed their good direction on Monday in the wake of Wall Street. Investors are reassured by recent less “hawkish” remarks from Fed officials. Today’s statistics, inflation in France, but also the purchasing managers’ indices for the manufacturing sector, confirm the persistence of inflationary pressures. Wall Street is expected slightly lower, according to futures. Around noon, the CAC 40 gained 0.96% to 7,066 points and the EuroStoxx50, 0.97% to 4,215 points.

UBS (+6.96% to 18.29 euros) raised its profitability targets and announced the increase in its share buybacks. The Swiss bank ended the year better than expected thanks to the good performance of its main businesses. In the fourth quarter, net profit fell 18% to 1.348 billion dollars (1.2 billion euros), but largely exceeded the consensus amounting to 863 million dollars. He was penalized in particular by a provision of 740 million dollars linked to his conviction in France for tax evasion.

After opening sharply higher, the title Elis gained more than 0.43% to 16.17 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 more than 22% to 13 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.

In the United States, the purchasing managers’ index for the manufacturing sector in January is due at 3:45 p.m. Investors will finally react at 4 p.m. to construction spending in December and the Purchasing Managers’ Index (ISM) for the manufacturing sector in January.

Around 12:00 p.m., the euro gained 0.26% to 1.1261 dollars.



Reference-www.capital.fr

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