AOF analysis closing France/Europe – The ECB less accommodating than expected, Meta and long rates weigh down on tech stocks

(AOF) – European stock markets widened their losses this afternoon; with investors chagrined by the ECB’s less dovish than expected tone. Concerned by the high level of inflation, Christine Lagarde refused to recommit not to raise rates this year. For its part, the Bank of England decided to raise its key rate for the second time in three months. While technology stocks suffered due to Meta and the rise in long rates, the CAC 40 lost 1.54% to 7,005.63 points and the Euro Stoxx 50, 1.79% to 4,146.49 points .

ING unveiled lower profits than expected. Consequently, the action of the Dutch bank lost 2.10% to 13.22 euros, occupying the last place of the AEX index for a good part of the day. In the fourth quarter, net profit rose 30% to 945 million euros and pre-tax profit rose 27.2% to 1.33 billion. The latter came out under the Refinitiv consensus amounting to 1.47 billion euros.

A time at the head of the CAC 40, Publicis finally won an increase of 0.52% to 61.62 euros, after publishing solid annual activity and an excellent fourth quarter. The communication group achieved a turnover of 11.74 billion euros last year, up 8.8% (+10% in organic terms), including organic growth of 9.3% at the end of the year. of year. Growth in the fourth quarter exceeded all expectations since Publicis had announced a range of 4% to 6% and analysts at Oddo BHF were hoping for +8.1%.

Dassault Systèmes may have unveiled solid quarterly results, but its title fell 3.77% to 41.40 euros, one of the worst performances in the CAC 40 index. computer-aided design and manufacturing has also been the bottom of the main Parisian index since January 1, with a decline of around 20%. Technology stocks have suffered in recent weeks – and again today – from tensions in the interest rate market.

The macroeconomic figures of the day

The definitive composite Purchasing Managers’ Index (PMI) compiled by IHS Markit was confirmed at 52.7 for the month of January in France. It was 55.8 in December. Ditto for the PMI in services, confirmed at 53.1, after 57 the previous month.

The composite Purchasing Managers’ Index (PMI) in the euro zone came out at 52.3 for the month of January, according to final data from IHS Markit. It was provisionally established at 52.4, after 53.3 in December. The PMI in services was revised to 51.1, against an initial estimate of 51.2, and after 53.1 the previous month.

In Germany, the composite Purchasing Managers’ Index (PMI) came out at 53.8 for the month of January in final data, while it had provisionally settled at 54.3, according to IHS Markit. It was 49.9 in December. The services PMI was confirmed at 52.2, after 48.7 the previous month.

238,000 jobless claims were registered in the United States during the week of January 29, against a Reuters consensus of 245,000 and 261,000 the previous week, a revised figure of 260,000.

The Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, came in at 51.1 in January, against an early estimate and consensus of 50.8, IHS Markit said. It stood at 57 in December. The services PMI fell to 51.2 from 57.6 in December. It was originally announced at 50.9 for January.

Industrial orders fell 0.4% in December in the United States after rising 1.8% in November, revised from +1.6%. They were expected to fall by 0.2%.

Around 6 p.m., the euro regained 1.08% to 1.1424 dollars.

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