The Cac 40 is recovering, focus on the results of Gafam with Alphabet and Microsoft, Market news

The Paris Stock Exchange is back in action after closing at a six-week low the day before. Particularly proven on Monday by fears about the Chinese economy, the major cyclical stocks are recovering thanks to the decline in the euro, which is trading at a two-year low (March 2020) at less than $1.07. Airbus thus takes 1.8% and Saffron 4%, the two groups invoicing in dollars while their costs are in euros. Saint Gobain rose for its part by 3.6% supported by a note from Kepler Cheuvreux, which went from “hold” to “buy” on the title.

The market is also preparing for the publication of the quarterly accounts of the Gafams, which are particularly sensitive to changes in interest rates while the trend is towards monetary tightening by the major central banks. Microsoft and Alphabet open the ball after the close of Wall Street, Meta (ex-Facebook) will follow tomorrow, before Apple and Amazon on Thursday. At the European level, the 19 Stox 600 sector indices are in the green, starting with that of basic resources which resumed 2%, after its fall of 6% on Monday, ArcelorMittal thus recover 1.5%.

At 2:45 p.m., the About 40 gained 1% to 6,513.90 points in a business volume of 1.4 billion euros. The contracts futures contracts June on US indices between 0.5% and 0.6%.

More than 20 million people tested in Beijing

The CSI 300 of the main stocks listed in Shanghai and Shenzhen recovered up to 1.5% on Tuesday before ending on a replica of 0.8% the day after a plunge of nearly 5%. The market took note of the decision of the People’s Bank of China to reduce by 100 basis points the rate of compulsory foreign exchange reserves of commercial banks. The central bank is also committed to promoting a stable and healthy orientation of the financial markets.

The decision comes alongside a policy of health restrictions reflected in the confinement of several major cities to curb the spread of Covid-19 infections, which could apply to the capital Beijing where authorities are working to test some 22 million. of inhabitants. This Damocles Sword is clouding the economic outlook and affecting market sentiment.

Orange confirms, Faurecia warns

Orange gain 1%. The operator confirmed that it is aiming for an increase in its restated adjusted gross operating surplus (Ebitdaal) on a comparable basis in 2022, while this indicator, as expected, increased faster than turnover in the first quarter. However, this is in line with expectations.

Crossroads appreciates by 1.8%, Bernstein went from “underperformance” to “online performance” on the title of the distribution giant.

M6 gains 1.9%. The television group announced quarterly results up but still below their level before the health crisis. In the first quarter, turnover increased by 8.7% over one year, to 322.5 million euros. Advertising revenue grew by 5.3% over one year, to 252.2 million euros. The group’s consolidated current operating income (Ebita) reached 67.2 million euros in the first three months of 2022, compared to 64.3 million euros in the first quarter of 2021.

Faurecia gives up 3.7%. The automotive supplier has issued the first serious warning and is being very cautious about the development of automotive production in 2022. It is suspending the payment of the dividend and reporting its capital increase.

Orpea loose 6.1%. The Ephads manager announced the publication of the first results of the independent external audits and the report of the presentation of its annual results, currently being audited, as of May 13.

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