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AOF France/Europe closing analysis – The markets are off to a happy weekend

(AOF) – European stock markets offered a rebound on Friday, to complete a volatile week. After a week of uncertainty, marked once again by the war in Ukraine, the health situation in China and inflation, investors sought to take advantage of cheap redemptions. They were bolstered by the possibility of an easing of health measures in China and by industrial production in the euro zone that was less bad than expected. The CAC 40 was thus awarded an increase of 2.52% to 6,362.68 points, while the Euro Stoxx 50 gained 2.47% to 3,702.55 points.

Deutsche Telekom climbed 2.16% to 18.34 euros in Frankfurt, in the wake of its quarterly publication. The leading European telecom operator recorded revenue growth of 6.2% in the first quarter of 2022 to 28 billion euros, with a profit multiplied by 4, to 3.95 billion euros, thanks to the sale of T -Mobile Netherlands. Adjusted EBITDAaL, a key indicator in the sector, stood at 9.9 billion euros, up 6.8%, and is now expected at 36.6 billion for the full year , against 36.5 billion previously.

Badly oriented early in the morning, Orpea ended up 2.93% to 34.81 euros per share. At the heart of the scandal since the publication of the book “Les Fossoyeurs”, the operator of Ehpad today took stock of its financial situation. The group is facing major financing challenges due to its investments for the development of its real estate portfolio and a significant debt schedule.

Eutelsat rose by 4.95 in Paris, to 11.03 euros per share, after the publication of its quarterly turnover. The satellite operator experienced in the third quarter of its 2021-2022 financial year a decline in its activity of 4.8% over one year (-2.7% on a comparable basis) to 286.8 million euros. Revenue from the five operating activities amounted to 285 million (-3.5% on a like-for-like basis), excluding a negative scope effect of around 3 points related to the sale of Euro Broadband Infrastructure (EBI) on April 30, 2021 and a positive currency effect of around 3 points.

The macroeconomic figures of the day

Industrial production fell 0.8% in March, month on month, while analysts expected a decline of 1%. The previous month, it had decreased by 1.7%. Over one year, production fell by 1.8% (against +0.5% in February), which again remains above expectations (-2%).

In the United States, the consumer confidence index measured by the University of Michigan came out, as a first estimate for the month of May, at 59.1. Economists were counting on 64 after 65.2 in April.

Around 5:55 p.m., the euro regained 0.26% to 1.0410 dollars.


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