Home Business Mid-session analysis AOF France/Europe – It’s time for caution on the markets

Mid-session analysis AOF France/Europe – It’s time for caution on the markets

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Mid-session analysis AOF France/Europe - It's time for caution on the markets

(AOF) – European markets fell slightly after starting the session up measured. They follow the futures on the American indices, which have fallen into the red. Caution regains the upper hand before the US results. The Composite Purchasing Managers’ Index for the Eurozone signals an unexpected expansion of the private sector in January. This same indicator for the United States is expected at 3:45 p.m. In Paris, Interparfums is subject to profit taking. Around noon, the CAC 40 crumbled by 0.04% to 7,029 points and the EuroStoxx50, by 0.28% to 4,139 points.

Less than 15 days after his warning, Logitech unveiled its final results, which came out in line with expectations. The title specializing in computer peripherals (mouse, headphones, etc.) gained 1.30% to 52.82 Swiss francs, ranking among the main increases in the Swiss index, SMI. “Weak demand from consumers and businesses impacted results,” UBS said. As a positive point of this publication, the analyst underlines a demand from the final consumer much higher than expected.


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Interparfums fell on the Paris stock market (-1.29% to 61.40 euros) after recording sales growth of more than 60% to 192.6 million euros in the fourth quarter. This strong increase enabled the group to post an annual turnover of 706.6 million euros, up 26%, achieving another record year in 2022. This good performance is not a surprise. for the market, as the perfume maker raised its revenue target earlier this month. He was aiming for sales between 705 and 710 million euros, an increase of more than 25%.

Eurobio Scientific gained 6.09% to 18.46 euros, The French group specializing in in vitro medical diagnostics yesterday presented consolidated annual turnover as of December 31, 2022 of 152.5 million euros, down 17%. Revenues are up 15% on its core business excluding COVID to 93.4 million. Exceptional Covid-related activities brought in 59.1 million, down 42%. Covid activity now represents only 39% of consolidated turnover (compared to 56% in 2021), in a market marked by a sharp drop in sales prices and test volumes.


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The macroeconomic figures of the day

The contraction of the French private sector amplified in January contrary to expectations, indicated S&P Global. The Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, came out at 49 against a consensus of 49.5 and 49.1 in December. In detail, the services PMI fell from 49.5 to 49.2 between December and January and was expected to be 49.8. It is at a 22-month low. The PMI for the manufacturing sector rose from 49.2 to 50.8 between December and January and was expected to be 49.6. It is posting a 7-month high.

The business climate in France remained almost stable in January, as since September 2022, indicated INSEE. The indicator that summarizes it, calculated from the responses of business leaders in the main market sectors, lost 1 point compared to December. At 102, it remains slightly above its long-term average (100).


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According to business leaders surveyed in January 2023, the business climate in the manufacturing industry is improving slightly, for the second month in a row, INSEE said. At 103, the synthetic indicator is above its long-term average. “The balances of opinion on the evolution of past production and on foreign order books contribute to the rise in the synthetic indicator”, explained the national statistics institute.

The euro zone’s private sector returned to growth in January, S&P Global reported. The Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, came out at 50.2 against a consensus of 49.8 and 49.3 in December. In detail, the services PMI fell from 49.8 to 50.7 between December and January and was expected to be 50.2. It is at a 6-month low. The PMI for the manufacturing sector fell from 47.8 to 48.8 between December and January and was expected to be 48.5. It is at a 5 month high.


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Germany’s private sector contraction was broadly in line with expectations in January, S&P Global said. The Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, came out at 49.7 against a consensus of 49.6 and 49 in December. In detail, the services PMI fell from 49.2 to 50.4 between December and January and was expected to be 49.6. It is at a 7-month low. The PMI for the manufacturing sector fell from 47.1 to 47 between December and January and was expected to be 47.9.

The Composite Purchasing Managers’ Index for the United States will be released at 3:45 p.m.

This morning, the euro lost 0.11% to 1.0859 dollars.

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