Home Business Mid-session analysis AOF France/Europe – Markets without a clear direction

Mid-session analysis AOF France/Europe – Markets without a clear direction

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Mid-session analysis AOF France/Europe - Markets without a clear direction

(AOF) – European equity markets are trending down mid-session after better than expected economic indicators yesterday in the United States which revived speculation on the duration of the cycle of rising interest rates. In addition, investors continue to hope for a recovery in the Chinese economy thanks to an easing of the zero Covid policy, with further reductions likely to be announced on Wednesday. In terms of values, ADP shows the largest drop in the SBF 120. Around noon, the CAC 40 yields 0.38% to 6,671 points and the Eurostoxx 50 loses 0.22% to 3,947 points.

In Paris, quadient lost more than 15% to 12.33 euros, posting the largest drop in the SBF 120 index. The group tumbled on the stock market after recording weak organic growth in the third quarter, which forced it to lower its financial objectives for the year 2022. It now expects revenue growth of more than 1% for the current financial year, and a decline in its operating profit (Ebit) “in the low single-digit range”, in organic data.


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ADP posted one of the biggest drops in the SBF 120, losing 13.11% to 128.30 euros, the lowest since the end of October. The airport management specialist announced that Royal Schiphol Group (RSG) had sold its remaining 3.91% stake in its capital as part of an accelerated placement with institutional investors, and that RSG would buy the share of its capital held by ADP for approximately 420 million euros. The sale price obtained by RSG, 133 euros per share, disappoints analysts because it shows a discount of 10% on Monday’s closing price.

Catana Group (+ 4.10% to 6.09 euros) reported a new significant increase of 70% in its operating profit (23.8 million euros, or 16% of its activity) despite the industrial disturbances Operating since more than two years in an unpredictable context (COVID 19 and its confinements, global shortages of components, hyperinflation, war in Ukraine), the pleasure craft specialist recorded a net profit group share of 15.9 million euros i.e. nearly 11% of turnover.


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The macroeconomic figures of the day

Industrial orders rose 0.8% in Germany in October, announced Destatis, the Federal Statistical Office. They were expected to rise by 0.1% by economists polled by Reuters, after -4% in September (revised to -2.9%).

In the United States, the trade balance in October will be known at 2:30 p.m.

Around noon, the euro gained 0.03% to 1.0499 dollars.

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