(AOF) – European equity markets continue to rebound. Wall Street, closed yesterday, is expected to rise sharply at the opening, also on cheap buyouts. However, the acceleration of monetary tightening by the major central banks is causing concern. In this regard, tonight, the central bank of China did not follow the Fed and the ECB by leaving its key rates unchanged. Investors are looking forward to tomorrow’s congressional hearing with Fed Chairman Jerome Powell. The CAC 40 gained 1.7% to 6,019 points and the Euro Stoxx 50, 1.3% to 3,516 points.
Leonardo shares jumped 5.6% to 10.85 euros, easily claiming first place in the Italian FTSE MIB index. The takeover of the Israeli group, RADA, which specializes in tactical radars, highlights the undervaluation of the Italian group present in aerospace, defense and security. The transaction will be carried out in shares only via its American subsidiary, Leonardo DRS.
After having jumped 30% yesterday thanks to the announcement of the entry into its capital of Pfizer, Valneva climbed this afternoon by 16.5% to 11.96 euros. Investors await the conclusions of the monthly meeting of the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) which takes place from June 20 to 23. Valneva is confident that it will get positive feedback from the EMA before the end of June on the temporary approval of its Covid-19 vaccine for the primary vaccination of 18-55 year olds.
Eramet jumped more than 9% to 113.3 euros. The French mining group has signed the sale of its subsidiary Aubert & Duval to a consortium made up of Airbus, Safran and Tikehau Ace Capital. Eramet announced this operation on February 22. Aubert & Duval, the main component of Eramet’s High Performance Alloys division, is in great difficulty due to its dependence on aeronautics. A merger of the specialist in special steels, a strategic activity for France, with Airbus, Safran and Ace Capital makes sense.
The macroeconomic figures of the day
Sales of existing homes in the United States for the month of May are expected at 4 p.m.
Around noon, the euro gained 0.61% to 1.0578 dollars.