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Mid-session analysis AOF France / Europe – The rebound is confirmed despite Ifo and Zalendo

(AOF) – European equity markets are rebounding, supported by renewed optimism on Wall Street, expected to rise at the opening. On the interest rate market, it is calm. The yield of the US 10 is almost stable after its fall yesterday. The risk of recession continues to cause investors concern. In this regard, the sharper than expected decline in the business climate in Germany in June is a bad omen, as is the magnitude of the profit warning issued by Zalando. Around noon, the CAC 40 gained 1.73% to 5,985 points. The Euro Stoxx 50 rose 1.14% to 3,475.59 points.

Zalando fell 13.8% to 22.01 euros, penalized by a significant “profit warning”. The German group specializing in online clothing distribution has revised down its forecasts for the second quarter as well as for the full year. The ready-to-wear company points to a deterioration in macroeconomic conditions, marked in particular by the further decline in consumer confidence in Europe.

Nexity gained 2.10% to 25.28 euros, outperforming other values ​​in the real estate sector the day after the announcement of the takeover of the Angelotti group, a specialist in development and real estate promotion in Occitania. This operation is “very strategic insofar as it allows it to significantly strengthen its control of land, a key success factor for developers”, comments MidCap Partners.

The macroeconomic figures of the day

At the end of the first quarter of 2022, public debt in the Maastricht sense stood in France at 2,901.8 billion euros, or 114.5% of GDP.

The Ifo business climate index in Germany came out in June at 92.3 against a consensus of 92.9 after 93 in May.

In the United States, new home sales in May and the University of Michigan consumer confidence index in June will be released at 4 p.m.

Around noon, the euro gained 0.2% to 1.0544 dollars.

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