Tuesday, May 24, 2022
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Mid-session analysis AOF France / Europe – The stock markets rebound, the euro is approaching parity

(AOF) – European stock markets are rebounding this weekend, after several consecutive sessions in the red. Investors are thus benefiting from cheap buyouts, reassured by a possible lifting of health restrictions in China and by the recovery of the American indices last night at the end of the session. They may also appreciate industrial production in the euro zone that is less bad than expected. Long rates are on the rise. At mid-session, the CAC 40 thus advanced by 1.4% to 6,292.37 points, while the Euro Stoxx gained 1.25% to 3,658.59 points.

Badly oriented early in the morning, Orpea is now up 2.04% to 24.51 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 repayment schedule.

Eutelsat rose 4% in Paris, to 10.93 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 disposal 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 fallen 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 first estimate of the consumer confidence index from the University of Michigan in May will be published at 4 p.m.

Around noon, the euro lost 0.09% to 1.0373 dollars.

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