European equity markets are expected to rise. In its “Beige Book”, the Fed recognized the acceleration of US growth last night. Investors will be attentive to the final results of the activity surveys among purchasing managers for the month of May in Europe. They will also monitor the ADP survey on private employment in the United States on the eve of the publication of the highly anticipated employment report. In terms of values, Saint-Gobain announced a record operating margin in the first half of the year while Vallourec launched its capital increase.
Technical analysis of the CAC 40
From a graphical analysis point of view, the DayByDay design office observes a new white-bodied candle with a close at the high of the session. This candle reinforces the domination of buyers on the market. The uptrend shows no signs of weakening, so it should continue towards 2000s resistance at 6,590 points. The outperformance of the French index is strong at the moment.
The values to follow today
SAINT GOBAIN
This morning, Saint-Gobain warned that its operating income for the first half of 2021 should clearly exceed the historic level of the second half of 2020. The operating margin for the first half of 2021 should thus reach a new record. Sales for the months of April and May continue to show very good trends, supported by the dynamics of the renovation market in Europe, especially in France, the growth of the construction markets in the Americas and Asia-Pacific, as well as only by pursuing the sequential improvement of industrial markets.
BIOSYNEX
Biosynex announced a turnover at the end of May 2021 of 190 million euros. “This very strong increase in activity is driven by sustained international sales and by the dynamic of PCR and SARS-CoV-2 antigen tests in France,” explained the specialist in rapid diagnostic tests. Self-tests, which were sold to the general public and to local authorities at the start of 2021 in many European countries, also contributed to this growth.
CATANA
Catana lifted the veil on Wednesday evening on the results of the first half (September to February) of its 2020-2021 fiscal year. Thus, the pleasure craft specialist generated net income (group share) of 4.7 million euros over the period (compared to 2 million euros a year earlier), as well as current operating income of 5.8 million euros (against 2.9 million euros a year earlier), resulting in a current operating margin of 12% (against 7% a year earlier).
HOFFMAN GREEN
Hoffmann Green Cement Technologies, a specialist in carbon-free cement, has announced the signing of a contract with Entreprises Nivet to supply Hoffmann Green cements for the ready-mixed concrete (BPE) market. The group will thus supply the concrete plants of its partner, a major player in the manufacture and delivery of ready-mixed concrete, its low-carbon, clinker-free cement. This partnership allows Hoffmann Green Cement to cover the entire Parisian market and the center-west thanks to the seventeen concrete batching plants of Entreprises Nivet distributed among its subsidiaries.
Macroeconomic figures
The final indices of purchasing managers for the services and composite sector in May for France are expected at 9:50 a.m., for Germany at 9:55 a.m. and for the euro zone at 10 a.m.
In the United States, investors will learn about the ADP private sector employment survey in May at 2:15 p.m. Weekly jobless claims and productivity in the first quarter will be released at 2:30 p.m. The purchasing managers’ indices for the services and composite sector in May will be published at 3:45 p.m.
Around 8:30 a.m., the euro gave up 0.16% to 1.2191 dollars.
Yesterday in Paris
The European stock markets continued their good momentum on Wednesday. The sharp decline in retail sales in Germany, however, tempered their enthusiasm somewhat. Tomorrow, a certain wait-and-see attitude could settle in the financial places before the publication on Friday of the monthly report on American employment. This is an indicator closely monitored by the Fed to inform its monetary policy decision-making. At the sound of the bell, the CAC 40 took 0.49% to 6,521.52 points and the EuroStoxx 50 took 0.33% to 4,085.29 points.
Yesterday on Wall Street
US equity markets timidly rose. Energy stocks continued to benefit from rising oil prices. The barrel of WTI has returned to its highest level since October 2018. In terms of values, Zoom, one of the big winners of the pandemic in 2020, unveiled quarterly results and objectives above expectations. The title, deemed well valued, closed almost stable. The Dow Jones gained 0.07% to 34,600.38 points while the Nasdaq rose 0.14% to 13,756.33 points in the wake of lower long rates.
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