French / European AOF analysis – The CAC 40 has remained stable

(AOF) – European equity markets ended close to breakeven. The meeting was particularly quiet in Paris because of the public holiday linked to the National Day. In the macroeconomic chapter, investors hardly reacted to the sharper-than-expected drop in industrial production in the euro zone in May. In addition, the president of the Fed, Jerome Powell, recalled that the employment situation in the United States remained unsatisfactory, which is why the central bank kept its accommodative monetary policy. The CAC 40 remained stable at 6,558.58 points.

Tui sold 6.7% to 322.7 pence in London and 7.09% to 3.774 euros in Frankfurt. The German tour operator, like the tourism and travel sector, has been penalized by fears related to the resurgence of the Delta variant in the world. Latest proof of the deterioration of the health situation, France intends to impose a ten-day isolation period for all people tested positive for Covid-19, according to BFM-TV.

Atos fell 1.19% to 42.35 euros in Paris. This morning, Morgan Stanley lowered its price target on the consulting company from 72 to 38 euros. The American bank reacted to the profit warning launched Monday by the French group. Just over two weeks before the release of its half-year results, Atos warned that its 2021 revenue would be stable at constant exchange rates. The group previously aimed for growth of between 3.5% and 4.5%. The consensus, it was counting on 2.4%

Today’s macroeconomic figures

In May 2021, seasonally adjusted industrial production fell by 1% in the euro area. The consensus was expecting a 0.2% drop. It had risen 0.6% in April. In May 2021 compared to May 2020, industrial production increased by 20.5%.

–