After signing its first close above 6,500 points since September 2000, the Paris Bourse opened without any real trend. Caution is in fact required in several macroeconomic indicators relating to activity in the service sector on both sides of the Atlantic, as well as to employment in the United States.
At 9:20 p.m. 40 is stable at 6,518.59 points (-0.04%).
Traders and investors take note of the improvement in the economic outlook while questioning the transitory nature of inflationary pressures against the backdrop of the question of a possible premature tightening of the monetary policy of central banks. Philadelphia Fed Chairman Patrick Harker (non-voting member) said on Wednesday that the time has come to ” think about think To the schedule for reducing asset purchases, currently $ 120 billion per month.
The US economy is accelerating, so is inflation
In its Beige Book published yesterday, the US central bank noted an acceleration in the US economy in recent weeks, while a labor shortage and inflationary pressures.
The Federal Reserve is also planning to start the gradual sale of a portfolio of corporate debt bought back as part of the emergency plan launched last year at the heart of the health crisis. These transfers will be made in a ” gradual and orderly in order to reduce the potential risks of negative impact on the functioning of the market The Fed said in a press release.
The US Department of Labor is due to publish the weekly jobless claims figures at 2:30 p.m., while the ADP institute has unveiled a quarter of an hour earlier the statistics of job creation in the private sector last month. The highlight of the week is scheduled for Friday with the official report on employment in the non-farm sector in May. But before that, IHS Markit will publish its final PMI activity index for the services sector for the month of May in the euro zone. The Institute for Supply Management (ISM) will do the same for the United States in the afternoon.
Rémy Cointreau and Saint-Gobain optimistic
All these figures will be analyzed in the light of the recovery and inflationary risks. Adding to these tensions, oil prices continue their march towards new highs of a year and a half at nearly 72 dollars a barrel. Oil inventories fell 5.36 million barrels in the United States last week, according to the trade association American Petroleum Institute (API). The Department of Energy will release official weekly inventory figures at 5 p.m.
Remy Cointreau increased by 3.4%. The spirits group says it anticipates a ” good »Growth in current operating income in 2021-2022, which should nevertheless be affected by the increase in investments in communications and currency effects. Over the 2020-2021 fiscal year, Rémy Cointreau saw its current operating income increase by 12.8% in organic terms to 236.1 million euros, against an increase of 10% estimated at the end of April, and mentioned a solid start for 2021-2022 fiscal year.
Saint Gobain takes up 3.2%. The building materials maker says it expects a record net profit and operating margin in the first half of 2021 as sales in April and May continued to show very good trends. The group is holding its general assembly this Thursday.
Vallourec fell 3.4%. The manufacturer of seamless tubes has announced the launch of a capital increase of approximately 300 million euros with maintenance of the preferential subscription right at a price of 5.66 euros per share.
Orange yields 0.7%. The telecom operator assured this morning that the situation on French emergency numbers (15, 18, 112) would return ” completely back to normal in the next few hours “. These emergency numbers had been affected by a technical incident since Wednesday evening.
Agricultural credit loses 0.6%. Its subsidiary Crédit Agricole Consumer Finance, specializing in consumer credit, announced that it was increasing from 51% to 100% of the capital of SoYou, its subsidiary in Spain created with the banking group Bankia.
Stellantis folds 0.4%. The group’s assembly plants in Belvidere, Ill., Windsor, Ontario, and Toluca, Mexico, will remain closed during the week of June 14 due to the semiconductor shortage in the automotive industry.
Elis takes up 3.2%. HSBC has raised its recommendation on the title of industrial launderer from “keep” to “buy”. For his part, Nokia takes 1.5%, backed by a note from Liberum, changed from “hold” to “buy”.
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