After showing its first decline, limited, in seven sessions, the Paris Bourse should move forward in the wake of the good performance of the American markets, Thursday evening, and Asian markets this morning. Caution should nevertheless remain in order as operators attempt to assess the risk of faster-than-expected monetary tightening by central banks to contain inflation.
In New York, the S&P 500 and the Nasdaq Composite finished on new records, driven by good results from companies in distribution, with Macy’s, and technology, with Nvidia.
Alibaba drops 10% in Hong Kong
Conversely, the Hong Kong Stock Exchange fell 1.2% as the close approached, weighed down by Alibaba’s fall of more than 10%, the slowdown in consumption and regulatory pressures weighing on quarterly accounts of the e-commerce giant, which revised down its forecast for 2022. The Chinese CSI, on the other hand, gained 1%, while in Tokyo, the Nikkei 225 closed up 0.5% after the confirmation by the Prime Minister of a plan to support the economy of 490 billion dollars to offset the impact of the health crisis.
Global financial centers are holding onto all-time highs, driven by solid corporate performance despite soaring prices. But inflationary pressures and the specter of closer-than-expected rate hikes cast a shadow over the markets. Raphael Bostic, the chairman of the Atlanta Fed, said Thursday that it would be appropriate to proceed with monetary tightening around the summer of 2022. Observers are also awaiting the appointment of the next chairman of the Federal Reserve. Joe Biden recently spoke with Jerome Powell, current president, and Fed Governor Lael Brainard.
TotalEnergies: assets that are too expensive in renewable energy
TotalEnergys does not make acquisitions of large renewable energy producers because of their excessive valuations, said its CEO. Asked about a possible interest in Engie, Patrick Pouyanné said during an interview as part of “Investir Day”: “ I’m not sure it’s a big producer of renewable energy since, in terms of wind and solar, we’re also (big and) maybe even a little bigger. »
CNP Assurances benefited from the commercial dynamism and the transformation of retirement savings outstandings in France over the first nine months of the year. Net income rose 10% to 1.01 billion euros, and sales jumped 26.3% to 23.6 billion.
Among analysts’ notes, Jefferies raised his target price on Societe Generale from 38 to 42 euros by maintaining its recommendation to “buy”.
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