Paris: stable but mid-day take-off of telecom values


The Paris Bourse ends on a symbolic gain of 0.07%, to 5.313, the outcome of a particularly flat session where the CAC40 would have fluctuated closely between 5.299 and 5.32 …

The Paris Bourse ends up on a symbolic gain of 0.07%, at 5.313, the outcome of a particularly flat session where the CAC40 would have fluctuated closely between 5.299 and 5.322. Among our neighbors, London yields -0.9%, Frankfurt -0.45% while the US indices are certainly up at mid-session but less than expected (+ 1% for the Dow Jones, +0.8 % on the S & P500 and Nasdaq). As usual, gains on Wall Street accelerated after the close of European markets (which were moving in the opposite direction: -0.2% on the Euro-Stoxx50 to 3.441). After the joint strikes conducted by the United States, the United Kingdom and France this weekend (on targets not of major strategic interest), investors are wondering about the evolution of relations between Western countries and Russia. The White House has just decreed a new list of sanctions against Russia and oligarchs (we expect the detail), justified by a complicity of use – presumed – by Damascus of an arsenal of chemical weapons. No notable indicator this Monday in Europe, but the market took at 14H30 knowledge of the March retail sales index in the United States which rose 0.6% last month (after -0, 1% in February), then the ‘Empire State’ of the New York Fed for April drops from -6.8Pts to 15.80 (consensus 18.80) after 22.50 in March Business inventories for February rose 0.6%, as in January according to the Department of Commerce, finally the NAHB index of confidence of professionals in the real estate sector down slightly to 69 against 70 (it was expected unchanged ). Will also be published this week, still in the United States, the figure of industrial production for March (tomorrow), the leading indicator of the Conference Board also for March and the index ‘Philly Fed’ for the current month (Thursday) . The ZEW index of the economic sentiment of German investors (April) and inflation (March) in the eurozone will be unveiled respectively tomorrow and the day after tomorrow. ‘Citi’s economic surprise index for the euro zone is the lowest among the G10, which is already widely feared that the peak of growth acceleration in the Union has already been achieved’, enlighten the teams of Saxo Bank. The euro is peeling 0.2% against the dollar at 1.237, while the barrel Brent gets 1.5% to 71.4 $ (this morning it fell -2% to 71 $, proof that the strikes on Syria are considered as a ‘vicissitude’). Finally, on the microeconomic front, the Chargeurs share was up 6.3% following the announcement of a turnover of 144.8 million euros for the first quarter of 2018, with gross growth of 1% and organic 4% (+ 5.7% excluding luxury materials), driven by strong business volumes and continuous optimization of the product mix. New annual record for Eramet (+ 4.1%) who used the 144E in session, sharp rise of Iliad (+ 4.65%), driven by new speculation (recurring) on ​​a merger between its competitor Bouygues and SFR (Altice jumped by + 5.4%) … which increases the value of all operators who are potential targets, as well as that of competitors (Orange took + 1.5%). Marie Brizard drops symmetrically by -8%, following a revaluation of its operating losses in 2017. Especially, the season results will significantly increase this week with the publications in Paris of the first quarter Casino (Tuesday), AccorHotels, Danone (Wednesday), Edenred, FnacDarty, Pernod Ricard, Publicis, Schneider Electric (Thursday) or Faurecia (Friday). In the United States, Bank of America released its quarterly accounts today before the opening of the New York Stock Exchange. Copyright (c) 2018 All rights reserved.


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