France/Europe closing AOF analysis – The CAC 40 rebounds under the impetus of luxury and technology

(AOF) – European equity markets rebounded after yesterday’s firedamp. Recession concerns, however, continued to reverberate through commodity markets. The barrel of WTI thus lost more than 4% and fell back below 100 dollars. Stocks linked to oil were thus under pressure. The Parisian market, on the other hand, was supported by technology and luxury companies, growth stocks which are benefiting from the relaxation on the interest rate market. The CAC 40 index rose 2.03% to 5,912.38 points and the EuroStoxx50 gained 1.84% to 3,421.34 points.

Just Eat Takeaway soared 13.77% to 1,351.40 pence in London. The title of the Anglo-Dutch giant is supported by the commercial agreement signed with Amazon in the United States. Starting today, Amazon Prime members in the US can sign up for a free one-year Grubhub+ subscription and access unlimited $0 deliveries to hundreds of thousands of restaurants across Grubhub, the American subsidiary of Just Eat Takeaway, throughout the year.

In decline this morning, EDF shares finally closed as the strongest riser in the SBF 120 index thanks to a jump of more than 14.53% to 8.894 euros. The title of the electrician is galvanized by the statements of Prime Minister Elisabeth Borne. On the occasion of its declaration of general policy before the National Assembly, it indicated that the French State intended to hold 100% of the capital of EDF. It currently holds just under 84% of its capital, which it opened in November 2005.

Alstom gained 4.8% to 22.50 euros to sign one of the strongest increases in the CAC 40. Investors welcome the winning of a contract worth 387 million euros in India. The French railway equipment champion will deliver to MPMRCL (Madhya Pradesh Metro Rail Corporation Limited) 56 Movia cars with 15 years of full maintenance for the Bhopal and Indore metros. This project will benefit more than 5.7 million people in these two cities.

The macroeconomic figures of the day

In May 2022, seasonally adjusted retail sales volume increased by 0.2% in the euro area and remained unchanged in the European Union, compared to April 2022, according to Eurostat estimates. the statistical office of the European Union. The Reuters consensus was +0.4% for the euro zone. In April 2022, retail trade volume decreased by 1.4% in the euro area and by 1.3% in the EU.

Factory orders in Germany rose 0.1% in May over one month. Economists had forecast a decline of 0.6% after -1.8% in April (revised from -2.7%).

The index of purchasing managers in the non-manufacturing sector stood at 55.3 in June after 55.9 in May, said the Institute for Supply Management. It was expected at 54.3.

Activity in the services sector slowed in June in the United States, said S&P Global. The Purchasing Managers’ Index (PMI) for this sector fell to 52.7 from 53.4 in May. It was expected at 51.6. The PMI Composite index, which includes services and the manufacturing sector, rose from 53.6 to 52.3 between June and May. The market was anticipating 51.2.

Around 5:30 p.m., the euro lost 0.94% to 1.017 dollars.

The index of purchasing managers (ISM) manufacturing stood at 53 in June against 56.1 in May in the United States. The consensus stood at 55.

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