CAC40: remains the equilibrium, 2 good figures, in Europe and US

published the 16/02/2021

(CercleFinance.com) – (CercleFinance.com) –The Paris Bourse (-0.1 -0.2%) continues to maintain its equilibrium after an acceleration which reached up to + 100Pts the day before. CAC 40 index continues to oscillate closely on either side of 5.785 and does not manage to come back to contact with 5800 points.

The Euro-Stoxx50 is no more inspired and should remain above the ex-resistance of 3,730. The publication of the ‘CVS’ GDP of the Euro zone decreased by 0.6% (and by -0, 4% in the EU) compared to the previous quarter, according to Eurostat flash estimate, which is better than the first (-0.7% and -0.5% respectively).

These declines follow the strong rebound in the third quarter (+ 12.4% in the euro zone and + 11.5% in the EU) and the largest declines since the start of the time series in 1995 in the second quarter (-11, 7% in the euro area and -11.4% in the EU) .Thus, over 1 year, the GDP overall fell by 6.8% in the euro area and 6.4% in the EU.

On the other hand, the ZEW index reflecting the sentiment of German investors came out 71.2 points against 61.8 the previous month, and well above the consensus of 60. If the European Union remains behind compared to the United States or in the United Kingdom, investors continue to hope for an imminent reopening of the economy, which this time could well be final.

As a result, market participants favor stocks linked to tourism, leisure and transport, while also repositioning themselves on the most cyclical stocks exposed to the recovery of activity, such as banks and producers of raw materials. The New York Fed’s Empire State index is up nine points this month to stand at +12.1, a several-month high, as the consensus anticipated a much smaller gain.

The Dollar strengthened slightly (+ 0.15%) and erased the ground lost the day before, 1.2110 / E. On the stock side, TechnipFMC announces the completion of its split transaction aiming to create two leading companies in the sector, independent and quotations on the stock exchange, TechnipFMC and Technip Energies, the quotation of the latter’s shares began on Tuesday. Technip Energies wiped out the -40% discount by gaining + 39% 12.5E. Michelin sales (perfectly stable stock, like the CAC) amount to 20.46 billion euros in 2020, a decline of 15% compared to the previous year (24.13 billion euros) due to a contraction in sales in the automotive industry, the road transport as well as the associated specialty and distribution activities.

The group’s net income amounted to 625 million euros, down 63% compared to 1.73 billion in 2019.Saint-Gobain (-0.5%) completed the sale of Sanigrif, its activity in Spain. distribution of plumbing, sanitary and heating products, as well as the sale of Saniplast, its material distribution activity for civil engineering works. Copyright (c) 2021 CercleFinance.com. All rights reserved.

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