(CercleFinance.com) – The CAC40 ended the session with a gain of 1.76% to 4771.39 points after a series of economic indicators in France and the United States.
The major US equity indices are starting the session in the green in the wake of a battery of macroeconomic data. The Dow Jones gained 0.7% while the Nasdaq posted a gain of 1.2%.
“The European Commission wants to mobilize 750 billion euros for the European recovery, Italy to receive the lion’s share of 172 billion,” said Commerzbank, who also points to recent encouraging statistics across the Atlantic.
In terms of statistics, the number of job seekers registered with Pôle emploi in category A in France (excluding Mayotte) recorded its largest increase in April 2020 with +843,000 compared to March (+22.6%) according to the Dares. It has established itself at its highest level since the beginning of 1996 (4,575,500). Over three months, 1,065,200 additional job seekers are registered in this category.
American GDP appears to fall by 5% on an annual basis in the first quarter of 2020, according to the second estimate of the Commerce Department, where economists anticipated on average a confirmation of the initial estimate, which was 4.8%.
The Commerce Department reports a 17.2% plunge in durable goods orders in the United States in April 2020, where the consensus anticipated a decline of 18%, after a contraction of 16.6% the previous month (-14.2% initial estimate for March).
The United States Department of Labor announces that it counted 2,123,000 new registered unemployment benefits last week, compared to 2,446,000 the previous week (2,438,000 in initial estimate).
On the securities front, Publicis announces that its general meeting has approved the payment of a dividend of 1.15 euros per share, in accordance with the proposal presented by the management board to reduce the dividend initially envisaged by 50%.
Capgemini and Audi announce the launch of their XL2 joint venture: created at the end of April, it provides digital technologies and consultancy services around SAP S / 4HANA and the cloud, Audi and the entire Volkswagen group should be the primary beneficiaries.
Moody’s downgraded its credit rating on Renault from ‘Ba1’ to ‘Ba2’, with a outlook changed to ‘negative’, following a review in anticipation of a possible downgrade that the rating agency has started on March 25.
Renault has announced that Nissan is contributing -3,573 million euros to the group’s results for the first quarter of 2020. Nissan today published the fourth quarter results for its 2019/2020 fiscal year covering the period from the 1st April 2019 to March 31, 2020.
Goldman Sachs Equity Research confirms this Thursday its recommendation ‘Purchase’ on the title Alstom, believing that concerns about the rail sector would be unjustified. This confirms its target price of 47 euros, with an upside potential of + 19.1%.
Credit Suisse notes its recommendation on the Thales Neutral value (against underperformance). The analysis office slightly revises its 2021e-2023e estimates and increases its target price to 78 E (against 75 E).
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