Morning Meeting AOF France / Europe-Recession Seems, Fed More Aggressive-March 22, 2022 08:30

(AOF) – European stock markets are expected to fall at the opening, triggered by Wall Street. Investors are sticking to news from the Ukrainian front and retaliation from Westerners in an attempt to influence Vladimir Putin’s position. They will respond to Jerome Powell’s positive remarks on inflation. During the meeting, the Fed’s chair strengthened his speech three weeks after the last meeting of the Monetary Policy Committee. We no longer eliminate large and rapid rate hikes to counter rising prices.

Value to follow today

Liquid air

Air Liquide announces Advance, a new strategic plan for 2025 that combines “financial and non-financial performance”. From a financial performance perspective, industrial gas experts have set three goals. Accelerate sales growth at an average annual rate of 5-6%. Return on capital used (ROCE) above 10% from 2023. Reduction of CO2 emissions in absolute value after 2025.

Covibio

Covivio announced through its subsidiary Covivio Hotels that it has signed a memorandum of understanding with B & B Hotels regarding the resale of 31 hotel businesses in France after the acquisition from AccorInvest. Already owned by Covivio and branded by the Accor Group (Ibis, Novotel, Mercure), these 31 hotels (2,565 rooms) have previously signed variable leases to Accor Invest. Following the signing of the protocol, Covivio and the B & B Hotel have promised a new 12-year fixed rent lease.

Vinci

Olympia Odos, a 29.9% subsidiary of VinciConcessions, has signed an extension of the highway concession between Athens with Corinth and Patras with Greek authorities. This is related to the extension of the highway and is the town of Pyrgos located west of the Peroponese Peninsula. The project’s funding, equivalent to an investment of € 331 million, will include a contribution of € 217 million from Greece, the rest of which will be financed by a bank loan with a maturity of nearly 15 years.

Stream wide

Streamwide reveals that the 2021 results have improved significantly, thanks to strong growth and good cost control. Net income was up 25% to € 4,097,000 and current operating profit was up 22% to € 4.91 million. Revenues increased by 20% to € 16.72 million and costs increased by 16%. Net cash was € 5.4 million (excluding rental liabilities).

Macroeconomic figures

No major indicators are expected.

At around 8:30 am, the euro fell 0.48% to $ 1.0970.

Yesterday in paris

The European stock market started the week with careful notes. Investors remained alert as the war intensified in Ukraine and negotiations between the parties to the war were delayed. In this regard, the European Union plans to take new sanctions against Russia. The index did not recover in a 5 pm speech by Federal Reserve Chairman Jerome Powell. With the bell sound, CAC 40 was down 0.57% to 6,582.33 points and Euro Stoxx 50 was down -0.35% to 3,888.59 points.

Yesterday on Wall Street

Wall Street fell on Monday. The index marked the time after an impressive rebound last week. The outlook for a ceasefire in Ukraine has receded as Russia continues to attack. In addition, the Fed was surprised. At one meeting, Jerome Powell suffered from inflation and opened the door to raise the central bank’s key policy rate by 50 basis points as needed. These statements favored long-term interest rates and the dollar. The Dow Jones fell 0.58% to 34,552.99 points. Nasdaq was down 0.4% to 13,838.46 points.

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