Morning Meeting AOF France / Europe-Recession Visible Before PMI-June 23, 2022 07:49

(AOF) – European stock markets are expected to fall at the opening, triggered by Wall Street. Asian locations ended in a distributed order. Yesterday, Jerome Powell confirmed his desire to curb inflation and felt that the US economy was strong enough to withstand rate hikes. An analysis that does not seem to be shared by investors, as evidenced by the decline in stocks, interest rates and oil. The market responds to the publication of interim results of the indicator salvo, especially the activity survey of purchasing managers.

Value to follow today

Blue liner

Bluelinea has announced that it will begin a € 7.1 million capital increase while maintaining its shareholders’ preferred subscription rights (DPS). This capital increase will strengthen the company’s financial structure, in particular by ensuring the repayment of all financial debt consisting of PGE ($ 39.92 million as of December 31, 2021) as of December 31, 2021. Used for Working capital requirements related to business growth (+ 51% in the first quarter of 2022).

Fountaine Pajot

Fountaine Pajot has announced an account for the first half of 2021/22. Net income and group share surged from € 536,000 in the previous year to € 5,655,000. Exceptional items with no cash effect affected the share of the net income group in the first half of 2020/21. The total operating surplus was € 12.9 million, compared with € 13.2 million in the previous year, which was “affected by inflationary pressures on raw materials and supply shortages”.

Capgemini

Capgemini announced on July 1, 2022 that Steffen Elsaesser will be appointed Chief Transformation Officer and a member of the Group Executive Committee. In this role, he is responsible for the design and implementation of some of the group’s major transformation programs. Steffen Elsaesser reports to Capgemini CEO Aiman ​​Ezzat.

INEA properties

Foncière INEA has announced a successful capital increase totaling € 107.3 million. This will allow the real estate group to fund growth by funding new investments with the goal of achieving the goal announced at the end of 2021, a portfolio worth € 2 billion by the end of 2026. Will be. “The history of the group,” emphasized CEO Philippe Rossio.

Macroeconomic figures

In France, the business environment in June is expected to be 8:45 am.

The Manufacturing and Services Purchasing Managers Index for June is scheduled for 9:15 am for France, 9:30 am for Germany and 10 am for the Eurozone.

In the United States, weekly unemployed bills will be published at 2:30 pm. The June manufacturing and service industry PMI will be announced at 3:45 pm.

At around 7:45 am, the euro rose 0.02% to $ 1.0569.

Yesterday in paris

The European market has fallen, but has held back losses from the day’s lows. The day got off to a bad start as more economists anticipate a recession due to monetary tightening aimed at curbing inflation. The good news came from the United States in the form of a Jerome Powell hearing before Congress, but with no unpleasant surprises. The CAC 40 index fell 0.81% at 5,916.63 points and the EuroStoxx 50 fell 0.77% at 3,467.21 points.

Yesterday on Wall Street

Wall Street finally ended a few volatile sessions due to Jerome Powell’s parliamentary inquiry. In the bond market, the reaction is spectacular. The yield of 10 US, which had been in equilibrium until then, has collapsed. It fell by nearly 13 basis points to 3.156%. Interest rate-sensitive technology and growth stocks responded well. The chairman of the Federal Reserve Board specifically ensured that the pace of rate hikes depends on the economic outlook. The Dow Jones and Nasdaq fell 0.15% to 30,483.13 points and 11,053.08 points, respectively.

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