Quelques achats à bon compte, sur des plus bas de deux mois, ont permis un léger rebond du Cac 40

Quelques achats à bon compte, sur des plus bas de deux mois, ont permis un léger rebond du Cac 40

The Paris Stock Exchange regained a little height on Tuesday, thanks to cheap purchases. After a fall of almost 3% yesterday, which followed already three weeks of decline in a row, the Bedroom 40 closed this session with a slight gain of 0.51%, to 6,116.91 points, despite the about-face on Wall Street. The S&P 500 and the Nasdaq Composite fell 0.4% shortly before the close of European markets, while they gained up to 2% and almost 3% respectively in early trade.

Towards a slowdown in inflation in the United States?

Questions about the trajectory of the Federal Reserve’s interest rates have not gone away and market participants will be watching tomorrow’s April consumer price statistics in the United States. Analysts are hoping for a slowdown in the rise to 8.1% year on year, after a 40-year peak of 8.5% in March.

At the same time, the lack of a foreseeable outcome to the conflict in Ukraine and the slowdown in Chinese foreign trade are clouding the outlook for the world economy. Especially since Beijing does not seem to be considering abandoning its “zero-Covid” policy, which is paralyzing many Chinese cities and businesses.

Rebound in luxury, which weighs heavily in the index

The four components of luxury, namely LVMH, Kering, L’Oreal and Hermeswhich fell to the lowest level of the year yesterday (on the announcement of new restrictions in China and the confirmation of the economic slowdown in the world’s second largest economy, a large market for these companies), have greatly contributed to the rebound of the Cac 40 given their weight in the index (about 22%), as well as, in another sector, Airbus.

The aircraft manufacturer, which announced that it received 98 new orders in April and delivered 48 planes, rose nearly 1% today. Societe Generale raised its recommendation on the stock from “hold” to “buy” and raised its target price from 126 to 132 euros.

Buy analysts

Euroapi (+5%) was again sought after, the brokers recommending the purchase of the title of the specialist in active pharmaceutical ingredients. Deutsche Bank, which highlights the group’s leading position in a structurally growing market, has started monitoring the “purchase” value to aim for 20 euros. Exane BNP Paribas and Oddo BHF have initiated coverage of the “outperforming” share.

Stellantis gained 1% while Berenberg is buying the stock. Apart from the Franco-Italian manufacturer, it is “purchase” on BMW and General Motors, and “keep” on Ford, Volkswagen, Tesla and Renault.

Among other analyst notes, Stifel began coverage ofAlstom to “keep” with a target price of 23 euros. The action of the railway equipment manufacturer appreciated by 1.23%.


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