Weak rebound for the Cac 40, company releases generally well received, market news

After three retreat sessions that brought him very close to 6,400 points, the bedroom 40 rebounded but ended up 0.48% to 6,445.26 points, below its daily high of 6,474.96 points. The three-color barometer, which briefly turned negative, was slowed down by Wall Street, where the most important indices were Dow Jones and Nasdaq Composite experienced a slump before raising the bar.

The latest results from the big names in American tech leave a slightly sour note. While Microsoft saw its sales and profits rise as much as the market expected thanks to ever-stronger demand for the cloud, Alphabet, Google’s parent company, suffered from the decline in its advertising revenue amid growing concerns about a potential slowdown in global growth. Now operators are wondering about the performance of Meta (formerly Facebook), which will publish its accounts on Wall Street after the market close in late March. In February, the social network’s 2021 results had the market panicking because Mark Zuckerberg’s group lost users in the fourth quarter for the first time in its history.

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The fragile trend in stock markets was again held back by the prospect of sharp monetary tightening in the United States and the euro zone, the recovery of the epidemic in China and Moscow’s use of the energy weapon. Russia’s Gazprom confirmed on Wednesday that it had suspended all of its gas supplies to Bulgaria and Poland, two NATO and European Union member countries, after they refused to make their payments in rubles.

On the French stocks front, the day’s quarterly earnings announcements were generally good. In the automotive sector of tire manufacturers Michelin (+3.62%) demonstrated its ability to pass on the rise in raw material costs to its selling prices during the past quarter, while device makers Valeo (+3.7%) and Plastic Omnium (+2.49%) confirmed their annual targets and voted the opposite opinion Faureciawho issued a warning about his findings.

The specialist for industrial gases in turn Air Liquide (+0.72%) recorded historically high sales in the first quarter, mainly due to rising energy prices related to the war in Ukraine, but also due to a volume effect. She confirmed her forecast for the year. The same goes for the Franco-Italian manufacturer of electronic components STMicroelectronics (+0.52%), benefiting from strong demand for microcontrollers. It compensates for the temporary reduction in activity at its manufacturing site in Shenzhen, China.

Beijing’s zero-Covid strategy has slowed down distribution factories Schneider Electric (-0.64%) in Shanghai, but after a good start, the French electrical appliance manufacturer renewed its financial targets. The group will also sell its activities in Russia (around 2% of sales), which will result in a write-down of the net book value of 300 million euros.

Aside from the flagship index, Ipsen and Manitou are out

world line (+1.94%) renews its forecasts for 2022 and 2024, while the French software champion Dassault systems (+4.68%) increased his ambitions. Instead of a range of 32.7% to 33.1%, a current operating margin of between 33.4% and 33.7% is now being targeted.

While today’s announcements were well received, some companies were disappointed, such as the forklift manufacturer Manitou, whose billings are down 4% as of March 31, or from the family lab ipsen, which is noticing a slowdown in sales of its star product Somatuline. On the stock market, the first fell 11.49%, the second – 12.36%.


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