AOF analysis closes France / Europe – Europe’s stock market progresses calmly

(AOF) – European stock markets advanced slowly but surely, as Wall Street was closed for Thanksgiving. The session therefore remained calm while fears around covid and inflation have not disappeared. Yesterday, the Fed’s “minutes” revealed that several members of the executive board voted in favor of a faster rate hike than expected if inflation persisted. At the ECB, on the contrary, a rate hike in 2022 has been ruled out. The CAC 40 thus gained 0.48% to 7,075.87 points, and the Euro Stoxx 50 rose 0.37% to 4,292.01 points.

Generali underperformed the Milan stock exchange, losing 0.35% to 18.34 euros, while its benchmark, the FTSE MIB, fell 0.12%. The Italian insurer announced last night that it had entered into exclusive negotiations to acquire La Médicale, the insurance subsidiary for healthcare professionals of Crédit Agricole Assurances. The information around this operation had been revealed a few days ago by the Bloomberg agency. For its part, Reuters, citing anonymous sources familiar with the matter, mentioned a valuation of La Médicale of 400 million euros.

Rémy Cointreau jumped more than 13% to 212 euros, a record at the close. In the wake of the cognac producer, Pernod Ricard grew by 2%. Investors welcome the exceptional half-year results unveiled this morning by the family group. The Charente house is fully benefiting from the growing enthusiasm of consumers around the world, especially Chinese and Americans, for its top-of-the-range eaux-de-vie. It is thus reaping the benefits of its specialization in luxury cognac (88% of its current operating profit), the most profitable.

LDC ended in equilibrium at 96.40 euros, despite the publication of solid half-year results. The French poultry champion, owner of the Le Gaulois and Loué brands in particular, has managed to offset the inflation of raw materials through price increases. Over the first six months of its 2021 financial year ended at the end of December, the group achieved a net profit of 80.1 million euros, up 20.3%. Current operating income rose 14.9% to 103.1 million. Midcap Partners was counting on 98.4 million.

Today’s macroeconomic figures

In Germany, GDP growth in the third quarter was revised down to + 1.7% against + 1.8% in the first estimate.

Wall Street is closed Thursday due to Thanksgiving.

Around 5:45 p.m., the euro gained 0.10% to $ 1.1213.