(AOF) – European stock markets advance cautiously on Thursday, as Wall Street will remain closed due to Thanksgiving. The meeting therefore took place calmly, even if the fears surrounding the health situation on the Old Contains and on inflation have not disappeared. Yesterday, the minutes of the last Fed meeting revealed that several members of the executive board voted in favor of a faster-than-expected rate hike if inflation persisted. The ECB will publish its own report today. The CAC 40 gained 0.2% to 7,055 points, and the Euro Stoxx 50, 0.2% to 4,285 points.
Generali moves against the current of the Milan stock exchange, yielding 0.41% to 18.33 euros, while its benchmark, the FTSE MIB, on the contrary clusters 0.06%. 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 10% to 206.80 euros after having reached a record earlier at 209.8 euros. 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 gained 3.5% to 99.8 euros, supported by 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 will remain closed Thursday due to Thanksgiving.
Around noon, the euro gained 0.16% to 1.1220 dollars.
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