AOF France / Europe mid-session analysis – Black Friday for European stock markets

(AOF) – European equity markets are falling in the wake of Asian markets and the prospect of a very difficult recovery on Wall Street. Closed yesterday for Thanksgiving, the American Square reopens this afternoon, but for only half a day. The equity indices are carried away by the fear aroused by the appearance in South Africa of a new variant potentially very contagious and resistant to current vaccines. In the turmoil, values ​​related to health logically draw their pin from the game. The CAC 40 yields 3.7% to 6,815 points and the Euro Stoxx 50, 3.3% to 4,153 points.

In terms of European stocks, Telecom Italia ceded 0.2% to 0.457 euro on the Milan stock exchange, outperforming its benchmark, the FTSE MIB, which is in scarlet red like almost all European stock markets. The day promises to be decisive for the future of the Italian telecommunications operator, since the meeting of its board of directors is taking place today. On the agenda are the latest (disastrous) results of the group, but also and above all the takeover offer of KKR and the future of the CEO, Luigi Gubitosi.

Covid stocks are in the spotlight at the Paris Stock Exchange. And these are the only ones. Eurofins jumped more than 6% to sign the largest increase in a CAC 40 down more than 3.7%. bioMérieux climbs 5.7%, Valneva 8.5% and Sartorius Stedim, which supplies biotechs, 5.7%. Investors believe that manufacturers of tests and vaccines should be overwhelmed with orders with the arrival of the new variant B.1.1.529, “the largest ever detected”, according to Britain. This umpteenth variation of the coronavirus is suspected of being resistant to current vaccines.

After Rémy Cointreau yesterday, it was Laurent Perrier who favorably surprised investors on Friday. The Champagne House earns 1% to 100 euros in a market environment that does not lend itself to the festivities. The independent group has unveiled its 2021-2022 half-year results, which have grown strongly thanks to the gradual lifting of health measures and the gradual reopening of places of consumption around the world.

Today’s macroeconomic figures

In November 2021, household confidence was stable in France. At 99, the indicator that synthesizes it is just below its long-term average (100).

Around noon, the euro gained 0.65% to 1.1281 dollar.