(AOF) – The rebound in European equity markets accelerates as we approach mid-session, without however compensating for Friday’s drop. Securities are primarily supported by cheap redemptions. Investors are awaiting information on the Omicron variant and especially on the effectiveness of current vaccines for this new strain which poses a “very high” risk to the world, according to the WHO. In terms of values, the automotive equipment sector is penalized by Faurecia’s profit warning. The CAC 40 gained 1.24% to 6,823 points and the Euro Stoxx 50: 1% to 4,131 points.
In London, BT, after having jumped by more than 9%, only gained 5.3% to 161.1 pence. In the early morning, the headline jumped on press information that Indian conglomerate Reliance Industries is considering an offer to acquire the British telecoms operator. But Reliance has just denied this information.
In Paris, Faurecia lost 6.8% to 37.61 euros, taking the rest of the sector (-2.6% for Plastic Omnium, -1.5% for Valeo) in its wake. The French automotive supplier has adjusted its 2021 objectives downwards. It takes into account “three main impacts”: the new downward revision of automobile production in Europe, the difficulties in making it more flexible and compensating for costs relating to shutdowns / restarts production and finally, exceptional costs linked to difficulties in launching a program in the United States (head office activities in Michigan).
Icade raised its 2021 objectives for the second time this year on the occasion of its investor day. On the stock market, the action of the real estate group gained 0.79% to 63.90 euros. Icade is now targeting net current cash flow (CFNC) per share up by around 8% excluding the effect of disposals in 2021 compared to around 5% previously. The dividend is still expected to increase by 3% this year.
The macroeconomic figures of the day
The first estimate of November inflation in Germany will be released at 2 p.m.
Around noon, the euro gave up 0.29% to 1.1287 dollars.
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