(AOF) – European markets fell, penalized by fears of recession. The purchasing managers’ indices point to a deterioration in the economic situation in June, with demand being penalized by the high level of inflation. These statistics have led to a marked easing in the long-term interest rate market, which is weighing on the banking sector. On the contrary, this development is favorable to technological and well-valued stocks, such as luxury companies. Around noon, the CAC 40 lost 0.39% to 5,893.30 points and the EuroStoxx50, 0.69% to 3,440 points.
The title of the Italian bank Banca MPS lost 1.82% to 0.673 euro on the Milan Stock Exchange; evolving in line with the sector. The latter is penalized by the drop in long rates in Europe. On the occasion of the presentation of its strategic plan, it announced that it would raise 2.5 billion euros in fresh money to finance it. The operation should take place by the end of 2022 and the Italian State, which owns 64% of its capital since its rescue for 5.4 billion euros in 2017, will return to the pot.
Atos (+9.27% to 13.79 euros) escaped the fall in the Parisian market thanks to information from BFM Business that the State would be in favor of a merger with Thales. “The ministries let Thales maneuver to create a French champion in the sector”, explains the media while the defense group, 25.7% owned by the State, has been interested in Atos’ cybersecurity activities for several months. . It would be supported by the Ministries of the Economy and the Armed Forces.
Up 2.83% to 75.48 euros, Eurofins signs the strongest progression of the CAC 40, supported by Deutsche Bank. The broker raised its recommendation on the specialist in bio-analysis from Sell to Keep and maintained its target price of 80 euros on the occasion of a study on the testing and certification sector. The period 2000-2008 was one of the fastest and most consistent growth for test companies, he observes.
The macroeconomic figures of the day
In France, the “flash” PMI manufacturing index came out in June at 51. Economists were counting on 54 after 54.6 in May. The composite index, which combines services and industry, stands at 52.8. The consensus gave it at 56 after 57 in May. The services index reached 54.4 against a consensus of 57.6 after 58.3 in May.
In June 2022, the business climate in France darkens somewhat, reveals INSEE. The indicator that synthesizes it, calculated from the responses of business leaders in the main market sectors, loses two points. At 104, it remains above its long-term average (100). This deterioration in the business climate results in particular from the decline in the prospective balances of opinion in services and retail trade.
Eurozone private sector activity slowed more than expected in June, S&P Global reported. The composite index, which combines services and industry, stands at 51.9. The consensus gave it at 54 after 54.8 in May. The “flash” PMI manufacturing index came out in June at 52. Economists had forecast 53.9 after 54.6 in May. The services index reached 52.8 against a consensus of 55.5 after 56.1 in May.
In Germany, the “flash” PMI manufacturing index came out in June at 52, highlighting a more significant slowdown than expected. Economists were indeed counting on 54 after 54.8 in May. The composite index, which combines services and industry, stands at 51.3. The consensus gave it at 53.1 after 53.7 in May. The services index reached 52.4 against a consensus of 54.5 after 55 in May.
In the United States, the weekly jobless claims will be published at 2:30 p.m. The PMIs for the manufacturing and services sectors in June will be announced at 3:45 p.m.
Around 12:00 p.m., the euro lost 0.51% to 1.0513 dollars.