Paris: turned the tide, slight increase in weekly – 11/19/2021 at 3:45 pm
(CercleFinance.com) – The Paris stock exchange turned the tide in the middle of the morning, the CAC40 dropping from 7.190 (+ 0.5% and a new all-time high) to -0.9% towards 7.083, before rising to -0 , 4% to 7.115 (the week would end with a symbolic gain of + 0.3%): a somewhat unexpected scenario for this day of the ‘three witches’ … but which is fully explained given the figures published in Germany.
Volatility resurfaced with the publication of producer prices which jumped + 18.4% (annual rate), unheard of since … 1951.
The CAC40 has gained + 7% since the previous session of the ‘3 witches’ (October 15, after + 8% this morning), and + 12% since the low of 6.412 on October 4.
The initial gains were in line with the new records recorded Thursday night on the US stock exchange, with two all-time highs, with the Nasdaq reaching 15,993 points at the close (+ 0.45%) and the S&P finishing its race at 4,704 points (+ 0.34%).
‘Investors focused on the good results of retail groups and in the technology sector, which eclipsed comments on inflation from a Federal Reserve official,’ said Aurel BGC.
‘John Williams of the New York Fed said inflation is becoming more widespread and expectations for future price increases are on the rise,’ the Paris office reports.
And inflation, it was in question this morning in Germany with a stratospheric producer price index … which does not impress the mandatory markets since the Bunds are easing from -4Pts to -0.32%, our OATs -4Pts also at 0.025% … and T-Bonds show a spectacular -6.5Pts at 1.523%.
The only plausible explanation would be that ‘big hands’ are going risk off, believing that stocks have a lot to lose after a 24-session bull cycle, the S & P500 had 66 all-time highs since January 1.
As the quarterly release season draws to a close, investors are going to have to look for other catalysts to support the trend.
In the news of French stocks, Hermès (+ 4% to 1,565) concluded in apotheosis a historic week (+ 12%).
CNP Assurances publishes net income group share (RNPG) of 1.01 billion euros at the end of September, up 10% (+ 11.2% at constant scope and exchange rates) and a figure of 23.6 billion euros. euros, up 26.3% (+ 29.2% organically).
Arkema indicates that it is now targeting sales of close to one billion euros in batteries by 2030. The chemist plans to increase its production capacities of Kynar PVDF fluoropolymers by 50% at Pierre-Bénite to meet strong growth in demand for materials for lithium-ion batteries, an expansion expected to start in the first quarter of 2023.
TechnipFMC and Petronas Technology Ventures Sdn Bhd (PTVSB), a subsidiary of Petronas, announce that they have reached an agreement to commercialize a unique natural gas processing membrane that reduces greenhouse gas (GHG) emissions. TechnipFMC also announced the launch of a takeover offer on four mandatory strains for a total amount of $ 100 million.