Published November 16, 2022 at 2:45 pmUpdated November 16, 2022 at 2:58 pm
The Paris Stock Exchange erased yesterday’s gains, snapping a streak of four consecutive bull sessions. The rocket attack on Poland that killed two people near the Ukrainian border has dampened investor enthusiasm to say the least, despite reports suggesting Russia was not behind the attack. Wall Street is heading for a slow open despite a stronger-than-expected rise in US retail sales last month. The latter grew overall by 1.3% excluding motors, against respectively +1% and +0.5% expected by the market, which could be badly perceived by the Fed.
Shortly after 2.30pm, the Bedroom 40 it lost 0.45% to 6,611.77 points on a turnover of 1.4 billion euro. The contracts future on the American indices it returned about 0.1%. Objective Down 13% in pre-market in New York, the retail group expects sales to decline at a number of comparable stores for the quarter due to the impact of inflation on its customers. walmart And Home storage they are also reported to be lower despite yesterday’s increase in their forecasts.
An unfortunate accident?
NATO Secretary General Jens Stoltenberg said there were “no indications” of a deliberate attack on Poland and that preliminary analyzes suggest that ” the crash was probably caused by a missile from the Ukrainian air defense system fired at Russian cruise missiles. Polish President Andrzej Duda, for his part, judged ” highly probable “that the missile comes from the Ukrainian defense and that it could be a” unfortunate accident “. The caution of Western leaders is all the more palpable as Poland is a member of NATO, whose Article 5 provides for collective assistance in the event of an attack against one of its members.
In the bond market, the US 10-year yield fell 4 basis points to 3.7630% and that of the same-maturity German Bund fell 6 basis points to 2.0560% as the market continues to favor the prospect of a by 50 basis points of the Fed funds rate in December. The weaker-than-expected increase in US producer prices announced yesterday confirmed the slowdown in inflation already suggested by last week’s consumer price index.
Alstom accelerates, Air France-KLM tip nose
It is different for the ECB, who warned of growing risks to the financial system. In its semi-annual financial stability report, the central bank specifically cites the potential combination of recession, soaring inflation, rising costs and shrinking liquidity in a war-degraded environment in Ukraine.
Altom 5.5% is allowed. The railway equipment manufacturer reported half-year revenue growth of 8%. and an adjusted operating margin of 4.9%, compared to 4.5% a year earlier. For the full year 2022-2023, the target is for an operating margin of between 5.1% and 5.3%, compared to 5% for 2021-2022. It had previously forecast a rising margin in 2022-2023.
Defense values are also researched. Thales gains 2.1% and Dassault Aviation 1%.
Agricultural credit loses 1.9%. Citi downgraded the green bank’s shares from “buy” to “neutral”.
Kering yields 1.7%. The American Estée Lauder has announced the acquisition of Tom Ford for 2.8 billion dollars. The Wall Street Journal recently reported that Kering is in the running to buy Tom Ford.
Air France-KLM drop of 11.9%. Lhe airline has announced the launch of a convertible bond issueif/or convertible into shares for approximately 300 million euros. The group is also exposed to the risk of a strike due to the holiday period.