Mid-session analysis AOF France / Europe – Investors see the stock market in pink


(AOF) – The main European equity markets continue to grow in the wake of Wall Street and Asian markets. Forgetting the coronavirus, investors welcome the decision by China to halve customs duties on $ 75 billion in American imports, thus setting the trade agreement to a halt. In terms of values, the heavyweights of the CAC 40 unveiled 2019 results overall better than expected. The flagship index of the Paris Stock Exchange gained 0.6% to 6,022 points. The Euro Stoxx 50 rose 0.5% to 3,792 points.

Unlike Ericsson, Nokia released slightly better than expected fourth quarter results. The action of the Finnish telecoms equipment manufacturer gained 2.52% to 3.71 euros. Over this period, it recorded an operating profit of 803 million euros against a profit of 552 million euros, a year earlier. In adjusted data, the Finnish group reported an operating profit of 1.133 billion euros, compared with a profit of 1.12 billion euros in the fourth quarter of 2018.

ArcelorMittal jumped more than 10% to 15.838 euros, the largest increase in the CAC 40, optimistic prospects having relegated to the background of degraded 2019 results. CEO Lakshmi Mittal has seen early encouraging signs of improvement, particularly in its key markets in the United States, Europe and Brazil. According to the boss of the world’s leading steelmaker, customers are returning to the steel market and thus supporting prices. Investors also welcome the group’s financial discipline.

Publicis (+ 3.46% to 41.53 euros) wins second place in the CAC 40. The communications specialist is praised for the progression of its net income published in 2019. It is growing by 9.3% to 9.8 billion euros, but posted a decline of 2.3% on a comparable basis (in line with the objective communicated by the group in October 2019). Arthur Sadoun, its managing director, said he aimed to improve organic growth in the second half of 2020. The company, however, anticipates negative organic growth in the first half and in particular in the first quarter of 2020.

Macroeconomic figures of the day

In December 2019 in France, household consumption expenditure on goods fell back in volume (-0.3% after + 0.7%) according to INSEE. Energy consumption fell sharply (-1.8%) and food purchases fell again (-0.5%). Consumption of manufactured goods slows down (+ 0.6%). Over the whole of the fourth quarter of 2019, household consumption of goods increased (+ 0.4% after + 0.5%).

In the United States, investors will find out at 2.30 p.m. of productivity and labor costs in the fourth quarter, as well as weekly jobless claims.

At noon, the euro climbed 0.03% to 1.1003 dollars.

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