AOF Mid-Session Analysis France/Europe – Conflict in Ukraine Gives European Stock Markets a Wake-up Call – 04/05/2022 at 12:16

(AOF) – A time close to equilibrium, European markets have accentuated their decline in the second half of the morning, worried about the turn of events in Ukraine. Indeed, following accusations of war crimes against Moscow, Russian troops are about to launch a massive attack on Donbass. At the same time, Western countries are considering new sanctions, including an embargo on Russian gas, even if it means weakening their economies. Consequently, the CAC 40 lost 0.86% to 6,673.79 points and the Euro Stoxx 50 lost 0.26% to 3,940.93 points.

Boursorama, a subsidiary of Societe Generale, has signed a definitive association agreement with ING. On the stock market, the shares of Société Générale fell 5.29% to 22.73 euros, closing the march of the CAC 40 index. This sharp decline is common to all French banks despite the rise in interest rates. Exclusive talks had been announced in early February following ING’s decision to withdraw from the retail banking market in France, where it had 1 million customers, including 700,000 assets.

Delta Plus gains 2.8% on the Paris Stock Exchange, up to 92.10 euros per share, the day after the publication of its annual results. The specialist in personal protective equipment achieved a net profit, group share, of 32.4 million euros in 2021, 10.8% more. Current operating profit amounted to €48.1 million, up 11.1% in a year, but remained slightly below Midcap Partners’ expectations (€49.1 million). It thus shows a margin of 14%, as expected, slightly above historical levels.

It is without false note that Argán (+1.94% to 115.80 euros) opened the ball for the publications of the first quarter on the ground. Between January and March 2022, the company recorded rental income of 40.7 million euros, 7% more than in the first quarter of 2021. “This strong growth is mainly a consequence of the annual effect of deliveries in 2021 as well as as well as the income generated by the three new promotions delivered since the beginning of the year”, explains the real estate agency specializing in the promotion and rental of premium warehouses.

The macroeconomic figures of the day

The Purchasing Managers’ Index (PMI) for services rose to 57.4 in France in March, in line with initial estimates, according to final data from S&P Global Services (ex-IHS Markit). It was 55.5 in February. The composite index reached 56.3, that is, 0.1 point above the first estimate (55.5 in February).

The Purchasing Managers’ Index (PMI) in services rose to 55.6 in the Eurozone in March, from an initial estimate of 54.8, according to final data from S&P Global Services (formerly IHS Markit). It was 55.5 in February. The composite index reached 54.9, that is, 0.4 points better than estimated (compared to 55.5 in February).

The Purchasing Managers’ Index (PMI) for services rose to 56.1 in Germany in March, from an initial estimate of 55, according to final data from S&P Global Services (formerly IHS Markit). It was 55.8 in February. The composite index reached 55.1, that is, 0.5 points better than estimated (compared to 55.6 in February).

In the United States, the trade balance for February will be released at 2:40 p.m., the final version of the March Composite and Services Purchasing Managers’ Indices at 3:45 p.m. and the Services ISM at 4:00 p.m. hours.

By midday, the euro was up 0.04% at $1.0978.

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