(AOF) – European stock markets are expected to rebound at the opening of the first session of the week. Political uncertainty still remains in place following the results of the first round of the legislative elections in France, marked by the supremacy of the National Rally party. During the week, the trends for the second round will become clearer. In terms of statistics, German inflation is notably on the agenda this Monday, as is the purchasing managers’ index for the manufacturing sector in France, Germany and the eurozone.
Values to watch today
Casino
The Casino Group announces that it has signed a firm agreement with Tikehau Capital relating to the sale in the second half of 2024 of a real estate portfolio of 30 assets, made up of hypermarket and supermarket premises leased to the Casino, Intermarché, Carrefour and Auchan brands, as well as as ancillary lots within these real estate complexes, some presenting real estate development potential. Payment of the sale price is planned in several installments, with more than 200 million euros to be received on the sale date scheduled for the second half of 2024.
Fountaine Pajot
Fountaine Pajot posted a sharp increase in net income, group share, in the first half of 2023/2024 (concluded on February 29, 2024): 13.5 million euros compared to 7.8 million a year ago. Over this period, turnover increased by 48% (33.2% at constant scope), strongly focused on international markets: 164.9 million euros compared to 111.4 million euros ago. a year. The manufacturer of consumer catamarans emphasizes that its dynamic is “supported by the acceleration of production rates and the success of the latest launches”.
Renault
Aramco will acquire a 10% stake in Horse Powertrain Limited, the global engines and transmissions company created by Renault Group and China’s Geely. The final agreement values the company at 7.4 billion euros: Renault Group and Geely each retain a 45% stake. Horse Powertrain Limited’s annual production is expected to reach five million powertrains, encompassing a comprehensive portfolio of cutting-edge technologies for its partners worldwide.
Safran
In July 2023, Safran announced that the company would launch a share buyback for cancellation of an amount of 1 billion euros to be carried out in 2024 and 2025. In this context, Safran entered into an agreement with a service provider investment for a first tranche of this share buyback for cancellation. Under the terms of this agreement, Safran will purchase its own shares for a maximum amount of 250 million euros from July 1, 2024 and no later than September 13, 2024.
Macroeconomic figures
The purchasing managers’ index for the manufacturing sector in June will be known at 9:50 a.m. in France, at 9:55 a.m. in Germany and at 10 a.m. in the euro zone.
In Germany, inflation in June will be known at 2 p.m.
In the United States, the purchasing managers’ index (S&P Global) for the manufacturing sector in June will be published at 3:45 p.m.
In the United States, construction spending in May and the purchasing managers’ index (ISM) for the manufacturing sector in June will be revealed at 4 p.m.
Around 8:30 a.m., the euro increased by 0.53% to 1.0771 dollars.
Friday in Paris
European markets closed slightly lower before the elections in France and after the publication of inflation data on both sides of the Atlantic. In harmonized data, the PCE index in France in June is in line with expectations. It would amount to 2.5%. In the United States, it was also in line with expectations in the core version. On the values side, L’Oréal brought up the rear of the CAC 40 after the declarations of its general director. The CAC 40 fell 0.68% to 7479.40 points, bringing its losses to almost 2% over the week. It lost 0.85% in the first half.
Friday on Wall Street
American stock markets closed the last session of the week on a negative note. Investors took note of the PCE inflation figures in the United States which stabilized in May over one month and slowed to 2.6% over one year. On the value side, Nike tumbled on the stock market after revealing disappointing prospects. The televised debate between Joe Biden and his rival Donald Trump also weighed on exchanges. The Dow Jones fell 0.12% to 39,118 points while the Nasdaq lost 0.71% to 17,732 points.
