AOF Morning Meeting France/Europe – Falling in Sight Ahead of US Inflation

(AOF) – European stock markets are expected to fall at the open, following Wall Street and some Asian markets. In Japan, the Nikkei just closed down 1.49%. Investors around the world are concerned about the slowdown in economic growth and the persistence of inflation. They fear the consequences of the growth of long rates for the worsening of the economic situation. In this context, we look forward to the announcement of US inflation for May at 14:30, as well as the US consumer confidence index for June at 16:00.

Values ​​to follow today

inventive

Inventiva has announced the selection of three scientific abstracts for poster presentation at the Association for the Study of the Liver (EASL) International Liver Congress 2022 from 22 to 26 June 2022 in London, UK. These three poster presentations demonstrate the positive impact of his experimental treatment with lanifibranor on markers of cardiometabolic health in NASH (non-alcoholic steatohepatitis) patients with non-cirrhotic fibrosis, independent of observed weight gain.

AST Group

The Joint General Meeting of Shareholders of the AST Group approved all proposed resolutions, with the exception of the 14th resolution regarding the increase in the authorized capital for employees, which was rejected on the recommendation of the Board of Directors. The extension of the mandates of Jérôme Gakuin and Olivier Lamy as directors was approved for a period of 6 years. The general meeting also approved the payment of dividends in the amount of 0.10 euros per share. The dividend payment will take place on June 24.

eiffage

Eiffage, through its subsidiaries Eiffage Génie Civil and Eiffage Senegal, has won a contract awarded by Société Nationale des Eaux du Sénégal (SONES) to design, build and operate for 24 months the future Mamelles seawater desalination plant in Dakar, Senegal. The total amount of the contract is almost 146 million euros.

ipsos

Ipsos announced the appointment of Dan Levy as Group Chief Financial Officer effective June 10, 2022. Dan Levy will report to Ben Page, CEO of Ipsos, and will replace Lawrence Stocklet, Deputy CEO, as Chief Financial Officer. Team member and prior to that Head of Finance and Support at Ipsos.

Macroeconomic indicators

Investors will take note at 2:30 pm US consumer prices for May and at 4:00 pm the University of Michigan Consumer Confidence Index for June (first estimate).

Around 8:30 am, the euro rose 0.03% to $1.0623.

Yesterday in Paris

With a moderate decline, European stock markets increased their losses after the ECB speech. Faced with persistent inflation, the ECB did not flinch, even if it meant destabilizing investors. The central bank not only confirms, as expected, the end of asset purchases at the end of June and the intention to raise its key rates by a quarter point in July, but also mentions an increase in September. . Which can be more than a quarter of a point, depending on the situation. The CAC 40 fell 1.4% to 6,358.46 and the Euro Stoxx 50 shed 1.59% to 3,728.68.

Yesterday on Wall Street

US markets closed sharply lower after the ECB announcement. Not only will he raise his prime discount rate by 25 basis points in July, but he will also open the door for a 50 basis point hike in September. These hawkish statements by the ECB led to further increases in long rates in Europe and the US. Thus, US 10-year bonds have exceeded the threshold of 3%. The Dow Jones lost 1.94% to 32,272.79 and the Nasdaq Composite lost 2.75% to 11,754.23.