Start of Cac 40 semesters, before Alphabet and Microsoft, not to be missed tomorrow

All Hazard Week is open to Cac 40 companies, with about thirty results released as of June 30 by Friday. Publications that come out after the start of the year are marked by an inexorable price hike that puts the profitability of companies to the test. In this context, companies should, as far as possible, increase their prices in order to limit the impact of inflation. The tightening of monetary policy as a result of this phenomenon, especially in the euro area and the United States, raises concerns about the economic downturn, which will inevitably affect business growth.

Michelin, Dassault Systèmes and LVMH on the grill, before Alphabet and Microsoft

The first publications will begin on Tuesday, first of all Michelin. The automotive landscape is currently weakened” strengthening recession signals, geopolitical instability and resurgence of Covid-19 cases Barclays analysts explained in a note in early July. The world leader in tire manufacturing was able to maintain growth in the first quarter due to higher prices. In the just-ended quarter, the company’s turnover increased by 17.7% year-on-year to 6.7 billion euros, according to the Bloomberg consensus forecast. If the estimates are correct, semi-annual sales will amount to just over 12 billion euros.

In the luxury goods sector, European tourist buying craze could boost the group’s semi-annual bills. LVMX, despite environmental degradation in China. The market will also carefully study the semi-annual reports Dasso Systems. After a better-than-expected first quarter, the computer-aided design and manufacturing software publisher was able to raise its annual operating profit target to more than 33%. The momentum should continue in the second quarter, with half-year sales estimated at 2.65 billion euros (+16% yoy). The table below summarizes the company’s other major publications.

Internationally, after the first quarter below expectations, Google’s parent company, Alphabet Inc. will publish the results of the second quarter after the Wall Street close. The message comes after the Snap shock that saw Meta Platforms, owner of Facebook, Alphabet and other companies that rely on online advertising revenue, lose more than $80 billion in combined market capitalization last Thursday. Alphabet is expected to generate $58 billion in turnover between April and June (Bloomberg consensus), representing a 6% year-over-year decline. Digital giant microsoft, whose fiscal year is delayed, will publish fourth-quarter accounts also after the close. Three Dow Jones companies 3M, Coca Colaas well as Visa will publish the results of the second quarter, as well as UBS as well as UPS.

The IMF may once again lower its forecasts

On the macro front, investors will be watching for new IMF forecasts at 3:00 pm, while further downside growth prospects are to be expected. Last April, the forecast had already been cut from 4.4% to 3.6% and should fall again in July between 2.5% and 3%.

In the United States, inflation and rising interest rates are undermining consumer confidence. Indicator conference board should fall again from 98.7 in June to 96.9 in July. This degraded economic environment should also lead to “ housing market undergoing a sharp correctionexplain Oddo BHF analysts. Prices are reacting late (latest published figures refer to the period from March to May), but given the tightening of borrowing conditions, they will definitely calm down “. Index FCFA, which measures change in house prices across the Atlantic, is thus expected to rise 1.5% in a single month in May versus 1.6% in April. Another sign of slowdown new home sales should increase from 696,000 to 661,000 between May and June on an annualized basis.

EU ministers will meet on the Old Continent to discuss the gas crisis in Russia.