(CercleFinance.com) – (CercleFinance.com) -The CAC40 (+ 0.6%) picked up more + 2% on its lows of the day, between 4.370 and 4.470 (current score): ‘Growing tensions between states -United States and China weighed on the equity markets Thursday, with losses mitigated by the figures of American unemployment emerged in line with expectations’, underlines Liberum.
The Hong Kong stock market fell -5.6% because of the announcement by Beijing of what looks like the burial of the principle ‘1 country, 2 systems’ to which the United States is very attached.
Social chaos risks re-emerging in the former British territory and Donald Trump assures that Beijing is exposed to a large-scale response (commercial and customs) if the Communist power persists in restricting public freedoms there.
European markets were taking these serious threats to Sino-American relations very seriously this morning … but a ‘funicular algo’ was active and the indices erased their losses and then went back into the green, without any information concerning a calming tensions between China and Hong Kong, without any favorable ‘news’ that could obscure the initial fears.
This rise in prices ‘comes out of nowhere’, even if some commentators try to rationalize it – without great conviction – with the mention of the de-containment which continues, the reopening of about half of the ‘malls’ (shopping centers giants) from the United States.
“With the implementation of deconfinement measures, a rebound in economic activity should be observed in this month of May and in June”, estimates for his part Aurel BGC, who indicates however expect a ‘recovery in W’ on world trade.
There are moreover no statistics to put in the tooth to justify any form of optimism: it therefore seems that certain ‘forces’ act in order to push the indices as high as possible before a weekend of 3 days in United States … and which should be largely devoted to barbecues and shopping.
Despite the enthusiasm on the rebound in growth which the equity managers seem to show, oil specialists do not seem to be on the same wavelength since Brent crude falls by -3% to $ 34.8 in London.
On the value front, the CAC40 is supported by Atos + 4.4%, then again St Gobain with + 3.6% at 27.1E.
Bank values increased by + 1.5% on average, Natixis picked up + 5%.
The TechnipFMC oil services group (stable) announces agreements for credit facilities of £ 600 million and € 500 million as additional sources of liquidity.
Maisons du Monde announces that the combined general meeting (ordinary annual and extraordinary) of its shareholders will be held behind closed doors (excluding the physical presence of the shareholders) on Friday 12 June.