AOF final analysis France/Europe – Nervousness is okay – 04/07/2022 at 17:51

(AOF) – For much of the day, European stock markets eventually rose with losses in the wake of Wall Street. Investors this afternoon were gloomy about Russian Foreign Minister Sergei Lavrov’s statement that the draft peace agreement contained “unacceptable” points. Tensions are also rising on the macroeconomic level. The Fed seems more determined than ever to tighten its monetary policy in order to avert the risk of a recession. The CAC 40 lost 0.4% to 6,476 points. The Euro Stoxx 50 lost 0.4%.

In terms of European equities, Atlantia gained 7.3% to 20.4 euros on the Milan stock exchange, while the Italian motorway and airport infrastructure group is about to find itself at the center of a major battle for its takeover. Indeed, last night, two private equity groups, Global Infrastructure Partners (GIP) and Brookfield Infrastructure, confirmed that they met twice in March with representatives of Edizione, the Benetton family holding company that owns 33.1% of Atlanta. for a preliminary non-binding offer to acquire the Italian company.

GenSight Biologics fell 34% to 2.24 euros, penalized by a further slowdown in production of Lumevoq, the treatment for Leber’s hereditary optic neuropathy (LHON). After two manufacturing supplier delays that caused a cumulative delay of nearly a year, the biotech today announced another delay in production of Lumevoq’s validation batches (PPQ). This delay is necessary for the implementation of operational adjustments that will prevent the recurrence of problems during the last PPQ campaign, GenSight said.

Abivax rose 4.8% to EUR 23.1, supported by confirmation of ABX464’s potential in ulcerative colitis. Last night, the biotech with a market cap of nearly $400 million announced excellent efficacy and tolerability results after a year of treatment in the phase 2b maintenance trial of ABX464 in ulcerative colitis. “The final preparations for the international Phase 3 clinical program with ABX464 in UC are underway, with the first patient enrollment scheduled for Q3 2022,” the company says.

The macroeconomic data of the day

In the eurozone, retail sales rose by 0.3% in February. Economists expected an increase of 0.6%, compared to +0.2% in January. Over a year, they were up 5% against a consensus of 4.8%, after +8.4% in January (revised from +7.8%).

In Germany, industrial production rose by 0.2% in February in a month. Economists were expecting a 0.2% decline after +1.4% in January (revised from +2.7%).

In the week of April 2, 166,000 unemployment claims were registered in the United States, against a Reuters consensus of 200,000 and 171,000 the week before, a revised figure of 202,000.

At around 5:35 PM, the euro gained 0.04% to $1.0903.

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