European equity markets could start the session slightly higher, but the trend seems very fragile. Investors continue to fear the impact of the monetary tightening initiated by the Fed. At the same time, they fear the consequences of inflation for the global economy. It is also the general concern that predominates. The ADP survey of US private employment in May is expected to be released at 2:15 p.m. It will provide information on a possible easing of the labor market and consequently on the evolution of wages, characteristic of the so-called “second-round” inflation.
The values that follow today
Saint-Gobain confirms that it aims to further increase operating profit in 2022 compared to 2021 at comparable exchange rates. In the first half of 2022, the group expects operating profit to surpass the record level of the first half of 2021 and for the operating margin to reach double-digit levels.
On the occasion of the publication of the half-year figures, Catana announced a favorable outlook. In addition to the historic growth announced for the current financial year, which should enable a turnover of 160 million euros, the order book confirms excellent prospects for the next two years. The pleasure craft specialist indicates that 210 million euros in accounts have already been insured for the 2022-2023 financial year, as well as 160 million euros for 2023-2024 on a target of more than 250 million euros.
Renault Group and Managem Group have announced the signing of a “memorandum of understanding” aimed at securing the supply of low-carbon and responsible cobalt sulfate for electric batteries. The agreement provides for the supply by Managem of 5,000 tons of cobalt sulphate per year for a period of 7 years, starting in 2025. After a technical study, Managem plans to invest in the construction of a future factory at the Guemassa industrial complex in Morocco to convert cobalt ore into cobalt sulfate.
Vallourec announces the appointment of Enrico Schiappacasse as SVP Strategy and Development for the group. He will take office on June 1, 2022 and will be a member of the Executive Committee. Enrico Schiappacasse was previously Vice President of the Oil and Gas Business Unit of Prysmian Group, the world leader in cables and systems for energy and telecommunications.
In the UK, the markets are closed (Spring Bank Holiday).
In the eurozone, producer prices must be paid at 11 a.m. in April.
In the United States, investors will respond to the ADP private employment survey at 2:30 p.m. in May and to the weekly unemployment claims at 3:15 p.m., the new estimate of productivity in the first quarter and the new estimate of unit labor costs in the first quarter. Industrial orders for April are expected at 4 p.m. and the change in weekly crude oil inventories at 5 p.m.
At around 8:30 a.m., the euro gained 0.03% to $1.0658.
Yesterday in Paris
It was ultimately in the red that the European stock markets started the month of June. Inflation concerns persisted after the release of the latest European data. In Europe, purchasing managers’ indices confirmed the slowdown in the manufacturing sector in May. At the sound of the bell, the CAC 40 fell 0.77% to 6,418.89 points and the EuroStoxx50 fell 0.84% to 3,757.30 points. The decline on Wall Street weighed in in the afternoon.
Yesterday on Wall Street
US stock markets closed lower after a volatile session. The environment continues to be characterized by investor concerns about global economic growth, the acceleration of inflation and the monetary tightening of the major central banks. Faced with these fears, the unexpected rise in the manufacturing ISM index in May was pushed into the background. On the values side, Salesforce jumped thanks to the increase in targets. The Dow Jones fell 0.54% to 32,813.23 points and the Nasdaq Composite -0.72% to 11,994.46 points.