The bank boost the CAC 40
The Paris Bourse is moving in the green Monday. The market is supported by the buoyant stock markets in Asia. The CAC 40 was up over 2% in 3717 to 10.30 points, doubling up from the opening. At midday, the CAC 40 wins 1.98% to 3715.17 points.
The Nikkei closed up 0.35%, the Nikkei 225 Index of blue chips gaining 33.01 points to 9570.31 points. In Shanghai, the stock opened up 0.39% Monday, as investors were apparently reassured by the slowdown in manufacturing activity in July, which shows that government efforts to cool the economy seem to be working. For its part, the Stock Exchange of Hong Kong opened up 1.3%, the Hang Seng index gaining 272.2 points to 21,302.01 points in early trade.
The month of July was investor friendly in Paris.Last month, the CAC 40 was well recovered, compared to a decline in June and a memorable month of May in terms of poor performance. Between 1 July and this July 30, the index rose 9.1%. Since the beginning of the year, it remains a decline of 7.45%. Compared to a year ago, it was up 6.3%.
At the front of macroeconomic indicators, two publications will receive special attention this Monday. In Europe, growth in manufacturing output and new orders accelerated, reaching their highest level in three months, according to the latest PMI survey released Monday and conducted by Markit Economics Institute. The PMI index for manufacturing final Eurozone appears already to 56.7 in July against 55.6 in JuneOn the other side of the Atlantic, the ISM manufacturing activity for July will be very guarded, this afternoon at 16:00. The caution about its direction: opinions are divided as to effect its orientation. Nobody knows whether it will be up or if instead will settle a bit more.
In Europe, investors will also be attentive to the meeting of the Monetary Policy Committee of the ECB. Rates should stay unchanged, but after the recent stress testing of banks in Europe, questions are likely to put Jean-Claude Trichet said on strong banks and a possible return to normal in the interbank market
On the face values, we will monitor:
BNP Paribas (4.59%) which unveiled on Monday its quarterly results before the market in good order. They are far beyond expectations, thanks to lower provisions.The title gained 4.19% to 54.92 euros. The title brings in its wake Societe Generale (2.97%). For its part, Credit Agricole gained 2.33% to 10.75 euros.
Air Liquide (1.29% to 87.48 euros) on Monday confirmed its objective of increasing its net profit in 2010 after an acceleration of growth in sales between the first and second quarter, thanks emerging markets.
France Telecom (1.09% to 16.24 euros) has initiated discussions with shareholders Meditel second operator in Morocco, to acquire 40% stake in it, according to the Moroccan weekly News, suggesting a possible investment of 650 million euros. Title varies slightly to 16.05 euros.
Eurazeo announced Saturday that entered into exclusive negotiations with the U.S. fund Carlyle for the sale of the hotel chain B & B.Eurazeo gaining 1.74% to 49.73 euros.
The construction group Vinci (2.44% to 38.05 euros) was selected Friday by the Government for the concession and the construction of the airport at Notre-Dame-des-Landes, who should take over from 2017 the air service from Nantes-Atlantique.
Areva (-2.96% to 354 euros) on Friday, as expected, half results penalized by an additional provision under the Finnish EPR OL3, but confirmed its 2010 targets.
Eiffage (2.21% to 39.57 euros) published a quarterly revenue up 2.2% and said its order book stood at EUR 10.8 billion at July 1 ( +4.4% at constant since 1 April 2010), more than 11 months of activity.
APRR (stable) – The Socialist leader Arnaud Montebourg said it had seized the financial markets authority (AMF) to try and block the delisting of Autoroutes Paris Rhin Rhone (APRR) requested by Eiffarie, a joint venture of Eiffage and the Australian Macquarie Group