Morning meeting AOF France / Europe – Slight increase expected after Microsoft and Alphabet, but before the Fed

(AOF) – European markets are expected to rise slightly. If the results of Microsoft and Alphabet (Google) did not live up to the consensus, investors were expecting the worst. It is therefore a feeling of relief that predominates. The results of companies, more and more numerous in France and in Europe, will continue to animate the dimension. In Paris, LVMH and Danone will be particularly to watch. The more the session progresses, the more investors will have in mind the Fed’s monetary policy decision, expected at 8 p.m.

The values ​​to follow today

Danone

On the occasion of the publication of its accounts for the first half marked by dynamic activity, Danone raised its growth forecast for 2022. The agri-food group now anticipates growth in turnover between 5 and 6% on a like-for-like basis. against 3% to 5% previously. The current operating margin should be above 12%. In the first half, net income, group share, fell 31% to 737 million euros. On the other hand, current operating income increased by 3.9% to 1.61 billion euros.

LVMH

LVMH saw its net income group share increase by 23% to 6.532 billion euros in the first half. The current operating profit of the world’s leading luxury goods company jumped 34% to 10.235 billion euros. It represented 27.9% of sales, up 1.3 points compared to the first half of 2021. The Fashion and Leather goods, which is the largest of the group, recorded current operating income up 33% to 5.66 billion euros.

Klepierre

Klépierre, the European leader in shopping centers, announced a 19.1% increase in its turnover for the first half of 2022, to 613.8 million euros. Net current cash flow amounted to 1.32 euros per share, up 83.7%. From February to June 2022, merchant turnover increased sharply. The increase was gradual each month, supported by the end of health restrictions and the economic recovery, reaching 92% of 2019 levels in February and March and 101% in the second quarter.

Axway

Axway unveiled net income, group share, of 2.4 million euros in the first half against 1.8 million euros a year earlier. The IT group’s operating profit from activity rose in one year from 10.5 to 6.7 million euros, showing a margin of 4.9 points, down 2.7 points. Revenue reached €136.4 million, down 5.8% organically and 1.4% overall.

Macroeconomic figures

Investors await household morale in July in France at 8:45 a.m. In the US, June durable goods orders are scheduled for 2:30 p.m., June home sales promises for 4 p.m. and the Fed’s monetary policy decision for 8 p.m.

This morning, the euro gained 0.17% to 1.0136 dollars.

Yesterday in Paris

European indices closed slightly lower, weakened by the profit warning from American retail giant Walmart. The CAC 40 lost 0.42% to 6,211.45 points and the Euro Stoxx 50 lost 0.79% to 3,575.82 points. The decline also dominated in the United States where the Dow Jones fell 0.58% to 31,803.21 points around 6:00 p.m. Listed securities news was rich in Paris with highs (Edenred, Dassault Systèmes) and lows (Eutelsat, Soitec). European investors’ attention is now focused on the Fed’s monetary policy announcements on July 27th.

Yesterday on Wall Street

US markets confirmed their losses in the second half of the session, weakened by the retail sector. Walmart has indeed issued a warning on its results. This profit warning illustrates the difficulties of the American consumer faced with high inflation. But company results also had their share of good surprises in store: Coca-Cola, UPS, etc. Today’s economic data was disappointing, in particular consumer confidence in July. The Dow Jones lost 0.71% to 31,761.64 points and the Nasdaq Composite lost 1.87% to 11,562.57 points.

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