Stock Market Latest
The index futures on the main New York indices signal an opening down 0.2% to 0.5% on Wall Street, which approached Wednesday its historic highs, still buoyed by optimism on the recovery with improved economic statistics, both in the United States and in Europe and Asia, and support from central banks.
In Paris, the CAC 40 lost 0.55% at 4,994.91 around 11:13 GMT. The Parisian index thus falls below the 5,000 point mark above which it finished Wednesday for the first time in three months.
VALUES IN EUROPE
Profit-taking logically affects the sectors which had benefited the most from the rise in recent days, such as the automobile sector, whose Stoxx index fell -2.08%, banks (-1.45%) or insurance (-1.43%).
Commercial real estate specialists, who had taken full advantage of the gradual recovery in activity in several countries, suffer: Hammerson lost 13.03%, Unibail-Rodamco-Westfield 2.68% and Klépierre 1.96%.
In Frankfurt, car manufacturers blame the lack of a purchase premium for 100% thermal vehicles in the German government stimulus plan: BMW, Volkswagen and Daimler sell between 1.14% and 3.7%.
On the upside, Remy Cointreau wins 8%, the best performance of the Stoxx 600, after having raised its forecast of turnover for the current quarter by evoking a “more favorable” evolution of the consumption of spirits in the United States.
Vivendi takes 2.84%, the good reception reserved for the American Warner Group Music for its return to Wall Street being perceived as a positive signal for the IPO of its musical subsidiary Universal Music expected in 2023.
On the European bond market, the yield on the German ten-year Bund is in equilibrium, at -0.349%, while Italian yields are on the rise before the highly anticipated announcements from the ECB.,
In the United States, the yield on 10-year Treasuries dropped less than two basis points to 0.7459% after hitting a seven-week peak yesterday at 0.771%.
Aperam grapples 0.5% in Amsterdam with the support of Oddo BHF, which reiterates its ‘purchase’ opinion with a price target raised from 27 to 36 euros, including a 40% probability of occurrence for an acquisition of Outokumpu Americas by the steelmaker.
‘Aperam could acquire Outokumpu Americas if, as we anticipate, the new CEO of Outokumpu decides to sell this division which is struggling to reach the level of profitability of NAS, the subsidiary of Acerinox’, estimates the design office.
BlackRock, acting on behalf of clients and funds, told the AMF to have crossed on June 2 the threshold of 5% of the voting rights of Publicis Groupe and to hold 5.47% of the capital and 5, 01% of the voting rights of the communications group.
The American asset manager specifies that this threshold crossing results from an acquisition of Publicis shares on the market and from an increase in the number of shares held as collateral.