(AOF) – European equity markets are on the rise at the start of October and are continuing the momentum they started yesterday in the wake of Wall Street. Falling bond yields are supporting a renewed appetite for risk. In terms of statistics, industrial producer prices increased by 5% in August 2022 over one month in the euro zone. In terms of values, those linked to luxury such as Hermès and Kering occupy the upper hand, unlike Thales and M6. Around noon, the CAC 40 gained 2.98% to 5,966 points and the EuroStoxx, 2.81% to 3,436 points.
In Europe, the construction chemist
Sika
rises on the stock market by 5.15% to 212.40 Swiss francs, after announcing an upward revision of its growth prospects for 2022 during an investor day organized on October 4. Managing Director Thomas Hassler particularly insisted on the strategic adequacy of the acquisition of MBCC (ex-BASF Construction Chemistry Division), acquired in November 2021.
The title
M6
plunged 10.04% to 11.20 euros on the Paris Stock Exchange, the German Bertelsmann having finally decided to give up the sale of the 48.3% he holds in the French audiovisual group. Its CEO Thomas Rabe justified this reversal by “the legal risks and uncertainties” linked to the authorization of the sale by the various regulatory and competition authorities. The parent company thus puts an end to a series of several days, citing legal risks and uncertainties “too high” and this, despite offers deemed “attractive”.
Kaufman & Broad
jumped 10.36% to 22.90 euros, the downward revision of the property developer’s growth forecasts accompanied by the confirmation of profit targets for 2022. Faced with an increasingly difficult market, the group now anticipates sales growth of 2% against 5% forecast at the start of the year. The rate of current operating profit (COP) or Ebit is still expected to be above 7% and the net profit group share should increase by around 10%.
The macroeconomic figures of the day
In the euro zone, industrial producer prices increased by 5% in August 2022 over one month, according to estimates by Eurostat, the statistical office of the European Union, against forecasts of 4.9% and after 4% in July. On an annual basis, industrial producer prices increased by 43.3% in the euro zone in August against 37.9% the previous month.
In the United States, August factory orders are expected at 4:00 p.m.
Around noon, the euro gained 0.46% to 0.9869 dollars.