European equity markets are moving up in the wake of Wall Street and Asian markets. Investors are reassured by the easing of health restrictions in China, and in particular in Shanghai. Moreover, the slowdown in inflation in the United States, if it continued, could allow the Fed not to raise its rates too much, thus preserving the growth of the world’s largest economy. The session is quiet due to the closure of Wall Street (Memorial Day). The CAC 40 gained 0.92% to 6,575.5 points and the Euro Stoxx 50, 0.97% to 3,845.9 points.
Siemens and its partners Orascom Construction and Arab Contractors have signed a major contract with Egypt for the construction of approximately 2,000 kilometers of high-speed railways. Siemens’ share amounts to 8.1 billion euros. This is the largest order in the group’s history. On the stock market, this allows the title to progress by 3.41% to 126.02 euros per share. For its part, Alstom, the French competitor, fell 0.23% to 25.95 euros.
Down 3.5% to 98.80 euros, Sanofi shows the largest drop in the CAC 40, penalized by its status as a defensive value in a market marked by risk appetite. The bad news concerning the sale of Cialis over the counter in the United States does not help matters. The American health authorities have postponed the launch of the trial in real conditions of use, planned by the French laboratory to support its request to transfer the treatment against erectile dysfunction to the self-medication market. The FDA cited reasons related to the trial protocol.
Dékuple rose 5.68% to 33.50 euros thanks to a dynamic first quarter. The cross-channel data marketing specialist recorded over the first three months of the year, a turnover of 45.9 million euros, up 21.6%. Gross profit amounted to 36.7 million euros, up 14.1%.
The macroeconomic figures of the day
Markets are closed in the United States (Memorial Day).
In Germany, the first inflation estimate for May is due at 2 p.m.
Around noon, the euro gained 0.31% to 1.0764 dollars.