Mid-session analysis AOF France/Europe – The CAC 40 on the rise despite the automobile heckled after the drop in Tesla prices

(AOF) – European equity markets, which closed yesterday up slightly, are still in the green. The trend is reinforced by new statistics confirming the slowdown in inflation in developed countries, today in France. Confirmation of the rise will depend on the results of US banks, expected this afternoon. In terms of values, the European automotive sector is heckled after a new price drop by Tesla. Around noon, the CAC 40 gained 0.55% to 7,014.23 points. The EuroStoxx 50 rose 0.66% to 4,153.95 points.

Renault and Stellantis posted the biggest drops in the CAC 40 at mid-session, with negative figures of more than 3%, after the announcement of Tesla’s decision to make a further price cut. Two of the best-selling models of the American manufacturer become eligible in France for the ecological bonus of 5000 euros. The threat of a price war with European manufacturers is becoming clearer, while the latter are focusing their efforts on the electric segment. It is the same for the German Volkswagen, Daimler, Mercedes-Benz, Porsche and BMW, red lanterns of the D

OVHCloud gained 1.14% to 15.06 euros, the specialist in cloud computing services having confirmed its 2023 objectives after a start to the year described as “very good” by its management. In the first quarter, which ended at the end of November, the technology group achieved a turnover of 216 million euros, up 15.4%. The quarterly sales of the group founded by Octave Klaba increased by 11.7% in organic data and excluding direct impacts linked to the incident in Strasbourg.

The airports of the Vinci Airports network welcomed more than 56 million passengers in the fourth quarter of 2022, i.e. almost 18 million passengers more than in 2021 (-15% compared to the same period of 2019). More than 209 million passengers used its airports for the whole of 2022, more than double the number of visitors in 2021, down 25% compared to 2019. The group highlights the remarkable dynamics of Mexican airports during this quarter of OMAs just integrated into the network (+9% compared to the 4th quarter of 2019). The Vinci title gained 0.57% to 101.62 euros.

The macroeconomic figures of the day

The euro area recorded a deficit in trade in goods with the rest of the world of 11.7 billion euros in November 2022, compared to a deficit of 3.9 billion euros in November 2021, according to Eurostat. The consensus stood at 21.1 billion.

In November 2022, seasonally adjusted industrial production increased by 1.0% in the euro area and by 0.9% in the European Union, compared to October 2022, according to estimates from Eurostat, the office European Union statistics. The consensus stood at +0.5% for the euro zone.

In the United States, the price of imports in December will be known at 2:30 p.m., while the University of Michigan consumer confidence index for January will be released at 4:00 p.m.

Around 12:00 p.m., the euro lost 0.19% to 1.0830 dollars.

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