AOF France / Europe Morning Meeting – Towards a rebound after a difficult Monday

(AOF) – European markets may recover after a series of five consecutive fall sessions, including a catastrophic Monday. Tokyo did not know how to recover. The Nikkei index has just closed with a loss of 1.32%. Investors remain vigilant, waiting for the Fed’s decision on monetary policy tomorrow night. They are well aware of the need for the central bank to curb inflation as it becomes dangerous. Except that the acceleration of monetary normalization in the United States, as, of course, soon in Europe, will not be without consequences.

Values ​​to be adhered to today

TotalEnergies

TotalEnergies has entered into an agreement with Adani Enterprises Limited (AEL) to acquire a 25% stake in Adani New Industries Limited (ANIL). ANIL will be the exclusive platform of AEL and TotalEnergies for the production and commercialization of green hydrogen on a large scale in India. ANIL aims, as a first milestone, to produce one million tons of green hydrogen per year (Mt / h) by 2030 based on new renewable electricity production capacity of about 30 gigawatts (GW).

Amoeba

Amoéba has announced the fifth tranche of equity-convertible bonds (OCA) of its new bond financing with an incentive program, namely 60 OCAs number 241 to 300, fully issued in favor of Nice & Green SA. This issue is part of the issue of a contract concluded with Nice & Green SA on December 16, 2020, to create bond financing with an incentive program by issuing 480 OCAs with a face value of € 50,000 each, a total face value of the bond loan of € 24 million.

Eurobio Scientific

Eurobio Scientific has announced the acquisition of Biomedical Diagnostics NV (BMD), a Belgian company specializing in the distribution of in vitro diagnostic tests in the Benelux region (Belgium, the Netherlands and Luxembourg). In 2020, BMD’s turnover reached 3.3 million euros. The purchase, the financial terms of which are not disclosed, was paid in cash.

Pernod Ricard

Irish Distillers, a subsidiary of Pernod Ricard and a manufacturer of Irish whiskeys such as Jameson, has announced an investment of € 50 million over four years in its Midleton winery. The goal is to achieve carbon neutral work by the end of 2026. “This investment, the largest in the history of the Irish distillery, will make Midleton the first and largest carbon-neutral distillery in the country,” said Irish Distillers.

Macroeconomic indicators

In Germany, the Zew index of investor sentiment on economic prospects should come out at 11 am.

In the US, the producer price index for May will be released at 14:30.

At about 8:30 a.m., the euro rose 0.21% to $ 1.0431.

Yesterday in Paris

European stock markets started the week down sharply, still worried about high inflation. In May, it reached a 40-year high in the United States, which could lead to the Fed becoming more “hawk” than expected on Wednesday. Investors fear the economic impact of over-tightening monetary policy when global growth is already showing signs of weakness. From the sound of the call CAC 40 lost 2.67% to 6022.32 points, and Euro Stoxx 50, -2.42% to 3511.96 points.

Yesterday on Wall Street

Wall Street continued its severe decline. The reasons for this weakening should be sought on the side of the highest inflation in 40 years, which should push the Fed to strong pressure on the monetary brake. If on Wednesday experts expect a rate increase of 50 basis points, some consider an increase of 75 ps. Investors are concerned about the impact of this policy on growth. The Dow Jones lost 2.7% to 30,516.74 points and the Nasdaq lost 4.68% to 10,809.23 points. S&P lost 3.88%, officially entering the “bear market”.

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