The Paris Bourse continued to rebound today, reach, like all other financial centers by central bankers about intoxicating. While Friday night, Janet Yellen, president of the Fed, confirmed that the rate increase – which will act this year – will be done carefully, his counterpart at the Bank of China, Zhou Xiaochuan, reiterated yesterday that Beijing could do more to support the economy. This is also in the sense that the People’s Bank of China, concerned about the fall in property prices fueling deflationary pressures took targeted measures to ease conditions in obtaining housing loans.
“Yellen’s comments, like those of the People’s Bank of China, for markets to forge ahead” , tells Bloomberg Teis Knuthsen, head of investment banking division Private Saxo Bank in Hellerup, Denmark. “We have largely accommodative monetary policies around the world when the global economy is strengthening. “
The best quarter of the CAC 40 since September 2009
While Wall Street continues to regain some height, CAC 40 finished up 0.98% to 5083.52 points close to the affected almost seven years of record there ten days (5,106.04 points) in a volume of business 3.7 billion, below the average of the year. This week is a four-day week, Good Friday is busy on the financial markets on both sides of the Atlantic. They will be closed four days, Easter Monday is also a holiday. So much caution, especially since this is the last week of the quarter, on the way to be the best (+ 18.98%) currently on the Paris index feature) from one completed in September 2009 (+ 20.86%). This implies, anticipate several experts, investors may be tempted to sell some of their positions to ensure their profits, especially as Friday will be published very important official employment figures in the US for the month of March .
On the foreign exchange market, the euro back lower against the greenback and gives up 0.7% to 1.0814 dollar.
From this side of Atlantic, Greece is obviously in the news when the new list of reforms sent Friday to creditors (European Central Bank, International Monetary Fund and European Commission) remain too vague and they would not be ready to unlock using Financial close to 7 billion euros. According to an official of the Greek Ministry of Finance quoted by Reuters in this list, we would find such an estimate of revenue expected this year from privatization (1.5 billion euros against a previous target of 2.2 billion) and a proposal to create a “bad bank” using the unused EFSF funds to recapitalize banks returned to the euro zone in February (10.9 billion) and the reduction of retirement anticipated. Alexis Tsipras will speak before the Parliament’s plenary session at 19 pm Paris time (20 pm local time).
The confidence index, derived from five confidence indicators (the industry, services, consumer, construction and retail trade), however, continues to improve in the euro zone in March, according to data published by Eurostat. The economic sentiment index rose 1.6 points to 103.9, the business climate rose to 0.23, against 0.09 in February, and the measuring consumer confidence stood at – 3.7 points against 6.7 last month.
In Germany, consumer prices rose 0.5% on month in March, according to preliminary data from the Office Federal statistics, and 0.1% year on year. These figures are in line with analysts’ expectations.
In the US, consumer spending rebounded 0.1% in February, while revenue rose 0.4% against increases of respectively 0.2% and 0.3% expected. Housing sales promises are for their appreciated by 3.1% to 106.9 points last month, well above the 0.4% estimated by the market.
The merger between Lafarge and Holcim cement in danger again
Side values, banks, heavily weighted in the Cac 40, have greatly contributed to the rise of the day, even whether it is the auto stocks that close to the top of the table. Societe Generale , BNP Paribas and Crédit Agricole gained about 2%, while Kepler Cheuvreux raised its guidance on European banks to “overweight” . JP Morgan raised its price targets on BNP and SocGen.
Leading the Parisian barometer, Peugeot gaining 3.68% to 15.775 euros. The chief executive, Carlos Tavares, told Investing he will do everything to achieve profitability by 2% in the automotive division as soon as possible.
Alcatel-Lucent wins 3.43% to 3.524 euros. The telecom equipment manufacturer announced it has been selected by China Telecom as one of its main suppliers for 4G in 40 Chinese cities in twelve provinces.
STMicroelectronics garners 3 64% to 8.731 euros, while in Frankfurt Infineon lead of more than 4% amid expectations concentration in the semiconductor sector as a result of information Wall Street Journal under which Intel discuss the redemption of his Altera competitor for $ 10 billion.
Lafarge lost 1.93% to 60.41 euros, accusing her fourth consecutive decline. The Russian businessman Filaret Galtchev second Holcim shareholder with 10.8% of the capital, rejected the new terms of the merger between the Swiss and the French cement group, not quite favorable to the first, according to several sources press. To be valid, the merger must be supported by at least two-thirds of the shareholders of Holcim . In Zurich, the action of the Swiss cement fence on a stable rating (-0.07%).
Finally, the biotechnology company GENFIT , which had tumbled Friday, more than 44%, takes 15.79% 32 78 euros.
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