Mid-Session Analysis AOF France/Europe – European stock markets still weak on fears about inflation and the economy

(AOF) – European stock markets turned sharply lower on Monday, still worried about high levels of inflation. In May, US inflation hit a 40-year high, prompting the Fed to be more “aggressive” than expected on Wednesday. When global growth is already showing signs of weakness, investors fear the economic impact of extreme monetary tightening. Figures published in the United Kingdom this morning are another example. Around 11:45 am, the CAC 40 fell 2.39% to 6,039.08 points and the Euro Stokes 50, -2.34% to 3,514.85.

eng fell 3.51% to 9.41 euros, but the Dutch bank’s title evolved in line with the European banking sector, which was weakened by recession fears. Listed banks are also not getting the benefit of continuous hike in long rates. On the occasion of its Investor Day, ING unveiled its 2025 objectives broadly in line with expectations. Although the expected profitability is a nice surprise to its projections.

555 million euros. This is the compensation that Naval Group will receive after Australia breached the “contract of the century” last September. The announcement was made over the weekend by the new Australian Prime Minister, Anthony Albanese. The contract relates to the order placed to the Naval Group of 12 conventional submarines and amounted to tens of billions of euros. At the end of December 2021, Naval Group was 62.25% owned by the French state and 35% by Thales, This morning, the latter climbed 2.10% to 114 euros per share, offering itself the biggest increase in the CAC 40.

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valneva 7.70 euros, down 26.32 percent. Due to a lack of sufficient orders from the European Union, the Franco-Austrian biotech is threatening to abandon its development program for its vaccine against COVID-19. This abandonment will have consequences for the sales prospects of the group. In November 2021, Valneva signed an agreement with the European Commission regarding the supply of 60 million doses of the vaccine over two years, including 24.3 million doses in 2022. Since then and contrary to expectations, the Agency for Medicines European Union (EMA) still has not approved the vaccine.

macroeconomic data for the day

Feather UK, GDP shows a growth of 0.2% in the first quarter of 2022, against +0.8% in the initial estimate in the second quarter. Economists were counting at +0.4%.

at around 11:45, euro It fell 0.49% to $1.0468.

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