The CAC 40 ended up, driven by banking
The Paris Bourse ended the session on Monday in the green: +0.8% to 3635.86 points after having doubted almost the entire session. The CAC 40 was indeed long hesitation on the way forward following the release Friday of "stress tests" conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm.
Finally, Paris has chosen the rise. Like Wall Street, Friday, which had been optimistic, although Asian markets were more hesitant.
No macroeconomic indicator was expected in Europe.But the United States, sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to official figures released Monday in Washington. The news bolstered Wall Street upwards.
As for currencies, the euro climbed slightly against the dollar: + 0.53% to 1.2980 dollar.
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Who says interpretation of "stress tests", said reaction of the banking sector. At the Paris Bourse, the French banks took off and pulled the score up: +7.75% Dexia, 5.24% for Societe Generale, 3.12% for Credit Agricole, 2.37% for BNP Paribas and 1.91% for Axa.For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.
The car values have also boosted the index: 1.65% for Peugeot, 1.58% and 1.28% for Michelin for Renault.
In red lantern ACC, a troucve STMicroelectronics: 2.34% to 6.34 euros.
Sanofi-Aventis lowered its earnings forecast for 2010
Sanofi Aventis (+0.16% to € 45.58) announced Friday that the first generic version of the anticoagulant Lovenox has been approved by the Food and Drug Administration (FDA). The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA.The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".
The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.
Fimalac (0.95% to 31.29 euros) on Friday issued after the market closes up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 ended September 30.
April Group (1.73%) and Faiveley (-0.29%) publish their turnover in the first half after the stock market. Icade (1.84%) and Klépierre (+0.6%) at the same time unveil their interim results.