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European stock markets start May positively

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On Monday morning, the first stock market results for the month of May were released. The major European stock markets are rising, continuing the positive momentum of April. These results are supported by optimism about future economic prospects.

 

In Paris, France, the CAC 40 index advanced 0.58% to 6,305.92 points and in Frankfurt, Germany, the Dax gained 0.72%. In the United Kingdom, the British markets remain closed for the bank holiday.

 

France recently announced its progressive “deconfinement”, where one of the first measures announced is the lifting of travel restrictions on its territory. These new measures, linked to the Covid-19 pandemic, may have a considerable impact on these indices.

 

“The institution could start to withdraw exceptional monetary support when the level of vaccinations against COVID-19 reaches a critical level in Europe and the economic rebound in the region accelerates,” said the vice-president of the European Central Bank (ECB) in an interview with La Repubblica.

 

The EuroSotxx, a stock market index at the level of the euro zone encompassing 50 companies, advanced by 0.69%. The FTSEurofirst 300 and Stoxx 600 indices are up by 0.53% and 0.46% respectively.

 

Despite negative results on Friday, the Stoxx 600 index recorded its third consecutive month of gains in April (+1.8%). With the economy recovering in some European countries, investors are still betting on this gradual recovery.

 

According to the Reuters source, investors should watch several indicators and more particularly the report on American employment. The report will be released on Friday.

 

The other indicator to watch is Federal Reserve Chairman Jerome Powell’s speech at a National Community Reinvestment Coalition conference: watch for it tonight.

 

Some values

 

In Paris, DBV Technologies is down 3.97%, the biggest drop on the SBF 120, after its first-quarter results, marked by a reduction in the net loss over the year but also a “significant drop in cash linked to the financing of the restructuring plan,” said Portzamparc (BNP Paribas Group) in a note.

 

In contrast, Genfit climbed 4.54% after announcing the launch of a new non-invasive diagnostic test for NASH in the US and Canada by its partner Labcorp. At the top of the Stoxx 600, Lufthansa gained 3% while Dutch telecom operator KPN lost 3.66%.

 

All these indices are moving in line with potential containment/decontainment measures related to the global pandemic veja aqui.

 

Lire aussi > THE STOCK MARKET SETS A NEW RECORD

 

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The editorial team

Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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