CAC-40 led the European stock rebound on Thursday with a surge of close to 1.7 percent, while the other European peers followed with slightly lower gains. Upbeat earnings remained the central theme, as investors digested the impact of the war and the retaliatory sanctions on future corporate earnings.
The CAC-40 is currently trading at 6,555.81, up 1.72 percent from Wednesday’s close. The day’s trading has been between 6,575.95 and 6,503.05.
Software maker Dassault Systemes has gained 5.7 percent amidst the lift to annual profit forecast and positive earnings surprise announced on Wednesday.
Software business Worldline, has surged 5.4 percent on Thursday, after gaining 2 percent on Wednesday following release of upbeat first quarterly results that showed organic growth of 11.6 percent.
TotalEnergies is trading 4.0 percent higher amidst the energy giant announcing $3 billion share buybacks for the first half of the year. The company reported first quarter results that showed earnings rising with the surge in oil and gas prices while also recording a $4.1 billion impairment hit on a sanctions-hit Russian project.
Capgemini also surged close to 4 percent after reporting fourth consecutive quarter with double digit growth and confirming 2022 guidance.
Unibail-Rodamco-Westfield has shed 1.75 percent while Thales has dropped 0.61 percent.
Pernod Ricard is down 0.43 percent as its warning on fourth quarter performance eclipsed sales above forecasts reported in the third quarter.
Healthcare group Sanofi is trading 0.15 percent lower despite reporting earnings surpassing analyst expectations.
The EURUSD pair is at 1.0504 after declining 0.48 percent overnight. The EUR/USD rate had fallen to a low of 1.0483 as the lingering anxiety surrounding the Fed’s aggressive interest rate policy lifted up the Dollar, raising the Dollar Index to a 20-year high of 103.72.
The ten-year bond yield has increased by 0.80 percent to 1.318 percent versus 1.307 percent on Wednesday.
Market Analysis
CAC-40 Leads The European Stock Rally
2022-04-28 11:50:15
