+ 0.65% weekly, completely distanced by Nasdaq and S&P

Despite good US figures and Wall Street flirting with new records, the Paris Stock Exchange fails to end the week in style: the ACC crumbles by -0.4% 6.069 after having been placed for 8 hours in a straitjacket algorithmic (stagnating between 6.070 and 6.095 since the opening).

The week ended with a gain of + 0.65% which is full figure next to the Euro-Stoxx50 (-0.15% this Friday but + 1.1% weekly) and especially the Nasdaq which rises +2.2 % and + 8.4% since the first January … against + 1.5% for the CAC40.
‘Graphically, the configuration remains clearly positive, the first short-term objectives 6.195 and 6.215 points remain intact. Conversely, to validate an entry into the negative phase or the beginning of a trend reversal, we will carefully monitor a new bearish exit on the respective supports 6.040 and 5.970 points’, summarize the Kiplink teams this morning.

Wall Street seems to hesitate a little to align an 8th session of increase out of 10: the last American ‘stat’ does not change the matter and yet, it could have had a positive impact.

The University of Michigan Consumer Confidence Index easily passes the symbolic 100Pts mark, reaching 100.9 points in preliminary estimate in February, well above the 99.5 point consensus .

The ‘UMich’ index is therefore up sharply from its level posted for the month of January, which was 99.8.

It seems that those polled did not establish any link at the end of January with the coronavirus epidemic.
The latest news from China does not reassure investors, but these uncertainties are offset by the conviction that the central banks will intervene massively to stem any risk of economic slowdown.

Chinese authorities said Friday they had received information regarding 5,090 additional cases of new coronavirus. They reported 121 new deaths on Thursday alone. The total number of confirmed cases on the Chinese mainland is now 63,851, for 1,380 people who died from the disease.

The day was also busy economically with a battery of indicators on the agenda in the United States: industrial production in the United States fell 0.3% in January, according to data from the Federal Reserve, the figure is below consensus.

Retail sales in the United States rose 0.3% in January, according to the Department of Commerce, after increasing 0.2% the previous month (revised from an initial estimate of 0.3%) , in line with what economists were aiming for on average.

Excluding the automotive sector, US retail sales also rose 0.3% last month, after advancing 0.6% in December 2019, and while consensus was hoping for a 0.4% gain in January.
The Dollar is once again reinforced by the figures of the day and remains in contact with its annual znith against the Euro, which relapses to the lowest, around $ 1.0835.

One of the titles most treated this Friday remains Tesla (+ 0.1% $ 804.4) which launches as soon as its announcement a capital increase of 2 billion (denying its assertions concerning the absence of plans to raise capital or to call the market) at an astronomical price of 767 dollars per share (the title was worth half as much 2 months ago), which allows you to benefit from a ‘discount’ compared to the current share price (including price had been artificially shot up from 740 to $ 810 the day before).

Elon Musk, the group’s CEO, said he would buy up to 13,037 shares for about $ 10 million (he just got rich by billions since Jan. 1), while Larry Ellison, founder of Oracle and member of the board of directors, would buy up to 1,303 shares for $ 1 million.

Tesla plans to offer 2,650,000 shares as part of this capital increase, or 3,047,500 shares if the Underwriters exercise their option fully.

In France, on the SBF120, Tarkett advanced by + 11.2% (at the head of the SBF 120) after its publication last night.

The group is followed by EDF (+ 9.7%), which published this morning a net current result of 3.871 million euros for 2019, up 57.9% compared to 2018, and an EBITDA in organic growth of 8.4% 16,708 million, for organic sales up 3.5% 71,327 million.

Canal + Group sales amounted to 5,268 million euros in 2019, up 2.0% compared to 2018 (-0.9% at constant exchange rates and perimeter).

Renault (-0.9%) publishes net profit of 19 million euros in 2019, compared to 3,451 million a year earlier, and a decrease in operating margin of 2,662 million (4.8% of sales) 950 million compared to 2018.

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