Morning meeting France / Europe – The pandemic, still omnipresent, stops the rebound

( – European equity markets are expected to decline this morning. If the US Senate adopted (after the closure of Wall Street) the plan to support the economy of $ 2,000 to deal with the Covid-19, the rebound of the last two days deflates in the face of health and economic risk the pandemic. In terms of statistics, the business climate index in France will be published early in the morning. On the securities side, Legrand announced the suspension of its 2020 objectives, JCDecaux, for its part, withdraws its dividend proposal for the 2019 financial year.

Technical analysis of the CAC 40

From the point of view of graphical analysis, the DayByDay design office observes a new white candle with a close at the top of the session, in volumes still high at 6.1 billion euros. The French index continued its bullish rebound: prices are now testing resistance at 4,438 points, the lower limit of the bearish gap. This obstacle will not be easy to overcome the first time.

The values ​​to follow today


Aubay published net income of 26.4 million euros for the 2019 financial year, down 3.4% compared to 2018 due to an increase in the effective tax rate. Operating profit came to 39.8 million euros (+ 0.8%) after taking into account the cost of performance shares for 1.5 million and the item “other operating income and expenses” for 1.5 million mainly restructuring charges. Finally, the turnover of 417.8 million euros increased by 4.2%. The proposed dividend is 0.60 euro per share.


Eurobio Scientific has announced CE marking for its test of Covid-19. This proprietary kit EBX 041 SARS CoV2 follows the design recommended by the National Reference Center and has been validated on clinical samples with an independent hospital. It is a multiplex kit with 3 targets, 2 for identification of the virus and a target for a control integrated into each patient test. The test is produced internally by Eurobio, in its recently renovated Ulis premises and follows the ISO 13481 regulatory standard process.


JCDecaux SA has announced the withdrawal of its dividend proposal for the 2019 financial year in order to strengthen its liquidity, its balance sheet, which is one of the least indebted in the Outdoor Communication industry, as well as its financial flexibility in response to the unprecedented global crisis caused by the Covid-19 pandemic. The company has also indicated that it is withdrawing organic sales growth forecasts for the first quarter of the current fiscal year.


Legrand announced the suspension of its targets published on February 13, due to global health and economic deterioration due to the rapid spread of Covid-19 in many countries. The group stresses that these prospects were understood “apart from a major change in the economic environment possibly linked to the evolution of the world health situation”. He adds that he works very actively to protect his profitability and his free cash flow.

Macroeconomic figures

In France, the business climate index for March will be published at 8.45 a.m.

In the United Kingdom, the BoE’s monetary policy decision will be announced at 1 p.m.

In the United States, investors await weekly jobless claims, growth in the fourth quarter and the trade balance in February at 1:30 p.m.

Yesterday in Paris

In the aftermath of a vigorous rebound, the European stock markets managed to continue on their good streak. The CAC 40 gained 4.47% to 4,432.30 points and the EuroStoxx 50 gained 2.41% to 2,780.52 points. A compromise was finally found in the United States Senate concerning a vast stimulus plan of $ 2,000 billion. Volatility was however very present during this session in view of the extent of the Covid-19 crisis and its acceleration across the Atlantic, as well as the sharp decline in the German Ifo business climate in March.

Yesterday on Wall Street

The American indices closed in dispersed order pending the validation of the stimulus plan of 2,000 billion dollars by the United States Senate. The slow negotiations, however, weigh on the indices at the end of the sessions when the WHO recently estimated that the country could potentially become, after Europe, the new epicenter of the Covid-19 pandemic. At the sound of the bell, the Dow Jones gained 2.39% to 21,200.55 points while the Nasdaq Composite fell 0.45% to 7,384.30 points.