Stocks are on the rise, Pernod climbs after its results – archyworldys

PARIS (Reuters) – The main European stock markets opened higher on Wednesday, ready to begin the first session in September on the same dynamic as throughout August before several economic indicators including the ADP report on US employment .

In Paris, the CAC 40 index gained 1.16% to 6,757.69 points at 07:40 GMT. In Frankfurt, the Dax takes 0.87% and in London, the FTSE takes 0.7%.

The Eurozone EuroStoxx 50 index is up 1.15%, the FTSEurofirst 300 0.84% ​​and the Stoxx 600 0.79%.

A large majority of European sectors are moving in the green, starting with the transport and leisure sector, the Stoxx index of which has gained 1.54% after losing more than 1% over the last few sessions.

In Paris, Pernod Ricard gained 3.31%, at the top of the CAC 40 index, after having published current operating income higher than the group’s expectations for the 2020/21 financial year.

Among the few components of the CAC 40 in the red, Carrefour fell 4.07%, the holding company of Bernard Arnault, Agache, having announced the sale of its stake of about 5.7% in the distributor, at a price of 16 euros per share.

For analysts at Bryan Garnier, this surprising decision sends a negative signal and looks like a “capitulation” of Bernard Arnault who shows a significant loss on investment, of the order of 60%.

Analysts believe that Carrefour remains a group “attractive at this level of valuation with a commercial recovery which is finally materializing”. They stress that the distributor “could seem more permeable to the arrival of activists and hostile buyers” but that they are struggling to identify potential buyers beyond the Canadian Couche-Tard.

The largest increase in the Stoxx 600, bioMérieux climbed 5.83% after confirming its annual objectives and posting organic sales growth of 7.9% in the second quarter.

The market is macroeconomically awaiting the publication of the final manufacturing PMI indices in Europe before the results of the monthly ADP survey on private employment in the United States in the afternoon, prelude to the monthly report of the Department of Labor on Friday .

(Laetitia Volga, edited by Blandine Hénault)