(AOF) – European markets continue to rise. Investors expect good management from China regarding the coronavirus. If the massive monetary injection equivalent to 156 billion euros reassures, the epidemic should weigh on the Chinese economy in the short term. The toll of the contagion is now 425 dead and more than 20,000 infected. In Paris, Orange shows the sharpest decline in the CAC 40 following a drop in Berenberg's recommendation. At around noon, the CAC 40 gained 1.22% at 5,903.38 points while the EuroStoxx50 gained 1.24% at 3,706.82 points.
In Europe, BP jumped nearly 4% to 470,275 pence after the publication of 2019 net profit slightly above expectations and the announcement of a dividend up 2.4% to 10.5 cents per share. The performance of the oil company is however hardly flamboyant. Penalized by the weakness of oil, gas and refining margins, its net profit, excluding exceptional items and costs of replacement of reserves adjusted and attributable to shareholders, fell 21.3% to $ 9.99 billion. Analysts had expected $ 9.7 billion, according to Refinitiv.
In Paris, Bonduelle is stable at 21.70 euros after the publication of contrasting half-yearly sales and prudent prospects. The specialist in canned vegetables was penalized in the first half of the year by the health alert linked to contamination with the bacteria E. If this bacterium was not found in the group's salads, it led the American and Canadian authorities to temporarily stop the marketing of some of its products. This event, which cost the family group $ 3.5 million, will weigh on its annual results.
Orange signs the biggest drop in the CAC 40 penalized by the drop in Berenberg's recommendation. The title gives up 1.45% to 12.61 euros. The telecommunications operator suffered from the drop in recommendation from broker Berenberg. This changes from Purchase to Store. The broker is also lowering its price target and is now counting on 14.3 euros against 16.3 euros. Berenberg believes that the telecommunications company lacks positive catalysts and that there are more attractive options in the sector in Europe.
Macroeconomic figures of the day
In the euro zone, producer prices were stable in December after + 0.1% in November (revised figure of + 0.2%). Economists expected + 0.3%. Prices increased 0.7% in 2019 compared to 2018.
In the United States, orders for industry in December will be published at 4 p.m.
Around noon, the euro lost 0.04% to 1.1055 dollars.
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