(AOF) – European markets are on a downward trend, due to fears regarding the persistence of inflation and comments deemed restrictive by certain members of the Fed. Yesterday, the producer price index in the United States exceeded expectations. In Germany, they fell less than expected. In terms of values, Air-France KLM posted the largest increase in the SBF120 following the presentation of results that exceeded expectations. Around 12 noon, the CAC 40 lost 0.74% to 7,311.37 points following four consecutive rising sessions. The EuroStoxx50 lost 0.84% to 4,261.18 points.
Air France-KLM posted the largest increase in the SBF 120 this morning (+5.83% to 1.77 euros) following the publication of annual results that exceeded expectations. Its net income group share amounted to 728 million euros over the period, following two years of massive losses including a loss of 3.3 billion in 2021. Operating income stood at 1.2 billion euros , with an operating margin of 4.5%, higher than in 2019 (4.2%) despite a sharp rise in fuel prices. The turnover of the Franco-Dutch airline jumped 84.4% to 26.4 billion euros, close to that of 2019 (27.2 billion), with an occupancy rate of 84%.
The luxury group Hermès fell slightly in Paris by 0.86% to 1,726 euros following the publication of solid annual results for 2022. Its net income group share increased by 38% to 3.4 billion euros. Current operating income reached 4.7 billion euros, an improvement of 33%. Consolidated net income group share is 3.36 billion euros (29% of sales) compared to 2.44 billion euros in 2021, an increase of 38%. The Factset consensus expected EBIT at 4.55 billion euros and net income at 3.2 billion euros according to Invest.
Safran (+0.16% to 134.32 euros) unveiled adjusted net income, group share (a format put forward by the company) of 1.178 billion euros compared to 760 million euros in 2021. The aeronautical equipment manufacturer’s current operating profit came to 2.4 billion euros, up 33.4% (+28.0% on an organic basis), “mainly driven by the Propulsion and Equipment & Defense “. Revenue amounted to 19.035 billion euros, up 24.8% compared to 2021 and 15.8% on an organic basis.
The macroeconomic figures of the day
The consumer price index in France, harmonized according to European standards (HICP), reached 7% year on year in January, according to data published Friday by INSEE, confirming his first estimate. Compared to December, HICP inflation came out at 0.4%, once more in line with expectations. The consumer price index (CPI), or inflation calculated according to French standards, is also confirmed at 6% year on year in January and 0.4% month on month.
The German producer price index (PPI) in January came out down 1%, once morest a consensus of -1.6% following -0.4% the previous month.
In the United States, the price of imports in January will be known at 2:30 p.m. and the index of leading indicators in January at 4:00 p.m.
Around noon, the euro lost 0.31% to 1.0637 dollars.
