Europe in the red ahead of eurozone inflation and US employment figures
January 05, 2024 at 03:51 am EST
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Europe's main stock markets were down at the start of trading on Friday, with caution prevailing ahead of the publication of two eagerly-awaited indicators: eurozone inflation and the US employment report.
In Paris, the CAC 40 lost 0.75% to 7,394.43 points around 08:45 GMT. In London, the FTSE 100 was down 0.6%, while in Frankfurt, the Dax was down 0.61%.
The EuroStoxx 50 index was down by 0.69%, the FTSEurofirst 300 by 0.51% and the Stoxx 600 by 0.48%.
Among the stocks, Remy Cointreau < RCOP.PA fell 7.02% and Pernod Ricard lost 3.73%, as the Chinese Ministry of Commerce announced on Friday the launch of an anti-competitive investigation into brandy imported from the European Union.
LVMH , which also owns spirits brands such as Hennessy, is down 1.57%.
Sodexo dropped 1.66% following the publication of sales in line with expectations in the first quarter and the expected confirmation of annual targets. Investors are focusing on Wednesday's investor day for the Pluxee division, which is due to go public on February 1.
(Written by Blandine Hénault, edited by Kate Entringer)
Pernod Ricard is the world's No. 2 in the production and marketing of Premium and Prestige spirits and wines. Net sales break down by family of products as follows:
- spirits and champagnes of strategic international brands (63.4%): Absolut (12.7 million cases sold in 2022/23), Jameson (10.7 million), Ballantine's (8.8 million), Chivas Regal (5.1 million), Malibu (4.7 million), Ricard (4.4 million), Havana Club (4.3 million), Beefeater (3.7 million), Martell (2.4 million), The Glenlivet (1.6 million), Mumm (0.6 million), Royal Salute (0.3 million) and Perrier-Jouët (0.3 million);
- local strategic brands' spirits (17.7%): Seagram's, Kahlua, Olmeca, Seagram's Gin, Ramazzotti, Imperial, Pastis 51 and Clan Campbell brands, etc.;
- speciality brand's craft spirits (6.2%): Italicus, Lillet, Pernod, Suze, Augier, Malfy, Jefferson's, Powers and Redbreast brands, etc.;
- strategic wines (3.9%): Jacob's Creek, Kenwood, Brancott Estate, Campo Viejo, Church Road, George, St Hugo, Stoneleigh, Ysios and Wyndham brands;
- other (8.8%).
At the end of June 2023, the group has 96 production sites worldwide.
Net sales are distributed geographically as follows: Europe (28.5%), Americas (28.7%) and other (42.8%).