After a brief moment of floating, European stock markets have come to their senses and are now moving into positive territory. However, the context is not without concerns, whether it is the progression of the Covid-19 pandemic, and its economic impact, or the lack of concrete progress on the file of the new US recovery plan. The Treasury Secretary has refused to extend several of the Fed's emergency loan programs, which will expire at the end of the year. Around 11:50 am, the CAC 40 gained 0.89% to 5,523.16 points and the EuroStoxx50, +0.68% to 3,475. 36 points.

Altice Europe rose 0.60% to 4.35 euros after the publication last night of results above expectations. Patrick Drahi's group, listed in Amsterdam, reported revenue in the third quarter of 2020 of 3.774 billion euros, up 3.2% year-on-year (+4.1% at constant exchange rates), while the consensus of analysts was betting on 3.703 billion. Adjusted EBITDA was up 5.1% (+6.1% at constant exchange rates) to €1.482 billion, compared with €1.434 billion expected.

Veolia rose 1.50% to €18.63 while Suez gained 0.6% to €16.23 a few hours after the Nanterre Commercial Court's decision in favour of the world's number one environmental services company. The President of the Commercial Court has indeed prohibited Suez from taking any decision likely to render irrevocable the foreign system of inalienability of Water France suez, designed and put in place to dissuade Veolia from carrying out its takeover project.

Under the blow of a deterioration of Citi, Ubisoft (-1.42% to 79.16 euros) shows one of the largest declines in the SBF120 index. The American bank is now Neutral on the video game publisher against Buy before and aims for 85 euros. While the research firm expects Ubisoft to exceed its annual targets thanks to the success of Assassin's Creed Valhalla, it warns that the emergence of a vaccine poses a double risk. He suggests that engagement, which has recently increased, is weakening and penalizing growth. It could also push investors towards cyclical/value companies, reducing support for Ubisoft's valuation multiple.

Today's macroeconomic figures

In Germany, producer prices rose by 0.1% in October 2020 compared to the previous month and fell by 0.7% year-on-year. These developments are in line with the expectations of the consensus.

In the euro area, investors will see consumer confidence in the euro area from November to 4 p.m.

Around 11:50 a.m., the euro crumbled 0.13% to $1.1855.