Saint-Gobain falls on the stock market, concern over the need for building materials! – Insolentie

Saint-Gobain falls on the stock market, concern over the need for building materials!  - Insolentie

Saint-Gobain was down 5%, which is the biggest drop in the CAC 40.

Indeed, one of its competitors, Irishman Kingspan, is concerned about the sharp deterioration in the economy over the past two months.

“Insulation specialist Kingspan collapses by over 13% in Dublin. He just warned of a severe deterioration in market conditions as the global economy falters in the face of soaring commodity prices.

Kingspan management said in a statement that it has seen “the mood in most end markets deteriorate over the past two months, with order volume down significantly from May-June 2021, albeit” on the rise over the same period. period of 2019 “. Its backlog for insulating panels is down 2% in volume at the end of May after being ahead of 19% at the end of March.”

Between the war in Ukraine, rising interest rates and inflation, there is no reason for the economy to continue to do well, nor for families to rush to the isolation work, which is increasingly costly to do, since everyone wants to do them at the same time.

The energy “transition” of buildings is in great danger of turning into a collective fiasco.

Carlo SANNAT

“This is a ‘presslib’ article, ie exempt from reproduction in whole or in part provided this paragraph is reproduced after it. Insolentiae.com is the site on which Charles Sannat speaks daily and offers a sassy and uncompromising analysis of business news. Thanks for visiting my website. You can subscribe for free to the daily newsletter on www.insolentiae.com. “

Source Les Echos.fr here


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