ASSOCIATION OF EMPLOYEE SHAREHOLDERS
OF VEOLIA ENVIRONNEMENT
ASSOCIATION OF EMPLOYEE SHAREHOLDERS
OF VEOLIA ENVIRONNEMENT
Why markets have fallen sharply since September
After a constant rise since early 2016, the CAC 40 and, more generally, the European stock indexes hit a 10-year high in late May 2018, after the 2008 financial crisis.
Since the beginning of the financial crisis, the central banks of major countries have engaged in accommodative monetary policies that have helped counter the risk of long and deep economic crisis. Businesses and governments have been able to finance themselves at very low interest rates and revive the economy at an annual sustained growth rate of approximately 4 % this year, which seems difficult to sustain.
The global economy should have started to slow some time ago. The exceptional duration of this growth cycle has resulted in financial market observers and operators being particularly attentive and twitchy about any change in trend or risk of change induced by the political situation.
Three factors weighed on the stock market trend this summer:
1 / The rise in interest rates in the United States
The USA’s excellent economic health led the Federal Reserve, the US central bank, to initiate monetary tightening to avoid an escalation in inflation. Rising rates making money more expensive, operators expect an economic slowdown in the near future.
2/ The economic slowdown in Europe
Although the trend is still good, several countries, such as France, Germany, Italy, and the United Kingdom, have reported a slowdown, which is weighing on business prospects.
This is exacerbated by political uncertainty with Brexit, the situation in Italy, and the possible end of Angela Merkel’s reign.
3/ Trade tensions between the United States and China
The fear of a slowdown in the Chinese and US economies and strong trade tensions also weighed on confidence in the global economic situation.
The uncertain environment initially resulted in a wait-and-see attitude, a stagnation of financial markets, and a rise in risk indicators.
The first downward revisions and cautious messages from a number of business and all sectors in late September were the trigger for the decline.
Concerns about the Chinese economic slowdown (even though the economy continues to grow at an annual rate of 6.5 %) have weighed on both cyclical sectors, such as the vehicle sector (Peugeot, Renault and equipment manufacturers, such as Valeo or Michelin, lost 20-30 % over 3 weeks) and consumer goods sectors, such as the luxury sector (Kering and LVMH lost 17-25 % over the same period).
Difficulties specific to companies resulted in very sharp drops (digital sector companies: ATOS -25 %, SOPRA-STERIA -27 %, SAP -7%; construction: Bouygues -12 % in one day and -18 % over 4 days, HeidelbergerCement, etc.).
As such, the CAC 40 was down 10 % in October; the decline in US and European markets are comparable.
For the entire CAC 40, only 3 values are up in October (Publicis, Sanofi, and Carrefour). Defensive stocks resist: Orange -0.2 %, Veolia -2 %.
As long as concerns about the impact of rising sovereign spreads, on the one hand, and the growth path of China and, more generally, the global economy, on the other hand, remain prominent, risk aversion is expected to remain strong on financial markets.
Make your shareholding meaningful!
Our aim is to ensure that employee shareholders are recognized as key players in Veolia’s strategy and as absolutely decisive stakeholders in the successful running of the company.
We want to mobilize our employee shareholders so as to make their voice better heard by the group’s management and governance bodies. We want to help stabilize the group’s capital.
The Association of Employee Shareholders of Veolia (AAVE) is here to help you and has four stated objectives:
We are all at the heart of the group’s achievements and we contribute to its success through our daily work. Let’s be a source of inspiration for its future plans and let’s share our ideas with the group’s governing bodies.
Let’s be diverse, engaged and plentiful! We are Veolia’s intangible capital and leading force.
Not yet up to speed with financial analysis of our group’s work? No worries! That is why we are here.
We pledge to arrange two meetings every year with Veolia economic and financial community spokespeople in order to get to grips with the figures and share the issues at stake.
Because you are an employee shareholder, you are a key part of the company and your voice needs to be heard.
We pledge to defend your interests, support the proposals made by the AAVE and create opportunities to influence and co-develop our group’s future
The AAVE office is composed of:
The executive committee is composed of:
AAVE also represents Veolia employees in the supervisory board of “Sequoia Classique”’s company collective investment fund since 2016 with 56% of votes.
Employee shareholders play a full part in the corporate strategy and now account for 1.1% of Veolia Environnement’s capital.
How to manage them?
– Consult the various ways of holding shares
– Sign in registered (FR)
This management method is recommended for long-term shareholders. It brings many financial benefits and allows a direct relationship with the issuing company (Société Générale)
– What tax? (FR)
For more financial information about Veolia Environnement reporting tools, visit the finance space: Click here
Veolia Environnement offers its shareholders five great appointments in the year:
By joining the association of employee shareholders of Veolia Environnement, we offer you to benefit from our reading and analysis of these events.
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