THE TREND
(Boursier.com) — Wall Street took a nose dive yesterday! The upward revision of U.S. growth in the third quarter, from 2.9% to 3.2%, heightened concerns about continued monetary tightening by the Fed, especially as the PCE price index” core”, the Federal Reserve’s preferred inflation measure, was also revised to 4.7% on an annual basis, against an announced 4.6% the previous month.
The CAC 40 has also suffered the costs, losing all the ground accumulated since the opening and returning a little above 6,500 points. This morning, we expect a slightly positive opening thirty minutes from the start of the session. General market sentiment remains fragile, with investors torn between the still-high risks of recession and the ability of central banks to pursue strict monetary policy in the event of better-than-expected growth and therefore triggering a recession…
Today’s session is the last before the Christmas break since the Paris market will be closed on Monday December 26th.
WALL STREET
Wall Street took a nose dive the day after a great rebound session. The indices thus erase their gains from the previous day with a S&P500 which gives up 1.45% to 3,822 points, the Dow Jones fell back by 1.05% to 33,027 points and the Nasdaq yields 2.18% to 10,476 pts.
ECO AND CURRENCIES
France :
– Producer price index in France. (08:45)
UNITED STATES :
– Orders of durable goods. (2:30 p.m.)
– Household income and expenditure. (2:30 p.m.)
– Final index of US consumer sentiment as measured by the University of Michigan. (4:00 p.m.)
– Sales of new homes. (4:00 p.m.)
Europe:
– Final third quarter Spanish GDP. (09:00)
The euro/dollar parity reached $1.0616 this morning. A barrel of Brent is trading at $81.67. An ounce of gold is traded at $1,796.
VALUES TO FOLLOW
DBV Technologies announces the lifting of the partial clinical hold by the FDA of the pivotal Phase 3 VITESSE clinical study. DBV expects to begin the patient selection process in the first quarter of 2023, with the last patient to be selected in the first half of 2024 and expects the publication of the first results of the VITESSE study for the first half of 2025. The company reaffirms that the available cash is sufficient to finance the operations until the first results of VITESSE are obtained.
GTT appealed, before the Supreme Court of Korea, the decision of the Seoul High Court, rendered on December 1, 2022. This decision partially upheld GTT’s appeal against the corrective order of the Korea Fair Trade Commission (KFTC) by canceling the administrative fine of 9.5 million euros paid by the Company, but it confirmed the obligation for GTT to separate the technological license agreement from the technical assistance if the Korean shipyards request it. The appeal made by GTT concerns the obligation to separate the technological license from the technical assistance. It will be accompanied by a request for suspensive effect.
HRS and Engie Solutions are combining their know-how to accelerate the completion of hydrogen-related projects, with a target of 15 projects by 2026, including 4 by 2024, as a priority for carbon-free mobility ecosystems. Engie Solutions and HRS are thus taking a new step by formalizing a founding strategic partnership for hydrogen mobility which will extend until 2026. This agreement will make it possible to share the complementary industrial know-how of the two partners with the aim of responding effectively and quickly the needs of public and private players in terms of hydrogen infrastructure.
Agricultural credit SA announces that Banco BPM (BBPM) and Crédit Agricole Assurances (CAA), a subsidiary of Crédit Agricole SA, have signed a memorandum of understanding for the establishment of a long-term bancassurance partnership. The latter aims to provide non-life insurance products and related services through BBPM’s distribution networks.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
Fountaine Pajot
THE LATEST “RECOS” FROM ANALYSTS…
– Portzamparc adjusts the sight on Fountaine Pajot from 149.5 to 153 euros (‘purchase’).
– Oddo BHF downgrades Bollore to ‘neutral’ with 6.6 euros in the viewfinder.
MARKET INFORMATION
Bluelinea : Apicil holds 60.40% of the capital.
AB Science : drawdown of the first tranche of 6 ME under the financing with the EIB.
GenSight Biologics obtains 12 ME of financing through a convertible bond issue.
IN SHORT
Valneva completes marketing authorization dossier with the FDA for the chikungunya vaccine.
Cellectis : UCART22 administered to a first patient in acute lymphoblastic leukemia.
Neoen launches construction of its first power plant in Canada: Fox Coulée (93 MWp).
Kumulus Vape : completes two acquisitions.