THE TREND
(Boursier.com) — Five bull sessions during the first six of 2023! And almost without breathing (-0.22% for the only day of decline on January 5)! The CAC 40 started the year with a bang and closed above 6,900 points for the first time since February 18, 2022. A performance that is all the more remarkable as Wall Street cannot say the same and finds itself lagging behind since the beginning of the year! The 6,900 points could however cause some profit taking at the opening this morning.
Jerome Powell, the head of the Fed, will intervene this Tuesday in Sweden at a symposium on the independence of the central bank. It is therefore not impossible that the latter will return to calm the ardor of the most optimistic as it has already done at the end of 2022… Two Fed officials, Mary Daly and Raphael Bostic, estimated on Monday that rates should remain high for an extended period. to put an end to inflationary pressures. For Mary Daly, president of the San Francisco Fed, it is necessary that the federal funds rate target, currently at 4.25%-4.5%, be raised to more than 5%…
WALL STREET
Wall Street tried to continue its rebound on Monday, with uneven results since the S&P 500, which still climbed more than 1% at mid-session, finally ended down 0.08% at 3,892 points and the Dow Jones gave up 0.34 % at 33,517 pts. The Nasdaq, which was up more than 2% at midday, however, maintained a lead of 0.63% at the close at 10,635 points, Tesla operating a jump of nearly 6% after its recent poor performance…
ECO AND CURRENCIES
France :
– Industrial production in France. (08:45)
UNITED STATES :
– Speech by Jerome Powell in Stockholm. (3:00 p.m.: Fed Chairman discusses central bank independence (Sveriges Riksbank International Symposium in Sweden).)
– Stocks and wholesale sales. (4:00 p.m.)
Europe:
– Spanish industrial production. (09:00)
The euro/dollar parity reached $1.0733 this morning. A barrel of Brent is trading at $79.43. An ounce of gold is traded at $1,872.
VALUES TO FOLLOW
CGG : Group business revenue in Q4 2022 is expected to be around $321 million, up 48% sequentially and up 8% proforma year-on-year, driven in particular by strong after-sales in the Gulf of Mexico and Scandinavia and by larger equipment deliveries in December. 2022 business revenue is expected to be around $931m and 2022 business EBITDAs is expected to be higher than the company’s latest guidance.
Renault Group and Punch Torino, a renowned center of excellence for propulsion systems and electronics, announce the signing of a binding memorandum of understanding on their cooperation on Renault 4-cylinder diesel engines for light commercial vehicles. Under the terms of this agreement, Punch will be able to buy, use and sell Renault’s current and future 4-cylinder diesel engines. This partnership will be brought by Renault Group to the Horse project announced during its Capital Market Day.
Manutan : In the first quarter of the 2022/2023 financial year, the Group’s activity grew by +4% compared to the same quarter of the previous financial year. This growth includes a negative currency effect and daytime effect of -0.4% and -1.4% respectively (ie business growth of +5.8% at constant exchange rates and days). Turnover amounted to 234.5 million euros, against 225.6 million euros for the previous financial year.
ADP Group reacts to the announcement by the Autorité de la concurrence of the opening of an in-depth examination phase as part of the proposed sale of 50% of Extime Food & Beverage Paris to Select Service Partner (“SSP”). The manager of the Parisian airports specifies that the joint venture model is commonly implemented by many airports in the world, and that Groupe ADP has itself been using it for more than ten years. By relying on the expertise of an industrial partner, this model has contributed to the development of the Group’s various retail and catering activities.
LATEST REVENUES/RESULTS PUBLICATIONS…
SpineGuard
THE LATEST “RECOS” FROM ANALYSTS…
Morgan Stanley resumes trackingAir France-KLM to ‘online weighting’ and switches back from ‘overweight’ to ‘online weighting’ on Edenred.
RBC goes back from ‘sector performance’ to ‘underperformance’ on EssilorLuxottica targeting 155 euros and from ‘outperformance’ to ‘sector performance’ on Klepierre aiming for a course of 23 euros.
MARKET INFORMATION
Somfy : the concert of the members of the Despature family points to 85%.
Saint Gobain : raised 1.15 billion euros on the bond market.
Altur Investment : the offer to buy back 18% of the capital is open.
IN SHORT
Energism : new DAF.
Forsee Power : contract for the first public order for coaches transformed into electric.