(CercleFinance.com) – The CAC40 confirms its positive trend and gains nearly 2%, around 7,160 points, the day after a first session of the week undermined by the outbreak of war in the Middle East which has rekindled geopolitical fears.
This return to confidence comes in the wake of a resilient close on Wall Street last night, resilience that Deutsche Bank attributes to accommodating comments made by Lorie Logan, a Fed official who is nevertheless reputed to be a ‘hawk’.
‘Lorie Logan said higher yields could mean there is less need for the Fed to raise rates further, with financial conditions tightening substantially in recent months,’ the German bank explains.
Yesterday, certain stocks were hit hard by the news in the Middle East, notably Air France-KLM (-8.5%), the Accor hotel chain (-2.9%) and even LVMH (-2. 6%).
Regarding LVMH, it should be noted that the world number one luxury goods company must unveil its activity report for the third quarter after the close this evening, thus launching the season of quarterly publications on the Paris Stock Exchange.
While waiting for this major meeting of the week, investors will be able to react to the profit warnings announced last night by the active pharmaceutical ingredient company Euroapi and the furniture distributor Maisons du Monde.
The active pharmaceutical ingredient company Euroapi announces that it has revised downwards its objectives for 2023, now estimating that the growth in its turnover should be between +3 and +5%, compared to +7 to +8%. previously.
Maisons du Monde announces a lowering of its annual objectives ‘due to a deterioration in consumer confidence observed in Europe, affecting overall non-food consumption for the second half of the year’. According to him, its third quarter sales should decrease by 9.4% compared to the same period in 2022.
Getlink announces that its LeShuttle shuttle service transported 211,819 passenger vehicles in September 2023, up 4% compared to the same month of 2022, benefiting in particular from the impact of the Rugby World Cup.
Eutelsat announces the signing by Marlink of a commitment for Ku-band GEO broadband capacity on board the Eutelsat 10B satellite, covering Europe, the Middle East and Africa, without forgetting the main links maritime regions of the globe.
Stifel maintains its hold rating on Hermès shares, with an unchanged price target of 1,850 euros. The analysis office estimates that Hermès should once again demonstrate its defensive characteristics in the 3rd quarter of 2023. Stifel thus models sales growth of +14% at constant exchange rates.
While reducing its price target from 443 to 423 euros on L’Oréal, Barclays maintains its ‘overweight’ recommendation, anticipating organic growth of 11.7% in sales for the third quarter of 2023 for the world number one cosmetics company.
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