(CercleFinance.com) – Pending a first salvo of corporate results in the United States, the Paris Stock Exchange is starting the session on an optimistic note. The CAC40 jumped around 0.8% to 5930 points, the day after a volatile session.
The flagship Parisian index finally ended Thursday with a gain of more than 1%, despite a short-lived dip in the early afternoon following the publication of stronger-than-expected US inflation last month, at 8.2% on an annual basis.
This Friday, eyes will turn to retail sales and import prices for September in the United States, but especially to quarterly publications from major banks such as JP Morgan Chase, Morgan Stanley and Citigroup.
‘These results will allow us to know to what extent the risk of economic deterioration and business failures weighs on the models and to gauge the positive impact of the rise in rates on earnings’, indicated Kiplink last Tuesday.
While waiting for this meeting, on the old continent, operators took note of the consumer price index in France for the last month, then of the trade balance in the euro zone for the month of August.
Over one year, consumer prices in France increased by 5.6% in September, slowing down after +5.9% in August, according to INSEE, which therefore confirms its provisional estimate published at the end of last month.
According to the first estimates published by Eurostat, the euro area recorded a deficit in trade in goods with the rest of the world of 50.9 billion euros in August 2022, against a surplus of 2.8 billion euros a year earlier. early, in August 2021.
On the securities side in Paris, Danone announces its decision to launch the process of transferring control of its Essential Dairy and Plant-based (EDP) activity to Russia, ‘the best option to ensure the continuity of the operational performance of this activity’.
Thales has announced a new partnership with Microsoft, to offer a joint offer of enhanced services for detecting and responding to cyber threats within cloud environments based on the American’s Sentinel and Defender solutions.
Pernod Ricard announces a significant increase in its minority stake in Sovereign Brands’ super-premium wines and spirits portfolio. “This additional investment will strengthen the ambitious long-term partnership initiated in September 2021 and already marked by success,” indicates the group.
Stifel maintains its ‘hold’ recommendation and its target price of 200 euros on Pernod Ricard, the day after the announcement by the spirits group that it would increase its stake in Sovereign Brands.
Oddo BHF reaffirms its ‘outperformance’ opinion on Engie but with an adjusted price target of 18.5 to 17 euros, following the average WACC increase of around 130 bps to 7.2%, and with estimates now 18 % and 8% above the 2023-24 consensus.
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