[ad_1]
THE TREND
(Boursier.com) — Confirmed jump in the CAC40 this Friday with an increase of 0.85% to 7,541 points while the Paris stock exchange showed a 4% decline last night since the start of the week.
Strong US employment figures helped confirm the rebound this afternoon. According to the US Department of Labor, non-agricultural job creations in the United States for the month of September 2024 stood at 254,000, compared to a consensus of only 140,000 and a revised reading of 159,000 (against 142,000) a month earlier. The unemployment rate stood at 4.1%, compared to a market consensus of 4.2% and a level of 4.2% also a month earlier. Operators showed an initial positive reaction to this robust report on the American employment situation. However, this means that the Fed will have less room to maneuver to lower its key rates.
The barrel of oil is not weakening with Brent above $78. It must be said that the United States would, according to Joe Biden, discuss potential Israeli strikes against Iranian oil installations, following the missile attack launched by Iran against Israel. Biden, on the other hand, said he was opposed to Israeli strikes against Iranian nuclear facilities.
In France, Prime Minister Michel Barnier specified that his plan to temporarily increase corporate taxes would concern those whose turnover exceeds 1 billion euros, citing 300 companies concerned, i.e. at least the CAC40 and most of the SBF120 companies.
RISING VALUES
* Severe bouts of fever Ubisoft which suddenly soared by 33% to 14.2 euros. According to the indiscretions of ‘Bloomberg’, the Guillemot family and Tencent, the two largest shareholders of the video game publisher, could buy the company. Both sides have spoken with advisors to help them explore ways to stabilize Ubisoft and strengthen its value, according to agency sources. One of the possibilities mentioned would consist of an association between the two shareholders with a view to delisting the company. This information comes as Ubisoft has lost half of its value since the start of the year and only weighs around 1.4 billion euros on the stock market (before the current surge). The discussions are at an early stage and there is no certainty that they will result in a transaction. Tencent and the Guillemot family are also considering other alternatives, according to the sources.
* Elis jumped 10% to 20.5 euros. The group will not enter the United States through the front door. Reacting to the latest rumors, the group confirms having “engaged in conversations with Vestis and UniFirst”. However, he specifies that he “ended these two discussions, neither of which allowed Elis to carry out a transaction in accordance with its strict financial discipline”.
* Renault (+3% to 37 euros) and Suez have signed new strategic agreements strengthening their collaboration around a dedicated company created at the initiative of Renault: The Future Is NEUTRAL. SUEZ takes a 20% stake in the capital of The Future Is NEUTRAL, alongside Renault Group, now an 80% co-shareholder. During this operation, this company benefits from a contribution of 140 million euros from its two shareholders with a view to accelerating and developing its activities. The completion of this participation and contributions is subject to prior regulatory authorization. Together, the two groups will develop design activities with a view to recycling, reverse logistics, automobile waste management and even closed-loop recycling of materials intended for the production of new cars.
* 4th session of increase for TotalEnergies this Friday (+1.8% to 62.7 euros) which continues to benefit from the rapid rise in crude prices against a backdrop of escalating violence in the Middle East and threats of bombing of Iranian oil and nuclear sites by Israel.
* Saint-Gobain rose by 1.9% to 81.6 euros, while the broker Citigroup remains a buyer on the value with an objective which goes from 90 to 95 euros.
* Nexity (+2% to 12.6 euros) remains driven by the hope of extending the zero-rate loan and relaunching support for rental investment. Measures which remain to be validated in the PLF 2025.
FALLING VALUES
* Emeis lost 5% to 5.4 euros after its interim publication. Over the entire first half, the retirement home operator achieved a turnover of 2.772 billion euros, up +9.2% on a current basis, including +8.9% in organic growth. . This growth reflects the increase in occupancy rates and favorable price increases across all businesses and across all geographic areas of the Group. Overall, the Group’s average occupancy rate increased by +2.6 points to 85.3%. Ebitdar stood at €339 million over the period, up +0.8%, representing a margin of +12.2%. Operating profitability continued to be temporarily affected by the measures implemented necessary for the gradual normalization of the Group’s occupancy rates, aimed at strengthening the quality of care and support. These measures have an immediate effect on personnel costs and a progressive effect on turnover. A shift which temporarily weighs on Ebitdar margin levels. The inflationary episode also impacted the Group’s margin while the occupancy rate in retirement homes in France remains below its normative level. The Group’s share of net income remains negative at -257 ME, although a notable improvement of +114 ME compared to the first half of 2023. Net free cash flow before financing stands at -178 ME, an improvement of +111 ME over one year. The Group’s net financial debt stands at €4.425 billion, down -217 million compared to December 31, 2023 (€4.642 billion).
* Strongest drop in the CAC40, Pernod Ricard lost 1.4% to 131 euros while, on the broker side, the mood remains gloomy, like BNP Paribas Exane which maintains its ‘neutral’ recommendation with a target reduced from 125 to 122 euros.
* Verallia fell by 2.4% to 25.6 euros. Oddo BHF lowered its target from 40 to 34 euros (‘outperform’).
[ad_2]
Source link -87