THE TREND
(Boursier.com) — The CAC40 had a sixth positive session this Friday, closing at 8,219 points (+0.38%). A new historic record was reached in the middle of the day for the Paris Stock Exchange index at 8,259 points. He is not the only one to shine, since London and Frankfurt also hit records this weekend, as did the Stoxx 600 index, which brings together 600 of the main European stock market capitalizations.
The previous CAC40 record dates back to March 28. After a slightly more complicated month of April on the stock market, the indices are buoyed by the solid results of companies in the first quarter and by the resumption of bets on the next reductions in interest rates. In London, the Footsie index also benefits from good news for the economy: British GDP grew at its fastest pace in almost three years in the first quarter of 2024, allowing it to emerge from recession.
RISING VALUES
* Teleperformance climbs another 3.8% to 102.6 euros, still helped by the group’s latest quarterly publication and the maintenance of its 2024 objectives. Among the latest broker opinions, Goldman Sachs is ‘neutral’ on the value, but with a adjusted objective up from 114 to 130 euros.
* Great rose by almost 3% to 103.4 euros, very close to its records. Citigroup raised its recommendation from ‘sell’ to ‘buy’ as well as its price target to 125 euros compared to 85 euros previously.
* Schneider (+1.8% to 234 euros) also benefits from a rating from Citigroup which remains neutral but raises its price target from 210 to 235 euros.
* Sanofi (+1.2% to 94.3 euros) announced a co-exclusive licensing agreement with the American biotechnology company Novavax for the co-commercialization of a single adjuvanted COVID-19 vaccine from Novavax globally (excluding countries with advance purchase agreements and India, Japan and the South Korea, where Novavax has partnership agreements). The agreement includes an exclusive license for Novavax’s adjuvanted COVID-19 vaccine for use in combination with Sanofi’s influenza vaccines. Sanofi will also take a minority stake (less than 5%) in Novavax.
* Axa gained 0.8% to 33.7 euros. BNP Paribas Exane remains at ‘outperform’ with a price target of 38 euros.
FALLING VALUES
* Only one drop greater than 1% among CAC40 values: Airbus drops 1.6% just below 160 euros.
* Medincell loses 3% below 15 euros after a very good recent performance and very encouraging phase 3 results announced this week for its monthly long-acting subcutaneous injection of olanzapine, a second generation antipsychotic developed by the Teva laboratory for adults with schizophrenia.