(Boursier.com) — THE TREND
The CAC40 ended the week better on Friday. The Parisian index recovered 1.51% to 5,762 points at the end of this last session of a particularly difficult month of September on the financial markets…
Good news of the day, the increase in consumer prices slowed in France in September: According to preliminary data from INSEE, annual inflation stood at 5.6% over the month after +5.9% in August , against a consensus of 5.9%. An inflection due to the slowdown in energy and service prices… The prices of manufactured products increased over one year at a rate close to the previous month and those of food should accelerate, specifies INSEE. Over one month, consumer prices fell back by 0.5%, after +0.5% in August. Services prices are contracting due to the more marked seasonal decline than last year in the prices of certain tourism-related services. For the third consecutive month, energy prices fell in the wake of oil product prices.
On the bond markets, it is finally time to relax on both sides of the Atlantic with rates falling quite sharply. On the foreign exchange side, the euro is fighting to regain parity against Uncle Sam’s currency (stable at $0.98).
RISING VALUES
Guillemot rebounded 14%, the day after its midpoint. The group unveiled an operating profit of 25 million euros in the first half, up 88%, representing an operating margin rate of 25.5%, while turnover increased by 39% to 98 .1 ME. In the first half of 2022, the Group built up buffer stocks to overcome the shortage of electronic components and support business growth. The Group forecasts growth in revenue and operating income for the 2022 financial year. 2023 also promises to be dynamic with significant video game news and the ramp-up of new products.
S30 recovers 9% with Xilam (+7%) and Hexaom
Orpea rises 6.5% after a 21% plunge on Thursday. The title of the dependency care specialist was abandoned after the confirmation of a marked deterioration in its financial situation and a possible break in banking covenants in the second half.
Deezer : +6% with Mersen, Antin
quadient : +5% with Mercialys, Technicolor, Gorgé, Eutelsat, Nexity
Nexans : +4.5% followed by JC Decaux, Argan and Amundi
Tikehau : +4% with Gecina, DS, Somfy, Faurecia, Korian, Saint-Gobain
Societe Generale earn 2%. Big turmoil in the payments industry. Following the announcement by Worldline the acquisition of a 40% stake in Online Payment Platform, the Societe Generale announces an agreement to acquire a majority stake in Fintech PayXpert. This acquisition would allow the Bank to complete its offer for merchants and e-merchants, with the ambition of being a benchmark player in the field of payment acceptance in Europe. In addition, the board of directors of Societe Generale decided on Friday to propose to the bank’s shareholders the appointment of Slawomir Krupa as general manager, the group announced in a press release.
FALLING VALUES
Atos drops 4% the day after his bout of fever. The management of the digital services company said it had received and rejected an offer from onepoint, in association with the British private equity fund ICG, for the potential acquisition of its Evidian branch, for an indicative enterprise value of 4.2 billion euros. Bryan Garnier believes that this indicative proposal for Evidian – which brings together all the “good assets” of Atos – does not reflect the long-term value potential of the activity because at such a price, it would be valued on multiples EV / sales of 0.8x for 2022e and EV/EBIT close to 9x if we assume sales of 5.3 billion euros and an operating margin of 9% in 2022. On the other hand, an IPO of Evidian could value this activity on higher multiples in the medium term, with the objective for 2026 of generating 7 billion euros in turnover with an operating margin of 12%.
Assystem : -4% followed by ALD (-3%) with Balyo
BigBen : -2% with Nacon, ADP, Casino, Ose
Lumibird (-1.8%) announced the acquisition of Innoptics on September 22. Through this operation, the European leader in laser technologies integrates a team of 5 people with technological know-how complementary to its own with 12 years of experience in the design and manufacture of optoelectronic components and subsystems. Created in 2010, Innoptics is based in Talence, near Bordeaux. It achieves just over 300,000 euros in turnover and has 5 employees, including 4 engineers. The two co-founders, Stéphane Denet and Vincent Lecocq, are involved in the project with Lumibird. The operation was carried out in cash, with a share of profit-sharing on future performance, for an amount kept confidential.