THE TREND
(Boursier.com) — The rise continues for the CAC40, which exceeded 7,000 points at the close, bringing its progression to nearly 8% since the beginning of January. The Paris stock exchange index thus rose by 0.69% this evening to 7,023 points at the close, back to the highest since February 2022, the market returning to some 5% of its historical records from a year ago. established before the start of the war in Ukraine.
The publication of consumer prices in the United States yesterday showed a deceleration in inflation in December, to 6.5% year on year after a peak of 9.1% in June, confirming the scenario of a possible easing. rates… From one month to the next, the CPI even fell (-0.1%) last month for the first time in more than two and a half years! In France too, inflation slowed to 5.9% year on year in December, according to final data published by INSEE, which confirms its first estimate. Compared to November, the consumer price index fell 0.1% last month…
The euro climbs tonight above $1.08, while oil rises to $85 for Brent.
RISING VALUES
P&V : +9% followed by Erytech (+8%)
Mauna Kea : +6% with DBV
Air France-KLM confirms its rebound yesterday with a title that wins 6%. After the favorable preliminary publication of American Airlines on Thursday, and pending that of Delta Air Lines later, the title of the Franco-Dutch company is supported by several analysts’ notes. Davy Research initially raised its recommendation on the stock to ‘neutral’, targeting 1.42 euros. UBS, for its part, went to the ‘purchase’ on the action while raising its target from 1.75 to 2 euros. “With the potential for upward revisions at the consensus level, we view the current price as an attractive entry point,” the Swiss bank said. Finally, Citi reiterated its ‘buy’ advice and its target of 1.85 euro.
Lisa : +4% followed by Manitou, SoiTec
catana : +3.5% followed by bic, CGG, Innate, Euroapi, Infotel, Bonduelle
Thermador : +2.5% with McPhy and Tikehau
Ubisoft timidly recovers 1.2% after its sharp drop the day before linked to “profit-warning”. The concert composed of the Guillemot family group and the Hong Kong company Tencent Mobility Limited declared to the AMF, as a regularization, to have crossed upwards, on December 20, 2022, the threshold of 25% of the capital of Ubisoft. The concert specified that it held, as of January 11, 2023, 25.37% of the capital and 29.68% of the voting rights. The members of the concert indicate that the declared threshold crossing results from the acquisition on the market of Ubisoft shares by Tencent Mobility Limited, financed by its own cash. Members of the expanded gig are “planning to continue shopping.” However, the concert does not plan to cross the threshold of 29.9% of the capital and voting rights and does not intend to take control of Ubisoft. The concert supports the strategy currently being implemented by Ubisoft.
Capgemini wins 1.1%. Invest Securities raised its recommendation on the SSII to ‘buy’ while raising its target from 178 to 200 euros. Like other Tech best-in-class in Europe, CapGemini suffered on the stock market in 2022 (-18 bps), with impressive operational performance taking a back seat to rising rates, says the broker. If the latter was tempted, at the end of October, to remain ‘neutral’ until the publication of the 2022 results in February to have more visibility on 2023, the continuation of the recent underperformance (-7pts over 1 month), combined with the easing of the risk premium and interest rates lead it to go on the offensive. The analysis thinks that the group should be able to resist much better than in previous recessionary cycles.
Fourth positive session for TotalEnergies which finds the 60 euros (+0.5%). The barrel of Brent continues to recover to 85 dollars.
FALLING VALUES
Largest declines in the CAC40 today, Stellantis and Renault lose 4% and 1.5%. The automotive sector is rocking, the price cuts granted by Tesla to the four corners of the world reinforcing fears weighing on demand… The Stoxx 600 Automobiles & Parts index thus lost up to more than 2% in the morning. Tesla announced Thursday evening to reduce the prices of its flagship vehicle models in the United States, with reductions ranging from 6% to 20% on the Model 3 and the Model Y. These new prices do not take into account the federal credit of 7,500 dollars granted since the beginning of the month for the purchase of a large number of electric vehicles.
Bouygues drops 3%, weighed down by an analyst’s note. Morgan Stanley has indeed downgraded the conglomerate to ‘underweight’ by targeting 30 euros. Bouygues’ free cash flow is stuck in a deteriorating cycle that shows no signs of reversing, the bank says. The latter still sees a downside risk for the title and little attractiveness for the valuation. The 6% dividend yield looks attractive, but not enough to justify waiting for cash flow to improve sufficiently.
Rothschild : -3% with SMCP, MdM, Mercialys (-2.5%)
Elior : -2% with Carmila, rally
Veolia : -1.5% with Beneteau, country house
Crossroads : -1% followed by Remy Cointreau, Casino, Thales, Liquid air