(Boursier.com) — THE TREND
The CAC40 lost 0.82%, back below 7,000 points to 6,965 pts, after falling 2% in session after three days of rebound. Volatility therefore remains strong with a negative trend of 2% over the week.
Business publications have nevertheless given their support, with in particular the record results of the luxury group LVMH. Geopolitical tensions around Ukraine and the more restrictive than expected monetary policy bias adopted by the Federal Reserve (confirmed on Wednesday evening) have however limited initiatives…
ECO AND CURRENCIES
Regarding Ukraine, Emmanuel Macron urged Vladimir Putin this afternoon, during a telephone interview, to “respect the sovereignty of States” by evoking the Ukrainian crisis, according to a source at the Elysée… During this exchange, Vladimir Putin reiterated his demand for security guarantees from the United States and NATO, as the Kremlin had reported earlier in a statement. To which the French president replied: “We need Russia to respect the sovereignty of States”. As it stands, the Russian leader considers the responses provided by Westerners “insufficient”.
Russia again denied on Friday any bellicose intentions towards Ukraine, as accused by the United States, while it massed troops on the Ukrainian border.
Vladimir Putin and Emmanuel Macron have agreed to continue the dialogue on security issues in Europe, with the full and complete involvement of European states in these discussions.
In this perspective, Vladimir Putin reaffirmed his commitment to negotiations in the “Normandy format” between Russian, Ukrainian, German and French representatives. Germany and France are working together to relaunch these discussions left in abeyance in order to achieve a de-escalation. President Emmanuel Macron was due to speak Friday evening by telephone with Ukrainian President Volodimir Zelenski.
On the indicators side, the employment cost index in the USA for the fourth quarter, which has also just been revealed, rose by 1% compared to the previous quarter, against 1.2% consensus. It increased by 4% over one year.
The final index of U.S. consumer sentiment measured by the University of Michigan for the month of January 2022 came in at 67.2, versus a market consensus of 68.6 and a preliminary reading of 68.8.
The euro is back at 1.1170/$. Oil continues to rise and reaches $91 for Brent.
RISING VALUES
Guillemot : +16%. The group specializing in leisure accessories for PCs and consoles reported a surge in its annual revenues, higher than its own guidance raised at the end of October, with 2021 turnover of 176.8 million euros, in 47% increase. Growth accelerated further in the fourth quarter, to +65%. The Group is continuing to develop its Hercules and Thrustmaster ranges and forecasts sales of more than 200 million euros for the 2022 financial year. Further strong growth, therefore, despite tensions on components.
J.C. Decaux : +13%, boosted by an explosive end to the year. The outdoor advertising and street furniture specialist reported Thursday evening adjusted revenue of 955.8 million euros in the fourth quarter, up 37.5% (+34.7% organically). ). The consensus was positioned at 883.3 ME. Over the whole of the 2021 financial year, revenues increased by 18.7% to 2.74 billion euros.
Korian bounced back 9% with Orpea (+6%) after the fall in the sector following the release of the book “Les Fossoyeurs”
SergeFerrari : +5% with Manitou
Stedim : +3% with K&B, LNA, FDJ and S30
LVMH gains 3.3%. The first major company in the index to unveil its annual accounts, the luxury giant once again defied all predictions by posting historic results in 2021. Revenues reached 64.2 billion euros, up 44% compared to 2020 and 20% compared to 2019 (+36% organically compared to 2020 and +14% compared to 2019). Current operating profit amounted to 17.15 billion euros (+107% compared to 2020 and +49% compared to 2019), materializing a current operating margin of 26.7%, compared to 18.6% in 2020 and 21.4% in 2019. It reached 41.5% for the “Fashion and Leather Goods” division, which generated almost half of the company’s annual turnover. The annual net income, group share, for its part, increased by 68% to 12.04 billion euros, a record level. It had fallen 34% in 2020, as the first half of the year was heavily affected by the impact of the pandemic. Growth accelerated further over the last three months of the year with organic growth of 22% compared to 2019. The “Fashion and Leather Goods” division posted a 28% jump in sales over the period at consolidation scope and constant exchange rates, while analysts were betting on a 16% increase. Compared to the corresponding quarter of 2019, before the coronavirus crisis, growth jumped 51%! All of the group’s divisions actually recorded double-digit organic growth compared to the fourth quarter of 2020, with the best performance being for selective retailing, which includes the Sephora brand, with a jump of 30%.
BioMerieux : +2.5% with Bassac, Navya
believe : +1.5% with Valneva, Virbac
M6 : +1% followed by Elior, Publicis, Vilmorin, Bouygues, Alten, Aramis
Orange : +1.4%. As expected, the telecom operator formalized the arrival of Christel Heydemann as CEO. The Orange board of directors, on which Christel Heydemann has sat since 2017, met this morning to appoint the replacement for Stéphane Richard, sentenced on appeal last November in the arbitration case between Bernard Tapie and Crédit Lyonnais. The current Managing Director Europe Operations of Schneider Electric will take up her new position from April 4th.
FALLING VALUES
Alstom -8%. The selling pressure on the file is to be linked to a note from Exane BNP Paribas which downgraded the title of the railway group to ‘neutral’ while reducing its objective from 40 to 33.5 euros. Despite everything, the market remains mostly positive on the stock since, according to the ‘Bloomberg’ consensus, 16 analysts are ‘buying’, 4 are ‘holding’ and only 2 are ‘selling’. The average 12-month target is set at 40.62 euros.
CGG : -8% with Voltalia
Lysogen : -6% followed by Balyo, Antin
Plastic Omnium : -5.5% with Neoen
Vallourec : -4.5% followed by Eurazeo, Bastide, Ateme
Saffron : -3.5% with Faurecia, SES, Akwel
Danone : -2.8% followed by Stellantis, IPSOS, ERamet
After three sessions in the green, two of which ended up sharply, Renault consolidated by 2.6%. The Renault-Nissan-Mitsubishi Alliance yesterday presented its joint roadmap for 2030 dedicated to electric vehicles and connected mobility. Oddo BHF believes that the various announcements have proven to be largely in line with recent press leaks and previous messages distilled by each of the manufacturers. However, after the numerous difficulties of recent years, the objective was above all to display a stronger voluntarism of the 3 three partners in terms of cooperation on these key issues.
Veolia : -2.5% followed by Nexans, Schneider, Technip Energies, ADP
vinci gives up 0.8%. The title of the construction and concessions giant thus hardly benefits from a note from Stifel which has gone to the ‘purchase’ on the file with a target raised from 87 to 109 euros.