(Boursier.com) — THE TREND
The fall resumed its rights on the Paris Stock Exchange after the brief lull yesterday afternoon in the wake of statements by the Bank of England… The CAC 40 lost 1.53% at the close, back below the zone from 5,700 points, to 5,677 points. The basic concerns remain the same, starting with inflation which has accelerated a little more than expected in Germany! On an annual basis, it reached 10.9% after +8.8% in August, show preliminary data from the Federal Statistical Office. A record level and well above market expectations (+10.2%). Sequentially, prices, calculated according to European standards, posted an increase of 2.2% after +0.4% the previous month and against a consensus of 1.5%.
By national standards, inflation reached the 10% mark against 7.9% in August and 9.5% expected by the market. Sequentially, prices posted an increase of 1.9% against +0.3% the previous month and +1.5% consensus.
The end of the government’s temporary aid measures and the worsening energy crisis in Europe explain in particular this acceleration in consumer prices across the Rhine…
ECO AND CURRENCIES
No surprise for the final US GDP reading. The US economy has therefore, as previously estimated, regressed at a rate of 0.6% over the period from April to June, in line with the consensus of economists. Personal consumption expenditure over the period appreciated at a rate of 2%, against 1.5% consensus. The price index pegged to GDP climbed 9% in the final reading, against 8.9% consensus.
According to the real-time tool FedWatch, the probability of another 75 basis point rate hike from the Fed on Nov. 2 after the upcoming monetary meeting is 62.5%, down from 37, 5% for the probability of a move of 50 basis points. The US central bank has already raised its rates three times by 75bp, bringing the fed funds rate range between 3 and 3.25%.
The euro/dollar parity rises to $0.9785 tonight. A barrel of Brent is trading more firmly at $89.
RISING VALUES
AB Science : +11% with Atos which announced that its board of directors would not follow up on an offer to buy out its Evidian branch for an enterprise value of 4.2 billion euros.
Beneteau (+6.5%): Consolidated EBITDA for the half-year amounted to 115.9 ME, or 16.2% of revenue (14.8% in 2021). Net income, Group share amounted to €52.9 million in the 1st half of 2022, up +12.3% compared to the 1st half of 2021.
Nexity rises 5% after its correction yesterday, followed by Sergeferrari
Thales : +2.7% with Bassac, Deezer and Guillemot
Lagardere : +2% followed by Neurones and Ipsen (+1.5%) with McPhy, Bic and Spie
FALLING VALUES
Orpea (-21%): Current Operating Income amounted to 81.8 ME, compared to 230.7 ME in the 1st half of 2021. Non-current items amounted to -251.4 ME. They include charges relating to crisis management in the amount of -20 ME as well as asset impairments in the amount of -186 ME. Net income for the 1st half of 2022 amounted to -269.4 ME. It is specified that the financial statements as of June 30, 2022 do not include any accounting consequences of the ongoing strategic review, as well as the outcome of negotiations currently being conducted with the Group’s historical partners.
Solutions 30 (-18%): adjusted EBITDA stood at 29.6 ME at the end of June 2022, compared to 49.5 ME a year earlier, down 40% exclusively attributable to activity in France. Adjusted EBIT stood at 6.7 ME at June 30, 2022, compared to 29.6 ME a year earlier. The 1st half of 2022 includes non-current operating expenses of €10.3 million, which mainly consist of restructuring charges and exceptional transition costs… same period of 2021.
Faurecia : -15% with Plastic Omnium (-13%)
Valneva (-11.7%) announced its intention to issue and sell approximately $40 million of common stock in a global offering reserved for certain classes of investors, including an offering of its American Depositary Shares , each representing two common shares, in the United States and a concurrent private placement of common shares in other countries outside the United States.
Ubisoft : -10%, followed by Korian
Valeo : -9% followed by Elior, Hexaom
Navya : -7% followed by Xilam, Alstom, Renault
Casino : -6% with Balyo, Carrefour (-5.5%), Rallye, STM
Worldline : -5% with Vivendi, SoiTec, Eutelsat
Stellantis : -4.5% followed by Nexans, Rexel, CGG, Aramis
Saint Gobain : -4% with Michelin, SG, Mersen, M6