(Boursier.com) — THE TREND
Third positive session for the Paris Stock Exchange, with a CAC40 which reached 7,200 points, up 0.33% to 7,209 points at the close, still driven by the easing of inflation which reinforces the scenario of the end of the cycle increase in key rates on both sides of the Atlantic. Note that the CAC40 has not closed above this symbolic level of 7,200 points since September 21…
The relief therefore came from US inflation being lower than expected yesterday. The consumer price index recorded zero growth last month after an increase of 0.4% in September, and an increase of 3.2% year-on-year, after an increase of 3.7% in September. Investors saw this as the work of the Fed’s interest rate increases and therefore a sign that it is no longer necessary for the American institution to tighten its monetary policy again. In Europe too, the rise in prices is slowing down but a little less quickly… Enough to push the euro back up to 1.0850/$. Oil is at $81.50 per Brent.
RISING VALUES
Orpea rises by 24% followed by Adocia (+10%) and Ekinops (+9%)
STM climbs 5% with Voltalia, Guillemot
Xilam : +4% followed by McPhy, Verimatrix
Gerard Perrier : +3% followed by Gl Events and Groupe ADP
Nacon : +2.5% with LFE, Saint-Gobain, Derichebourg, Worldline, XFab, Forvia, Manitou
Air France KLM : +2% followed by Stedim, Infotel, Neurones, Nexans, Rexel
Renault (+2%) today presented its new entity “Ampère” whose IPO is planned for the first half of 2024… Ampère aims to become a “pure player in electric vehicles and software, which develops, manufactures and markets electric passenger vehicles under the Renault brand for the European market. The objective is to achieve sales price parity between thermal and electric vehicles ahead of the competition thanks to a clear trajectory of cost reduction of 40% by 2027/2028 between the 1st and 2nd generation of vehicles. electric vehicles in the C segment, with a range of 7 vehicles in 2031 at the heart of the European market: Megane E-Tech, Scenic E-Tech, Renault 5, Renault 4, “Legend” and two additional vehicles.
Teleperformance : +1.5% with Capgemini, Innate
The luxury sector is well oriented with LVMH up 1.5%, Kering (+0.5%) and Hermes of around 1%, while the Chinese People’s Bank decided to introduce massive new liquidity injections.
Plastivaloire rose by 1.5%, while the group achieved a very solid 4th quarter – from July to September 2023, with a turnover of 191.5 million euros, up +3.3% ( +4.8% at constant exchange rate) compared to the 4th quarter of 2021-2022. This performance constitutes a new activity record for a 4th quarter.
FALLING VALUES
Alstom signs the fall of the day in Paris with a share which loses 15%. More than the publication of interim accounts without much surprise, the market is focusing on the major cost savings plan announced by the rail giant. The group will in fact launch an asset sale program of between 500 and 1 billion euros, cut 1,500 jobs and is considering a capital increase. Alstom will also not pay a dividend for the current fiscal year. The group thus intends to strengthen its balance sheet structure and aims to reduce its net debt position by an amount of 2 billion euros by March 2025. The Board of Directors will also propose to the vote of the next General Meeting of shareholders, in July 2024, the appointment of Phillipe Petitcolin, former CEO of Safran, as a director, then as Chairman of the Board of Directors. Consequently, the functions of Chairman of the Board of Directors and Chief Executive Officer will then be separated and Henri Poupart-Lafarge will remain Chief Executive Officer. In terms of prospects, for the 2023/24 fiscal year, the firm is targeting organic growth in turnover “beyond 5%”, an adjusted operating margin of around 6% and a cash- free flow expected in a range of -500 to -750 million euros.
Coface (-7%) achieved a result of 189.7 ME over 9 months in a context of slowing inflation and normalization of claims. The annualized ROATE stood at 14.1%. The turnover over 9 months is 1,418 ME, up 7.1% at constant scope and exchange rates and 5.3% based on published data. Risk exposure in Israel is estimated at 4.6 billion euros.
DBV : -5% with Genfit, Boiron (-4%), Lectra (-3%) and Necity with Believe
Icade : -2.5% followed by Bonduelle, Argan
Chargers down 2% followed by Wendel, Esso, MdM, Ipsen, Valneva
Equasens : -1.5% with Klepierre and Euronext, followed by Sanofi (-1%)