(Boursier.com) — THE TREND
The CAC40 fell slightly on Thursday for almost the entire session to end down 0.82% at 5,936 points, not without having made another brief foray above 6,000 points at the very start of the day… In general, even if investor sentiment now seems a little better, questions about the economic slowdown and the magnitude of future rate hikes remain at the heart of investors’ concerns.
The US rating is still losing ground on Thursday, in the absence of a catalyst, and as investors hesitate, caught between hopes of a ‘pivot of the Fed’ and fears of a deep recession. On the Nymex, the barrel of WTI crude rose another 0.8% to $88.5, the day after OPEC+’s decision to sharply reduce its production quotas by 2 mbd.
The last essential statistic of the week will be the monthly government report on the employment situation for September, which will be published tomorrow Friday, the consensus being placed at 250,000 non-agricultural job creations after 315,000 in August. The unemployment rate should remain at 3.7%. Powell noted at his September FOMC press conference that the Fed had seen only modest signs of a slowdown in the labor market. The employment component of the ISM manufacturing survey fell more recently to 48.7 in September from 54.2 in August, the lowest level since June. The day before yesterday, August job openings meanwhile fell to almost 10 million from July’s 11.2 million, the largest monthly decline since April 2020, hiring, separation and of resignation having changed little. Yesterday, ADP reported job creations in the private sector for September slightly higher than expected, at 208,000 against the FactSet consensus of 200,000. Creations for August were revised to 185,000, from 132,000 previously estimated…
RISING VALUES
Adocia (+28%), the clinical-stage biopharmaceutical company specializing in the research and development of innovative therapeutic solutions for the treatment of diabetes and other metabolic diseases has announced exceptional additional results on its phase 2 study with M1Pram in patients obese people with type 1 diabetes.
Quantum Genomics rebounded by 16% the day after its half-year point. The biotech reported an operating result of -9.6 ME at the end of June for operating income of 2.9 ME (2.7 ME a year earlier). Available cash reached 19.5 ME, while financial debt was 3 ME. These consist of a state-guaranteed loan of €1.5 million granted by BNP and an Innovation R&D loan of €1.5 million obtained from BPIFrance. Quantum Genomics thus finances its activities until the 2nd quarter of 2023. This cash horizon does not take into account payments that the company could receive in the context of the signing of new license agreements, in particular for the United States and Europe. . Bryan Garnier also started monitoring the stock with a ‘buy’ notice and a target of 13 euros. Yesterday, Portzamparc included the title in its ‘high five list’ for the month of October.
inventive : +15% followed by Ose (+8.8%) with Cegedim (+6.8%) and Lagardère (+6%)
CGG : +5% with SQLI, Faurecia and Jacquet Metals (+4%)
Altamir : +3.5% with Valeo, Coface, Synergie, Believe and LFE
Haulotte : +2.5% with Argan, Technip Energies, GTT and Ubisoft (+2%)
Valneva : +1.5% with STM, Bic, IPSOS
FALLING VALUES
Eramet now drops 20%. In a note dedicated to the mining sector, Berenberg explains that the compartment is facing a series of significant challenges and is downgrading several big names in the industry, Anglo American in the lead… The slowdown in the global economy, the deterioration of relations between the West and Russia and China, as well as the negative impact of zero Covid policies and ongoing challenges in China’s real estate sector are creating a number of significant headwinds for the sector. In this darkening context, central banks are continuing to tighten their monetary policy. The analyst thus believes that the stagflationary environment should persist until 2023, with miners caught between rising costs and taxes on the one hand and a strong dollar and weakened demand on the other, pushing prices down. raw material. Exane BNP Paribas has downgraded Eramet to ‘neutral’ with a target cut from 123 to 88 euros.
Waga : -8% with McPhy (-7%) and Aures (-5%)
Tarkett: -4% with Scor and Navya
ArcelorMittal down 4%. UBS downgraded ArcelorMittal to ‘neutral’ with a target reduced from 27 to 23 euros.
Bonduelle : -3% followed by Neurones (-2.5%) with Vinci, Vicat
Accor yields 2.2%, weighed down by a note from Barclays. The British bank downgraded the hotel group to ‘underweight’ with a target cut from 28 to 21 euros.
Engie : -2% with Eiffage, Orange, Kering, Bouygues
Veolia : -1.5% followed by Amundi, Casino