THE TREND
(Boursier.com) — The CAC40 stagnated on Tuesday, down a symbolic 0.07% to 7,132 points after the correction the day before (-1.34%). The boss of the Fed is expected again on the subject of rates this evening, in the context of an interview which will be granted to the Economic Club of Washington… After a slightly more accommodating tone last week at the Following the Fed’s latest monetary meeting, markets will be watching the central bank boss’s message closely, as the latest very strong US jobs data has dampened the most optimistic expectations of monetary easing on the horizon of the second half of the year across the Atlantic… Oil is rising to $83 on Brent, while the euro is holding on to $1.07/$ in the meantime…
RISING VALUES
CGG : +6% with score (+5.5%), Medincell and Balyo
Renault picks up 4.5%, back to more than 40 euros, after the formalization yesterday of the long-awaited, but also widely anticipated, overhaul of the Alliance with Nissan and Mitsubishi. On the operational front, key new projects in Latin America, India and Europe will emerge to provide Alliance members with mutually beneficial results. Among these projects, Nissan will produce a new model for Renault in Mexico, which will allow the French group to produce a vehicle in the country for the first time in 20 years. In India, one of the fastest growing automotive markets in the world, Renault and Nissan will collaborate on several new vehicle projects, including new SUVs. On the electric front, Nissan has confirmed its intention to invest up to 15% in Ampere, Renault Group’s EV & Software unit in Europe, with the aim of becoming a strategic investor. Mitsubishi Motors is also reportedly considering investing in the entity. The valuation of the latter will be decided by the market, specified Luca de Meo during the presentation of the Alliance. These projects could generate hundreds of millions of euros in profits for companies over time, which could reach billions “if things go very, very well”, underlined the boss of the diamond group. “The relevance of these projects has been underestimated until now.”
Esso : +3.7% with SMCP And TotalEnergies
Sanofi : +3% with DBV
BNP Paribas gains 2.7% while the management has raised several financial objectives for 2025 and announced plans for a share buyback plan of 5 billion euros following the sale of the American subsidiary Bank of the West. Management now targets an average annual growth of more than 9% of its net income between 2022 and 2025, against a previous forecast of an increase of more than 7%. The banking group anticipates a return on equity of around 12% in 2025, against a forecast above 11% previously, with cost savings raised to 2.3 billion euros by this horizon.
Vallourec : +2.5% with Orpea, Thermador, Sword, TechnipEnergies, Eramet
Societe Generale is taking advantage of the “BNP effect” to grow by 1.5% before the presentation of its 2022 accounts tomorrow.
Savencia : +1.5% with S30
FALLING VALUES
Erytech down 6% with Vantiva
Crossroads give up 5%. The selling pressure on the distributor is to be linked to a note from Exane BNP Paribas which downgraded the file to ‘underperform’ with an adjusted target of 16.5 to 16 euros.
Derichebourg : -4% with Guillemot (-3.5%) with Antine, Nexans, Voltalia
Casino yields 3.5%. Will the group soon become an empty and indebted holding company? Bryan Garnier bank analysts are clearly leaning towards this possibility a few days after the confirmation of discussions between the distributor and Teract. The broker believes that in the event of a merger between the two entities, the Casino group would become a new empty and indebted holding company, similar to Rallye, destined to collapse with all the other holding companies in the galaxy by the beginning of 2025.
Airbus loses 3%, victim of a new degradation of analyst. Berenberg has indeed lowered its recommendation on the aerospace giant to ‘sell’ while reducing its target from 120 to 100 euros. The broker sees risks on the estimates of results in connection with the clauses of inflation in the contracts of planes.
Chargers : -2.5% with Valneva, SoiTec, Elior, Dassault Aviation
Beneteau : -2% followed by Lisa, Remy Cointreau, Euronext
Engie : -2% with trigano, L’Oreal, Saint Gobain, Air France-KLM