(Boursier.com) — THE TREND
In a calm market, the CAC40 once again approached its recent records established at the end of last week, up to 8,253 points in the morning, before ending up 0.17% at 8,240 points this evening despite the luxury somewhat penalized by the disappointing publication of Burberry. The British manufacturer of trench coats saw its same-store sales fall by 12% in the quarter ended at the end of March, penalized by weak demand in China and the United States…
Highly anticipated in the afternoon, the American consumer price index for the month of April 2024 showed an increase of “only” 0.3% compared to the previous month and 3.4% over a year… The market consensus stood at +0.4% month-on-month and +3.4% compared to last year. Excluding food and energy, the CPI increased by 0.3% compared to March and 3.6% year-on-year, while the consensus was also around +0.3% compared to April and +3.6% year-on-year…
The European Central Bank will most likely start reducing interest rates at its next policy meeting in early June, François Villeroy de Galhau confirmed this morning. Barring an unexpected shock, the ECB remains determined to bring inflation back to its target of 2% by next year, compared to 2.4% currently, underlined the governor of the Bank of France in a radio interview. RTL’. “As we have enough confidence, we will most likely start lowering rates, probably at our meeting in early June.”
The euro climbs this evening to 1.0870/$, while oil returns to 82.55$ per Brent.
RISING VALUES
CGG jumped 20% to 0.56 euros after a better start to the year than expected and the confirmation of its annual objectives. Business EBITDAs reached $105 million, up +59% year-on-year, for business revenue of $273 million, up +30%. Free cash flow from activities came to $102 million. When publishing the annual accounts at the end of March, the group indicated that it was aiming for a turnover of activities close to that of 2023 while “the EBITDA of 2024 activities will benefit from a favorable mix”.
Valneva : +9% followed by AB Science
Adocia : +6% with Aubay which gains 5% at 45 euros. Oddo BHF initiated monitoring with an ‘outperform’ rating and a target of 52 euros.
Oeneo : +4% with Covivio, LDC
Euronext : +3.5% followed by Icade, Téléperformance, SoiTec, Ose
Veolia gains 3% to more than 30 euros, while the water and energy management giant yesterday unveiled better than expected first quarter results and confirmed its annual objectives… AlphaValue analysts maintain their buy recommendation on the stock by raising its target to 38.80 euros, while Citi says Veolia has provided a “robust” set of figures, but warn that gains could be limited as the stock now trades at its ‘just value’.
Forvia rises by 2.5% followed by Sartorius
Gecina : +2% with Nexity, Inventiva, Eurofins, URW, Plasnisware, Equasens, Ramsay
FALLING VALUES
Trigano, which remained on a very good bullish streak, fell by 7% the day after its half-yearly point. Taking into account a tax charge of 61.1 ME and a financial result (-1.8 ME) reflecting the absence of debt of Trigano, the net profit for the 1st half reached 180.5 ME, i.e. 9.34 euros per share (+48.3%). The turnover came to 1.91 billion euros, compared to 1.61 billion euros a year earlier.
ViewGroup : -5% followed by Eramet
McPhy gives back 4% with Medincell
Crossroads fell 4% to 16 euros while JP Morgan lowered its recommendation on the distributor to “underweight” from “neutral” with a price target reduced from 19 to 15 euros.
Seb : -3% followed by MdM, Remy Cointreau
Dried : -2.5% with Air France KLM, Worldline, Nokia and Bonduelle
Coty : -2% followed by P&V
Euroapi : -1.5% with Total Energies, Lhyfe
Alstom : -1% followed by Sanofi, TF1, ADP, Technip and Sodexo