THE TREND
(Boursier.com) – Up 0.55% in contact with 6,100 points, the CAC40 is heading for a fifth session in the green on Wednesday. The Parisian index shows a total rebound of almost 5% since last Wednesday.
US markets continued to rise last night after the positive reception of the results of several major groups, including Goldman Sachs, which also announced a major reorganization of its activities. Clearly, the results steal the show and eclipse fears of recession… But when they are not up to scratch, the sanction is immediate, as this morning in Paris for Sartorius and Virbac.
Although revised down slightly from its preliminary estimate, inflation did indeed pick up in the euro zone in September. According to final data from Eurostat, the annual inflation rate reached 9.9% in the region, after 9.1% in August, and against 10% initially announced. The lowest annual rates were observed in France (6.2%), Malta (7.4%) and Finland (8.4%). Conversely, the highest rates were recorded in Estonia (24.1%), Lithuania (22.5%) and Latvia (22%), specifies Eurostat.
RISING VALUES
* Orpea speed up again! In huge volumes, the title of the specialist in the care of dependency soars by 20% to 15.5 euros in the morning in Paris. With this fifth consecutive session of strong growth, Orpea now shows a gain of nearly 50% on the sequence. No particular explanation seems to explain this renewed interest in the group, except precisely that its valuation had fallen to very low levels against the backdrop of financial and health scandals. The rise of the action also leads to redemptions from short sellers (Blackrock notably reduced its short positions this week), which maintains the bullish phase of the title.
* Haulotte (+3% to 2.80 euros) recorded consolidated revenue of 140 ME in the 3rd quarter of 2022, up +17% compared to the same period of the previous year. Haulotte should post sales growth of close to +20% in 2022. Given the numerous uncertainties that remain, reinforced by the energy crisis which has been gaining momentum since the summer, Haulotte is not in a position to to confirm its current operating margin targets for 2022, but does not expect any significant improvement in the 2nd half compared to the 1st.
* Leading the CAC40, Alstom gains 2.8% to 19.4 euros. The group has signed a new services contract worth around 300 million euros with Govia Thameslink Railway (GTR), one of the largest companies benefiting from a rail franchise in the United Kingdom.
* Air France-KLM gains 3.3% to 1.5 euros. Kepler Cheuvreux went to the ‘purchase’ by targeting 1.9 euros.
* Veolia rose 1.7% to 21.3 euros. Morgan Stanley moved to ‘overweight’ despite a target reduced from 29 to 25 euros.
FALLING VALUES
* Sartorius Stedim Biotech drops by 14% to 300 euros. The supplier of equipment and services for the biopharmaceutical industry has unveiled accounts with strong growth over nine months, but a little short compared to analysts’ expectations in the third quarter. The market is also mostly holding that annual consolidated revenue growth should be in the lower half of the 15-19% range forecast so far. Regarding profitability, management confirmed that it is aiming for a current EBITDA margin of more than 35%.
* Virbac stumbles by more than 6% to 255 euros the day after a quarterly point marked by a slowdown in its activity, a tightening of the annual revenue guidance and a slight warning on the margin. Management now anticipates growth in its annual turnover at constant rates and perimeter in a range of between 6% and 9%, against between 5% and 10% previously. The EBITA margin target is reduced from “around 15%” to “between 14% and 15%” (at constant exchange rates). The animal health group achieved a turnover of 304.9 million euros in the third quarter, up 5.8% over one year.
* score fell 1.6% to 13.9 euros. Oddo BHF lowered its target from 32 to 26 euros (‘outperform’).