THE TREND
(Boursier.com) — The CAC40 relapsed by 1.4% this Friday around 6,075 points around midday. This is again the fourth session in a row in the red. Investors, who seemed to have digested the latest inflationary macroeconomic data and the upcoming interest rate hikes, are also giving in again to fears of a deterioration in the global economic situation. All in the wake of Wall Street which saw the end of the session deteriorate last night and where FedEx, the parcel delivery giant, considered a barometer of global economic activity, gave up its forecasts for annual results. referring to a marked deterioration in the economic situation. The good news from China does not change the situation, however, industrial production and retail sales there exceeded expectations in August with increases of 4.2% and 5.4% respectively.
It’s Four Witches Day this Friday on Wall Street, which sometimes (but less and less) leads to increased market volatility. This stock market event, which occurs 4 times a year (the 3rd Friday of March, June, September and December), corresponds to the simultaneous expiry of 4 types of contracts: options on indices and on shares, as well as futures on indices and shares… Operators will also follow today at 4 p.m. the preliminary index of American consumer sentiment measured by the University of Michigan for the month of September (consensus 59.3 according to FactSet) .
The euro zone’s annual inflation rate did indeed settle at a record level of 9.1% in August, after 8.9% in July. According to final Eurostat data, the lowest annual rates were observed in France (6.6%), Malta (7%) and Finland (7.9%) and the highest in Estonia (25. 2%), in Latvia (21.4%) and in Lithuania (21.1%).
RISING VALUES
* Only one value of the CAC40 remains just in the green: TotalEnergies preserve the 50 euros (+0.2%).
* ArcelorMittal is practically stable around 22 euros. The group intends to temporarily close several production sites in Europe due to the decline in its order book and soaring energy prices. Management thus forecasts a drop in its steel production of 1.5 million tonnes in the fourth quarter of 2022 in Europe compared to last year. The group announced at the beginning of September the temporary closure of several blast furnaces and other infrastructures in Germany, Spain and Poland and, at the same time, slowed down its activity throughout Europe, in the face of the deterioration of the situation. economy on European soil. These decisions are mainly the result of a drop in demand, particularly in the automotive sector, and the surge in gas and electricity prices.
FALLING VALUES
* Airbus loses 3% to 92 euros. Brazil bets on the H125. The Brazilian Armed Forces, through the Combat Aircraft Program Coordination Committee (COPAC), has acquired 27 H125 single-engine helicopters from Airbus to strengthen the Navy and Army’s training capabilities. brazilian air.
* Vetoquinol fall of more than 12% to 91 euros after publishing its half-year accounts.
* LNA Health erases its gains from the day before with a title that falls by 5% to 30 euros. In addition to the overall decline in the markets, the group specializing in the operation and management of comprehensive care establishments for dependent elderly people is the victim of a rating from Oddo BHF which downgraded the file to ‘neutral’.
* GTT drops 4% to 115.9 euros the day after the announcement of a new sale of securities by Engie. The energy group placed around 2.2 million GTT shares (representing around 6% of GTT’s share capital) at a unit price of 115.5 euros, according to information from ‘Bloomberg’. A price which materializes a discount of 4.3% on the closing price on Thursday evening. Engie has undertaken to ensure that the residual shares held in GTT are subject to a lock-up agreement for a period of 1 year.
* Virbac drops 9% to 297 euros and aligns a fourth session of sharp decline. The veterinary laboratory has however unveiled good half-year results and confirmed its 2022 objectives. Only the debt reduction objective for the year has been revised downwards (around 30 ME excluding dividends) due to the increase in the working capital requirement linked to the growth of the activity, to inflation, as well as to management decisions. The group’s profitability remains at a high level with an adjusted current operating margin of 18.6% vs 18.5% in the first half of 2021.