THE TREND
(Boursier.com) — The profit-taking triggered yesterday and which resulted in a clearly bearish close yesterday on the CAC40 (-0.92%) is stopped today with a slight rebound taking shape at the end of the morning: + 0.3% to 8,153 points.
The good news is being confirmed regarding inflation as a consensus around a rate cut in June begins to emerge within the Governing Council of the European Central Bank.
The euro zone’s annual inflation rate is estimated at 2.4% in March, compared to 2.6% in February according to Eurostat’s flash estimate. The consensus was positioned at +2.5%. Looking at the main components of inflation, services are expected to experience the highest annual rate (4%, stable compared to February), followed by food, alcohol & tobacco (2.7%, compared to 3, 9%), industrial goods excluding energy (1.1%, versus +1.6%) and energy (-1.8%, versus -3.7%). Over one month, prices would increase by 0.8%. Annual ‘core’ inflation would stand at 2.9% compared to +3.1% the previous month and a consensus of 3%.
Quoting…
RISING VALUES
* TotalEnergies increased by 0.6% and reached new stock market highs at 66.3 euros. The OPEC+ countries are meeting today while the barrel of Brent has further strengthened towards 90 dollars
* Renault gained 0.5% to 47.7 euros. CMA CGM Group has joined Flexis SAS founded on March 22, 2024 by Renault Group and Volvo Group, a joint venture dedicated to the development of the “revolutionary” next generation of electric vans. CMA CGM, through its PULSE energy fund, is taking a 10% stake in Flexis SAS and will invest up to 120 million euros by 2026. Volvo Group and Renault Group, which each hold 45% in Flexis SAS , plan to invest respectively 300 million euros over the next three years.
* Valbiotis climbs 8% to 3.92 euros after the announcement of the launch in France in May, in accordance with the announced schedule, of ValbiotisPRO Cholesterol, its food supplement composed exclusively of Lipidrive (ex-TOTUM 070), a patented active substance 100% natural origin for the management of mild to moderate hypercholesterolemia.
FALLING VALUES
* Soitec lost 1.1% to 96.7 euros. Morgan Stanley, in turn, downgraded the file to ‘online weighting’ while cutting its target from 173 to 102 euros. A decision which follows the reduction of the innovative semiconductor materials specialist’s forecasts for the 2025 financial year, with the ongoing inventory correction continuing to impact sales. The bank “significantly” reduced its revenue and profit estimates for fiscal years 2025 and 2026.
* Air France KLM loses another 2.5% to 9.64 euros. JP Morgan adjusted its target from 9.2 to 9 euros (‘underweight’).
* Third session of sharp decline for Stellantis which dropped 2.2% below 25 euros at the end of the morning. In a note released yesterday, JP Morgan (‘overweight’) said it expected a decline in revenues and volumes (-6%) in the first quarter, as the company seeks to keep control of stocks and its fixing power. prices.
* Airbus (stable at 167 euros) is said to have delivered around 145 planes in the first three months of the year as the aircraft manufacturer strives to increase production and meet its goal of delivering around 800 commercial planes in 2024. On In the month of March alone, the European giant would have shipped 65 devices, compared to 49 in February, and more than twice the level of January, ‘Bloomberg’ believes, citing a source close to the matter. ‘Reuters’ for its part mentions 142 deliveries in the first quarter. Airbus is expected to release its final data in the coming days. The planemaker is trying to push its strained supply chain to increase production at a time when demand for planes remains at record levels while its main rival Boeing remains mired in crisis following the near-catastrophic accident. at the start of the year on a 737 MAX.