THE TREND
(Boursier.com) — Difficult to speak of a rebound today: we are witnessing rather an interruption of the decline since this morning with a CAC40 which timidly resumes 0.3% just above 6,100 points. Few significant increases are observed in the charts despite a certain lull in energy prices. The barrel of oil is thus on a downward trend and erases its rise the day before around 93 dollars per Brent while natural gas returns to 220 euros per MWh.
The Parisian index remains in any case on 7 declines during the last 8 sessions and even on 10 declines during the last 12 sessions. The question driving the market this week is whether the ECB will raise its key rates by 50 or 75 basis points on Thursday.
RISING VALUES
* Among the biggest declines in the CAC40 yesterday, industrials hit by soaring energy prices Saint Gobain, Renault Where Alstom rise by 1 to 2%.
* LVMH gained 0.6% to 639 euros. Berenberg cut his target from 840 to 710 euros (‘buy’).
* MedinCell (+3% to 5.26 euros) obtained new financing from the European Investment Bank for a total amount of 40 million euros. The credit agreement concluded provides for the company to repay in advance a previous loan of 20 million euros signed in 2018 with the EIB. 30 million euros of credit facility could be drawn in the fourth quarter of 2022, the disbursement of the remaining 10 million euros subject to conditions which should be fulfilled in 2023. Each tranche of the new credit will be repaid 5 years after the drawing.
* TotalEnergies EP Gabon (+15%) yesterday announced the convening of a combined general meeting, on an exceptional basis, on Friday September 23, 2022. “Given the strength of the company’s balance sheet and the available cash”, the board of directors of TotalEnergies EP Gabon has decided to propose the distribution of a dividend of $55.56 per share, or $250 million for all shareholders. TotalEnergies EP Gabon is 58.28% owned by TotalEnergies, 25% by the Gabonese Republic and 16.72% by the public.
* Lanson BCC climbed 3.3% to 30.9 euros the day after its half-year point. The champagne specialist achieved an operating result of 15.08 ME over the first six months of the financial year, against 8.57 ME a year earlier, for a consolidated turnover of 115.02 ME, an increase of 16%.
FALLING VALUES
* Biggest rise in the CAC40 yesterday, it’s the opposite today for TotalEnergies which returns 1.6% to 52.3 euros.
* Engie also lost 1% to 12.1 euros.
* SergeFerrari Group lost nearly 5% to 12.3 euros despite a fairly good publication. The company saw its half-year operating profit reach 15.9 ME compared to 14 ME in the first half of 2021, for revenues of 170 ME, up +17.5% at current scope and exchange rates and +15.9% at constant scope and exchange rates. The group recalls having mitigated the impact of the increase in raw materials by partly passing on the rise in its costs to its selling prices and has continued to rigorously manage its overheads. Management has confirmed that it is aiming for consolidated revenue of 335 million euros in 2022 and will remain particularly vigilant regarding the availability and price trends of energy sources over the coming months.