(Boursier.com) — THE TREND
The CAC40 ended the week on a cautious note after climbing above 6,500 points yesterday with the help of better than expected results from financial institutions. The CAC40 lost 0.4% this Friday noon around 6,490 points.
After a good session on Wednesday, the New York Stock Exchange was also more hesitant last night, with only the Nasdaq managing to end in positive territory. Investors played the card of caution, on the eve of the publication of important figures, with the July report on employment in the United States due this Friday at the beginning of the afternoon, which could tell more about the health of the economy and give clues about future decisions by the US Federal Reserve.
The barrel of oil continues to decline as OPEC+ members agreed to increase their supply by 100,000 barrels per day in September. the Brent peaks at $94.50 a barrel and US light crude, WTIless than $89.
RISING VALUES
* Up 1.5% to 9.69 euros, Agricultural credit is still progressing this Friday, still leading the CAC40. The last major French bank to publish its quarterly reports, the establishment particularly assured by unveiling results that exceeded analysts’ expectations in the second quarter thanks to a record level of activity in investment banking, market volatility having led to a strong demand for hedging instruments. Net profit thus reached 1.98 billion euros for net banking income up nearly 9% to 6.33 billion euros. The accounts also benefited from a fall of more than 27% in the cost of risk over the period, whereas in the first quarter, the provisions – of just over one billion euros – linked to its exposure to Russia and Ukraine had weighed down its results.
* hexaom gained 2% this Friday to 29 euros, while the group achieved 2021 turnover of 549.8 ME in the first half, organic growth of +10% compared to 2020. This production growth compares to a first half of 2021 which had reached a historic level. “It demonstrates the group’s ability to cope with the lengthening of material supply times experienced by all building stakeholders”, underlines the management of Hexaom. As of June 30, 2022, the House Construction order book represented revenue of €514 million, down 23.1% in number and 10.8% in value. Thanks to the quality of its customers, and in order to preserve its margins, Hexaom announces that it has been able to practice regular price changes for several months to cope with both the increase in construction costs (materials and subcontracting) and the evolution of regulatory standards (RE 2020). The average selling price for the half-year rose again to stand at 151.6 K excl. VAT compared to 130.6 KE excl. VAT in the same period of 2021. fiscal year 2021 and a start to fiscal year 2022 in line with forecasts, Hexaom expects production to once again grow with a gain in market share despite a context of longer construction deadlines. However, Hexaom remains very vigilant about maintaining its margins in an economic environment still marked by an increase in inflation with, in particular, costs of materials and subcontracting under pressure.
FALLING VALUES
* Largest drop in the CAC40, Publicis drops 2.5% below 50 euros, in the wake of WPP which stumbles 7.5% in London. While the world’s largest advertising group has raised its full-year net sales outlook, anticipating sustained customer spending across multiple industries in the U.S. and Europe, analysts bet on a more substantial revision. The maintenance of the guidance at the level of the margin is also considered disappointing.
* TotalEnergies lost 1.6% to 47.9 euros, inevitably impacted by the continued decline in oil prices.
* Abivax lost 3% to 7.85 euros this Friday, while the company received approval from the central ethics committee in the United States (IRB – Institutional Review Board) allowing the initiation of patient recruitment in the United States in phase 3 induction studies with the drug candidate obefazimod (ABX464) in the treatment of ulcerative colitis. The inclusion of a first patient is anticipated by the end of the third quarter of 2022.
* Sharp increase this morning, Maurel & Prom now loses 7% to 4.38 euros. Boosted by strong oil prices, the oil group saw its net profit more than quadruple in the first half to $138 million, while free cash flow reached $155 million, compared to $38 million in the first semester 2021.