(Boursier.com) — THE TREND
After two sessions of sharp decline, the Parisian market has gradually confirmed its rebound since this morning. The CAC40 now takes 1% to 6,515 points around midday. Wall Street showed the way by recovering last night despite fears of monetary tightening that are looming at the initiative of the Federal Reserve to try to fight against galloping inflation.
After spending most of the session in the red, Wall Street turned up Monday evening in the last hour of trading, after the announcement of an agreement by the board of directors of Twitter (+ 5.6%) to the takeover of the social network by Elon Musk, the boss of You’re here and SpaceX. Tech stocks supported the rating, while cyclicals suffered on fears of an economic slowdown in China, where anti-Covid lockdowns from Shanghai could extend to Beijing. Oil prices fell and interest rates eased (a little).
RISING VALUES
* Saffron rises almost 3% to 107 euros. Ahead of the quarterly publication of the engine manufacturer and industrial and technological group (April 29), Stifel reiterates its ‘buy’ opinion on the file and its target price of 140 euros. Despite the share’s recent slight outperformance (stable over the past month vs -2% for the CAC 40 index), the broker explains its positive bias before the results by its conviction that management will make positive comments on the demand for spares and services for narrow-body engines, which are expected to benefit from strong summer capacity plans for European and North American airlines, pent-up demand due to delayed shop visits and customer resupply.
* Crossroads gains 1.4% to 20 euros. The news around the distributor is marked by a note from Bernstein who raised his recommendation on the file to ‘market performance’ following the company’s quarterly publication. The broker points to the favorable winds in the foreign exchange market in Brazil, the increase in the price and volumes of fuel in 2022, as well as higher inflation for a longer period.
* M6 (+1.8%) unveiled, for its first quarter of 2022, consolidated revenue of 322.5 ME, up +8.7%. Multimedia advertising revenues increased by +5.3%, driven by Television (linear and non-linear), whose advertising revenues increased by +7.5%. Non-advertising revenues are up +23% and benefit from the recovery of the cinema business and the consolidation of Stéphane Plaza Immobilier from January 1, 2022. Consolidated current operating income (EBITA) reached 67.2 ME , up +4.5% compared to the 1st quarter of 2021.
* Orange resumed 0.4% to 11.18 euros) after a quarterly point broadly in line with market expectations and the confirmation of its annual guidance. The telecom operator is still targeting growth in its basic operating profit (EBITDAaL) between 2.5% and 3% in 2022 and an organic cash flow from its telecom activities of at least 3.5 billion euros for the next year.
FALLING VALUES
* Vivendi yields about 1% to 11.18 euros. The ordinary dividend of 0.25 euro per share was detached this morning and will be paid from April 28.
* Orpea (-2%) published this Tuesday the first results of the independent external audits but also announced to postpone the publication of its 2021 annual accounts currently being audited to Friday May 13, 2022.
* bigben drops 8% to 13.7 euros, penalized by a rather disappointing publication. Over the three months to the end of March, the specialist in the design and distribution of accessories for video game consoles’ revenues reached 60.3 ME, down 13.6%, due in particular to a sharp drop activity in the Nacon/Gaming division (-25.6%) following several game delays. Over the year as a whole, in a context disturbed by several exogenous elements (shortage of components, delay in the release of new game controllers or smartphones, etc.), Bigben’s turnover was in the range announced at 275.7 ME.