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Mid-session Paris: start of the week disrupted by the health situation in China


THE TREND

(Boursier.com) — The session had started very badly for the CAC40, which fell 2% to 5,910 points this morning before recovering in the morning. The Parisian index only loses 0.7% now around 5,990 points.

Several major Chinese cities have announced new health restrictions up to total containment in an attempt to curb the resurgence of the COVID-19 epidemic and Shanghai is preparing for new massive testing campaigns in the coming days after the detection of a new sub-variant of the Omicron strain, the BA.5.2.1. Macau has also closed all of its casinos for the first time in more than two years. This information fuels fears of recession, which remain one of the main concerns of the markets, despite the higher-than-expected figure for job creations in the United States published on Friday.

This week will begin the publication of half-year results in the United States, the big banks opening the ball on Thursday and Friday.

RISING VALUES

* STMicroelectronics (+0.8% to 31 euros) and GlobalFoundries listed on the Nasdaq, today announced the signing of a memorandum of understanding for the creation of a new 300 mm semiconductor manufacturing unit. This entity jointly operated by the two companies will be adjacent to ST’s existing 300 mm manufacturing plant in Crolles near Grenoble. This new unit should reach its full capacity by 2026 to produce up to 620,000 300 mm wafers per year (about 42% for ST and 58% for GF). ST and GF are committed to building production capacity to serve their customers in Europe and around the world. This new unit will produce a wide range of technologies, including technologies based on FD-SOI (Fully Depleted-Silicon-On-Insulator) and many variants. This includes GF’s cutting-edge FDX technology, as well as the full range of technologies on ST’s roadmap down to the 18nm node, for which demand is expected to remain strong in automotive, IoT and mobile communications. over the next few decades.

* Soitec took the opportunity to grow by 0.6% to 137 euros.

* Sanofi (+0.30% to 99.65 Euros): Positive data from the ATLAS-PPX phase III study evaluating the efficacy and safety of a monthly dose of fitusiran (80 mg) in adults and adolescents patients with severe hemophilia A or B who had previously received prophylactic treatment with factor replacement or bypassing agent, were presented, on July 10, as part of a session on breaking news from Congress 2022 from the International Society on Thrombosis and Haemostasis (ISTH). This study met its primary endpoint and demonstrated that fitusiran prophylaxis significantly reduces bleeding episodes compared to prior factor or bypass agent prophylaxis. Otherwise, Sanofi and Swedish Orphan Biovitrum AB (Sobi) present for the first time, in a breaking news session of the 30th Congress of the International Society on Thrombosis and Haemostasis (ISTH), the positive results of Pivotal Phase III XTEND-1 study evaluating the safety, efficacy and pharmacokinetics of efanesoctocog alpha (BIVV001), an investigational factor VIII replacement, in adults and adolescents 12 years of age or older with hemophilia A , already treated. The study met its primary endpoint and showed that efanesoctocog alpha, once weekly prophylaxis, confers clinically significant protection against bleeding in people with severe haemophilia A.

* Pierre & Holidays gains 1.4% to 5 euros. As part of the accelerated safeguard procedure, all the resolutions submitted to the shareholders and creditors of the company necessary for the implementation of the operations provided for in the agreement concluded on March 10 were approved on July 8, 2022, in including the draft accelerated backup plan. The next step in the restructuring operations is the approval of the draft accelerated safeguard plan by the Paris Commercial Court. To this end, a hearing will be held on July 22, 2022 to examine the draft plan. It is reminded that the target date for the final completion of the Restructuring Operations remains, to date, set at 16 September.

FALLING VALUES

* Bank stocks are at the forefront of CAC40 declines: BNP Paribas, Agricultural credit and Societe Generale down about 2%.

* The situation in China does not favor luxury: Kering and LVMH yield 1.5%.

* Alstom fell 0.8% to 24.1 euros. Citigroup reduced its price target from 42 euros to 38 euros.



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