Mid-session Paris: tensions confirmed on oil and bond rates

[ad_1]

(Boursier.com) — THE TREND

The increase which prevailed at the opening this Monday morning (+0.4%), quickly came to an end with the CAC40 now down 0.1% around 7,530 points this midday. Friday’s surge at the end of a depressed week (-3.2%) due to the conflict in the Middle East is therefore difficult to endure, especially as oil prices are on the rise again. The barrel of Brent is now approaching $80, up almost 10% over the past week.

In France, the return of tensions is observed on bond rates before the presentation on Thursday to the Council of Ministers of the finance bill for 2025. The yield on the 10-year OAT thus returns above 3%.

The good news is confirmed for European key rates. The European Central Bank will “very likely” reduce its interest rates at its next meeting in October, according to an interview with François Villeroy de Galhau in ‘La Repubblica’ reported by ‘Bloomberg’. The head of the Banque de France explains that inflation fell below the ECB’s 2% target in September and that the basic measure should gradually approach this level in 2025.

QuotingCounting

RISING VALUES

* Alstom gained 1.4% to 19.7 euros, third session of increase for the railway group. Oddo BHF estimates that Alstom should achieve a solid Q2 in terms of orders (publication November 13). The analysis office forecasts 7.1 billion euros in orders, including 5.1 billion euros in large orders (signaling in Australia, regional trains in Germany and TGV in France). Oddo BHF raised its target on Alstom from 22 to 24 euros (‘outperform’).

* Fifth earnings session for TotalEnergies at 63 euros (+0.6% and +8% in five sessions). TotalEnergies has signed an agreement with RWE to acquire a 50% stake in two North Sea offshore wind projects, N-9.1 and N-9.2, totaling 4 GW of capacity. These projects, located 110 km from the German coast, have 25-year licenses, extendable to 35 years. This acquisition is in addition to TotalEnergies’ concessions N-12.1, N-11.2 and O-2.2, making it possible to create a 6.5 GW offshore wind hub in Germany, optimizing construction and operating costs.

FALLING VALUES

* Ubisoft loses 5% to 13.5 euros. The group explained in a press release that it had taken note of the recent speculations which have agitated its stock on the stock market, concerning potential interests around its company. On Friday, rumors emerged of discussions between the Guillemot family and China’s Tencent, causing the stock price to soar by 33% at market close. Ubisoft simply indicates that it remains focused on the execution of its strategy, “open world adventure games and games-as-a-service”, and “regularly examines all its strategic options”, according to the press release.

* Alten drops more than 5% to 91.3 euros. The European leader in high-technology engineering and consulting is the victim of a rating from Bank of America which downgraded the file to ‘underperform’.

* New drop session for Air France KLM which fell 0.7% to 8.17 euros in the morning this Monday. The stock has just fallen by almost 10% in the space of 5 sessions. It must be said that headwinds have multiplied for the airline in recent times. The first obviously comes from the escalation of tensions in the Middle East which raises fears of a conflagration in the region. The situation is already having significant consequences for the group since the carrier must put its connections to Israel and now Lebanon on hold.

* No rebound for the automotive sector: Stellantis falls by another 1% and Renault by 1.6%.

[ad_2]

Source link -87