THE TREND
(Boursier.com) — Last hesitant session before the three-day Christmas break, the Paris market being closed on Monday, December 26. The CAC40 rose by 0.10% to 6,525 points. Wall Street took a nosedive last night and is expected to dither again this Friday… The upward revision of US growth in the third quarter, from 2.9% to 3.2%, has reinforced concerns about the continuation of the monetary tightening by the Fed, especially as the “core” PCE price index, the Federal Reserve’s preferred inflation measure, was also revised to 4.7% on an annual basis, against an announced 4.6% the preceding month.
Generally speaking, market sentiment remains fragile, with investors being torn between the still-high risks of recession and the ability of central banks to pursue strict monetary policy in the event of growth that is ultimately better than expected and therefore ultimately to cause a deep recession…
ECO AND CURRENCIES
To follow in the United States:
– Orders of durable goods. (2:30 p.m.)
– Household income and expenditure. (2:30 p.m.)
– Final index of US consumer sentiment as measured by the University of Michigan. (4:00 p.m.)
– Sales of new homes. (4:00 p.m.)
The euro/dollar parity reached $1.0620 this afternoon. A barrel of Brent is trading at $82.75.
RISING VALUES
DBV Technologies (+27%) announced the lifting of the partial clinical suspension by the FDA of the pivotal phase 3 clinical study VITESSE. DBV expects to begin the patient selection process in the first quarter of 2023, with the last patient to be selected in the first half of 2024 and expects the publication of the first results of the VITESSE study for the first half of 2025. The company reaffirms that the available cash is sufficient to finance the operations until the first results of VITESSE are obtained.
HRS (+7%) and Engie Solutions are combining their know-how to accelerate the completion of hydrogen-related projects, with a target of 15 projects by 2026, including 4 by 2024, primarily for ecosystems carbon-free mobility. Engie Solutions and HRS are thus taking a new step by formalizing a founding strategic partnership for hydrogen mobility which will extend until 2026. This agreement will make it possible to share the complementary industrial know-how of the two partners with the aim of responding effectively and quickly the needs of public and private players in terms of hydrogen infrastructure.
Nicox : +5% with Inventiva (+4%) and Korian with Vantiva
Abivax : +3% with Elior, Derichebourg
Faurecia : +2% followed by Michelin, Casino, Bassac
Agricultural credit (+0.5%) announces that Banco BPM (BBPM) and Crédit Agricole Assurances (CAA), a subsidiary of Crédit Agricole SA, have signed a memorandum of understanding for the establishment of a long-term bancassurance partnership. The latter aims to provide non-life insurance products and related services through BBPM’s distribution networks.
FALLING VALUES
Gensight : -4% with Transgene
moncey : -3% followed by Plastivaloire, Ateme
Air France-KLM : -2% with Thales, Innate, Aramis
Sodexo : -1% followed by Séché, Haulotte, Interparfums
GTT (stable) appealed to the Supreme Court of Korea against the decision of the Seoul High Court, rendered on December 1, 2022. This decision partially upheld GTT’s appeal against the corrective order ) from the Korea Fair Trade Commission (KFTC) by canceling the administrative fine of 9.5 million euros paid by the Company, but it confirmed the obligation for GTT to separate the technological license agreement from the assistance technical if requested by the Korean shipyards. The appeal made by GTT concerns the obligation to separate the technological license from the technical assistance. It will be accompanied by a request for suspensive effect.