(Boursier.com) — THE TREND
The CAC40 continues its rebound and this time confirms its return above 7,000 points. The Paris stock market index thus rose by 0.9% at the end of the morning around 7,065 points with the help of Wall Street, which offered itself a second session of net rebound led by technology stocks on Monday evening.
The month of January nevertheless ended in a sharp correction across the Atlantic, of 9% for the Nasdaq and more than 3% for the Dow Jones, in anticipation of a much less accommodating monetary policy from the Fed. . Investors have taken advantage of the recent setbacks to get back on some “techno” on the cheap, after the better than expected results ofAppleand before those expected this week ofAlphabet, Meta Platforms and Amazon.
RISING VALUES
* Kering gained 1.9% to 668.7 euros. The title of François-Henri Pinault’s group is one of Berenberg’s favorite choices in the consumer discretionary compartment. The specialist explains that as the world’s second-largest luxury group, with an enviable set of ‘soft’ brands, Kering enjoys all the advantages of size and fulfills all the conditions to be a long-term structural winner in the area.
* Saffron is among the strongest increases in the CAC40 thanks to a gain of 2.8% to 109.6 euros. The tech group, a tier-one Aeronautics, Space and Defense equipment maker, is boosted by a Deutsche Bank rating that went ‘buy’ on the docket with a target increase from 122 to 125 euros. The broker’s analysis shows a recovery in global domestic traffic by the end of 2023, with Omicron only a temporary blip. On the other hand, Asia is increasingly calling into question the scenarios for the resumption of international traffic until the end of 2025. The main choices of the broker in the field of civil aeronautics remain Airbus (‘purchase’), MTU Aero (‘purchase’) and therefore Safran, based on a convincing but cautious outlook for 2022-2025.
* Technip Energies, which remained on two sessions of strong decline, resumed 2.1% to 13.8 euros at the end of the morning on the Parisian market. Jefferies started tracking the stock with a ‘buy’ advice and a target of 18 euros. The market is mostly positive on the issue since, according to the ‘Bloomberg’ consensus, 9 analysts are ‘buy’, 4 ‘hold’ and only 1 ‘sell’. The average 12-month target is set at 17.74 euros.
* Ubisoft takes 2.4% towards 52 euros, still stimulated by the wave of mergers and acquisitions in video games, after the gigantic Microsoft / Activision Blizzard deal. Sony Interactive Entertainment LLC, a subsidiary of sony Group Corporation, has just announced that it has entered into definitive agreements to acquire 100% of the shares of Bungie, an independent video game developer in the United States, for 3.6 billion dollars. Bungie is best known for the Halo and Destiny franchises. This transaction is subject to certain closing conditions, including regulatory approvals. The impact of this transaction on Sony’s consolidated financial results is currently being assessed.
* Alstom (+1%) has concluded a framework agreement to deliver up to 50 third-generation Traxx electric locomotives to Société Nationale des Chemins de Fer Belges (SNCB), Belgium, for use on its passenger lines . The first firm order, estimated at nearly 120 million euros, concerns the design, manufacture and certification of 24 locomotives. Deliveries are expected to start in 2026. These new locomotives will make national and cross-border journeys on electrified networks in Belgium, the Netherlands, Luxembourg and Germany, including on a number of high-speed lines. They are designed to work with the various country electrification systems and are equipped with the ETCS signaling system, as well as traditional signaling systems.
* Societe Generale (+1.1%) announced the entry into exclusive discussions of its subsidiary Boursorama for the takeover of the ING bank in France. A MoU (Memorandum of Understanding) was signed on 31 January between ING and Boursorama, a subsidiary of Société Générale, for the offer of banking solutions to ING’s retail clients in France. The intention of the parties is to reach a final agreement by April at the latest. The exact scope of the definitive agreement remains to be clarified and would concern day-to-day banking (current accounts and cards), savings and investment products (life insurance and brokerage). ING France’s credit portfolio would not be part of the deal and would remain managed by ING.
* inventive gains 6.5% to 11.5 euros. The biopharmaceutical company specializing in the clinical development of small molecules has received a milestone payment of 4 million euros from AbbVie. It follows the inclusion of the first patient with psoriasis in the ongoing Phase IIb clinical study with cedirogant (ABBV-157), an oral RORy inverse agonist jointly discovered by Inventiva and AbbVie for the treatment of autoimmune diseases.
FALLING VALUES
* Carmat, which had announced at the beginning of December, the voluntary suspension, on a temporary basis, of the implantations of its Aeson artificial heart due to a quality problem having affected some of its prostheses, will not finally resume its implantations in the commercial and clinical settings before the next October. What cause a new violent stall of the title (-22% to 13 euros). “A rigorous investigation led to the conclusion that quality defects on two distinct components of the prosthesis were at the origin of these problems. Corrective actions aimed at avoiding such defects have been defined, and are being integrated into production processes,” the group said.
* Two significant drops only on the CAC40: Orange and Sanofi down about 1.7%.