(Boursier.com) — THE TREND
Luxury on the rise and no significant drop in CAC40 values: this explains the new rise in the Paris stock market this weekend. Enough to propel the CAC40 just above 7,500 points, up 1.05% at the end of the morning. The main index of the Paris stock exchange brings its 2023 gains to more than 15% and is now only less than 80 points from the April highs (7,581 points).
To follow this afternoon the monthly American government report on the employment situation for the month of November (FactSet consensus at 3.9% unemployment, 172,500 job creations including 145,000 in the private sector, +0.3% for the average hourly wage compared to the previous month).
RISING VALUES
* The three luxury players present in the CAC40 are at the top of the list today: Kering And LVMH gain almost 3% and Hermes 1.7%. Kering and LVMH are still far from their peaks, but Hermès is getting closer.
* Vivendi gained 2.7% to 8.92 euros. Six short months: the length of the short period during which Vivendi will have evolved outside the CAC40. Euronext announced last night, following the quarterly review of the CAC family indices, the return of the media and entertainment group to the flagship Parisian index. The company headed by Arnaud Roy de Puyfontaine will replace Worldline as of December 18. An express reintegration welcomed by the market.
* Thales rose by 1.3% to 137.3 euros this Friday, while Deutsche Bank remains long on the defense group and adjusts its target from 158 to 166 euros in a geopolitical context that remains as tense as ever.
* Rexel advances 0.7% to 23.6 euros. The title of the specialist in the professional distribution of electrical equipment thus ignores a rating from JP Morgan which lowered its recommendation to ‘neutral’ while reducing its target from 28 to 25 euros.
* Genfit climbs 8% to 3.32 euros after announcing updated prospects for 2024 “as a result of recent progress”… Concerning elafibranor in the PBC, Genfit indicates thatIpsen has made significant progress since the announcement of positive interim data from the pivotal phase 3 ELATIVE trial in June 2023, with a “significant and notable” presence at the ‘AASLD The Liver Meeting’ and the presentation of additional data of the ELATIVE trial demonstrating in particular a statistically significant improvement in multidimensional scores for the assessment of pruritus, as well as the publication of the interim results of the Phase 3 ELATIVE trial in the New England Journal of Medicine and the validation of regulatory filing obtained in the United States, Europe and the United Kingdom less than 6 months after the publication of the interim Phase 3 results – and obtaining a priority review of the NDA file by the American FDA with a target date of PDUFA set for June 10, 2024.
FALLING VALUES
* No significant drop among CAC40 values.
* Ubisoft, which announced last night the release of Avatar: Frontiers of Pandora on Ubisoft+, PlayStation5, Xbox Series XS and PC via Ubisoft Connect, lost 2% to 24.4 euros at midday in Paris. As for analysts, SocGen reiterated its ‘sell’ opinion and its target of 19 euros. The market is divided on the issue since, according to the ‘Bloomberg’ consensus, 11 analysts are ‘buy’, 8 are ‘hold’ and 4 are ‘sell’. The average twelve-month objective is set at 30.8 euros. Ubisoft has lost nearly 8% since January 1 compared to an increase of 16% for the CAC40.