(Boursier.com) — THE TREND
Optimism remains prevalent in equity markets on Friday despite low trading volumes due to the Ascension Bridge. The CAC40 rose by 0.7% at the end of the morning and even managed to reach 7,500 points. Investors remain convinced of the prospect of an early agreement on the debt ceiling in the United States: the statements of Democratic President Joe Biden and the Republican “speaker” of the House of Representatives Kevin McCarthy pleased investors, the latter having reiterated their determination to quickly reach an agreement on the American debt ceiling and avoid the specter of a default…
It should be noted that on the rate side, the benchmark 10-year US bond tightened a little to 3.64% after more stringent statements from the Fed than expected and pending further intervention by J. Powell, which should intervene a little after 5 p.m., that is to say at the time of the closing of the markets in Paris.
RISING VALUES
* Air France-KLM continues its bullish sequence with a further increase of 2.3% to 1.72 euro this Friday on the Paris stock exchange, which brings the advance of the value to 15% over the week. The buying flow has been fueled by several brokers’ ratings in recent hours, starting with that of Redburn which raised its recommendation from ‘sell’ to ‘neutral’, while Davy raised its recommendation on the airline to ‘outperform’ targeting a price of 2.3 euros, against 1.3 euros previously. Previously, Morgan Stanley had already upgraded the file from 2 to 2.15 euros, while remaining at ‘line weighting’. Analysts have again become clearly positive on the carrier since, according to the ‘Bloomberg’ consensus, 11 are ‘buy’, 7 are ‘hold’ and only 3 are ‘sell’. The average 12-month target is set at 2.06 euros.
* TotalEnergies gains 1% above 56 euros. Deutsche Bank raised its target from 56.2 to 59.8 euros (‘hold’).
* Up 3.3% to 56.8 euros, the title of the IT company Infotel is wrapping up an all-green week. TP ICAP Midcap reiterated its ‘buy’ view on Infotel after the company’s quarterly release. The target is set at 70 euros.
FALLING VALUES
* Fourth drop session for Ubisoft which fell further by 2.4% to 24 euros at the end of the week. According to our information, the selling pressure on the title of the video game publisher is this time linked to a note from UBS which downgraded the file to ‘sell’. Analysts continue to review their copy on the record following the group’s latest release.
* Only really significant fall on the CAC40, Orange yields 1.6% to 11.15 euros.