THE TREND
(Boursier.com) — The CAC40 manages to rebound quite sharply after two previous sessions of decline. The Parisian index thus resumed a little more than 1% to 6,650 points at the end of the morning. The heads of the Fed and the ECB, however, are keeping very firm rhetoric on the evolution of key rates to counter inflation and we can therefore expect further marked increases, in particular for the ECB on 15 December next.
Wall Street points slightly in the green before the stock market on Friday, at the end of an eventful week marked by an additional good surprise on inflation (with the producer price index), but also more contrasting data.
RISING VALUES
* TotalEnergies rebounded 2.4% to 58.8 euros this weekend. While the barrel of Brent has fallen back below the $90 mark, the energy giant is supported by several favorable notes from analysts. AlphaValue has indeed gone from ‘reducing’ to ‘accumulating’ on the file while raising its target from 60 to 66.4 euros. Bernstein and HSBC reiterated their ‘buy’ advice on the stock. The market is clearly positive on the stock since, according to the ‘Bloomberg’ consensus, 20 analysts are ‘buy’, 9 are ‘hold’ and none are ‘sell’. The average 12-month target is set at 66.19 euros.
* Sanofi gained 2% to 86.2 euros. The European Commission has granted marketing authorization to Enjaymo (sutimlimab) for the treatment of haemolytic anemia in adults with cold agglutinin disease (CAD), a chronic, rare and chronic autoimmune haemolytic anemia severe, which causes the immune system to mistakenly attack healthy red blood cells, causing them to break down or haemolyze.
* Score (+3.7% to 18.3 euros) is actively pursuing a whole series of strong measures to restore its technical profitability. The environment for the year that is beginning is favorable: hardening of the damage and liability reinsurance market, rising interest rates and improvement in the pandemic situation. SCOR is actively preparing the January 2023 renewals, placed entirely under the sign of technical profitability.
* Teleperformance rises more than 3% to 224 euros the day after its decision to withdraw from the most offensive segment of its content moderation activity (Trust and Safety), at the heart of the “Colombian affair”. “After having consulted over the past few days the opinion of a large majority of its shareholders and the financial community regarding the perception of its content moderation activity (Trust and Safety), Teleperformance announces that it has decided to withdraw from the segment. most offensive of this line of service,” management said.
* Fnac-Darty (+0.9% to 34 euros) is studying all possible remedies to challenge the decision rendered today by the High Court of London in the context of the litigation related to the sale of Comet Group Limited in 2012. The High Court of London today ordered Darty Holdings SAS, a subsidiary of the Fnac Darty group, to reimburse an amount of approximately 89.6 million pounds sterling, as part of the sale of the company Comet Group Limited by the Kesa group in 2012.
FALLING VALUES
* Unibail-Rodamco-Westfield stumbles 2.2% to 51 euros at the end of the morning, victim of a note from Goldman Sachs. The influential American investment bank lowered its recommendation on the value to ‘sell’ while reducing its target from 44 to 39 euros. GS highlights execution risk under the property company’s disposal plan, slightly higher vacancy levels than its peers, lower rental margins and higher interest charges on top of a high debt.
* Michelin fell 0.7% to 25.8 euros. BNP Paribas downgraded Michelin to ‘underperform’ with an adjusted target of 26 to 25 euros.