THE TREND
(Boursier.com) — The CAC40 still gains a few points this Wednesday (+0.1% to 8,195 points), close to 8,200 points despite low transaction volumes. The rankings are very calm since the largest differences among the CAC40 values barely exceed 1%.
The attitude of investors appears to be full of wait-and-see before the publication, on Friday, of inflation figures in several countries in the euro zone and in the United States. The stock market week will however be shortened, Paris, like Wall Street, being closed on Friday for the Easter weekend. This Friday will, however, include numerous interventions from Fed officials including Jerome Powell, as well as some notable US statistics such as the PCE price index. But the Parisian market will only be able to react when the market reopens next Tuesday.
RISING VALUES
* Euroapi rises 5% to 2.65 euros this Wednesday. Remember that the stock of the manufacturer of active pharmaceutical ingredients has plunged by more than 50% since the start of the year. Among the latest broker opinions, JP Morgan is ‘neutral’ on Euroapi with a target adjusted from 4.20 to 3.50 euros.
Quoting…
* Renault increased slightly by 0.4% to 47 euros. The balancing act between Renault and Nissan continues. While the diamond manufacturer announced this morning the sale of approximately 2.5% of the additional capital of its Japanese partner, Nissan confirms that it will invest in Ampère, the electrical and software subsidiary of Renault, independently of its IPO . And this to grow sustainably in Europe, declared Makoto Uchida, CEO of Nissan, during a press conference organized in India. Despite the cancellation of Ampere’s IPO at the start of the year, Jean-Dominique Senard, president of Renault, confirmed in February that this decision would not call into question the investment of its Japanese partners Nissan and Mitsubishi . After long months of discussions at the heart of the restructuring of the Franco-Japanese alliance, Nissan and Mitsubishi committed last year to investing 600 and 200 million euros respectively in Ampère.
* Airbus gained 0.6% to 171.6 euros. Barclays increased its price target from 154 to 202 euros (‘overweight’).
FALLING VALUES
* Vantiva fell 1.2% to 0.146 euros the day after the announcement of a net loss of 283 million euros for continuing activities in 2023. Adjusted EBITDA reached 142 ME (-11.7%) for a single digit revenue down 25.3% to 2.075 billion euros (-23.3% at constant exchange rates). Free cash flow, before financial expenses and taxes, is positive by 13 million euros, down 75 million euros compared to 2022, due to the decline in EBITDA and especially the negative effect of the change in requirements in working capital. In 2024, management is targeting adjusted EBITDA of more than 140 million euros and positive FCF.
* There Societe Generale gives 0.4% to 24.1 euros at the start of the session in Paris. The news around the red and black bank is marked by a note from Deutsche Bank which downgraded the title to ‘hold’ and reduced its target from 32 to 29 euros. DB now prefers Crédit Agricole in the sector.
* Kering fell 1.2% to 360.5 euros. MedioBanca cut its target from 440 to 400 euros (‘neutral’).