Mid-session Paris: the CAC40 very close to 7,300 points


THE TREND

(Boursier.com) — A calm session in perspective to end the week with low trading volumes while Wall Street, closed yesterday for Thanksgiving, will only resume this Friday for half a session. The CAC40 still maintains its momentum, increasing slightly by 0.2% to 7,290 points, now less than 300 points from its April highs.

The list, however, reveals little upward or downward variation among the CAC40 values. Concerns about the increase in respiratory illnesses in China are still leading to some profit-taking in the luxury sector.

RISING VALUES

* Lectra jumped 6% to 29.7 euros. The title of the group specializing in software and automatic cutting systems for leather or textiles is boosted by a rating from BNP Paribas Exane which raised its recommendation on the value to ‘outperform’ by targeting 35 euros.

* TotalEnergies gained 1% to 63.5 euros and returned close to its highs. The barrel of Brent is once again gaining ground above 81 dollars.

* Vivendi gained 0.4% to 8.75 euros. Oddo BHF adjusted the slider from 13.5 to 13 euros (‘outperform’).

FALLING VALUES

* Among the biggest declines in the CAC40, LVMH, Kering And Hermes lose around 1%. Chinese health authorities have not detected anything unusual or new pathogens in the country. This is Beijing’s response as the number of cases of respiratory diseases and pneumonia has increased among children, the World Health Organization (WHO) said on Thursday, which said it had received the requested data earlier. As required, Chinese authorities responded within 24 hours to the WHO’s request for clarification on Wednesday after several groups, including the Emerging Disease Surveillance Program, reported outbreaks of undiagnosed pneumonia in children in northern China. They attributed this increase to the lifting of restrictions put in place to combat the COVID-19 pandemic and to the circulation of known pathogens such as influenza or the virus that causes COVID-19…

* Michelin lost 0.3% to 29.8 euros. Barclays downgraded Michelin to ‘underweight’ but with a price target of 34 euros.

* Orpea logically continues its decline of around 15% to 0.25 euros while the subscription period for the first capital increase of around 3.9 billion euros is open until next Monday, at a price of 0.0601 euro per new share. This bailout should mainly be done by offsetting debts. The clearance capital increase is in fact the subject of subscription commitments as a guarantee by Orpea’s unsecured creditors by way of offsetting debts up to the portion of the issue which would not have not been subscribed to by the holders of DPS. The new actions are due to arrive on December 4.



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