(Boursier.com) — THE TREND
This start of the year remains marked by a clear correction in stock market indices, in particular the American Nasdaq which has already lost 3.3% in three sessions. The CAC40, which had recovered a little yesterday, already fell back into a cautious atmosphere this Friday, down 1.2% to 7,360 points, while awaiting employment figures in the United States for the month of December (consensus 3.8% unemployment, 160,000 non-agricultural job creations – including 130,000 in the private sector).
The annual inflation rate in the euro zone is estimated at 2.9% in December, compared to 2.4% the previous month according to preliminary data from Eurostat. Regarding the main components of inflation, food, alcohol & tobacco should experience the highest annual rate in December (6.1%, compared to 6.9% in November), followed by services (4% , stable compared to November), industrial goods excluding energy (2.5%, compared to 2.9% in November) and energy (-6.7%, compared to -11.5% in November). Annual ‘core’ inflation, which excludes the most volatile elements, is expected to reach 3.4% compared to 3.6% in November. A level in line with market expectations.
The markets are also still worried about the risks of armed escalation in the Middle East. Enough to keep Brent oil at $78 per barrel…
RISING VALUES
* The Medical Research Society MedinCell advances 2% to 7.64 euros after a jump of more than 8% on Thursday. Jefferies initiated monitoring of the stock with a ‘buy’ rating and a price target of 12 euros, representing a potential appreciation of +74% compared to Wednesday’s closing price. The analyst considers Medincell to be the best positioned player in the field of long-acting injectable products thanks to its advanced drug delivery technology which should allow it to outperform its competitors in indications where the medical need is high and growing.
* No significant progression among the CAC40 values and alone Orange shows a slight increase.
FALLING VALUES
* Remy Cointreau collapsed by more than 11% to 96 euros after having already lost more than 5% over the last three days. The selling pressure on the spirits group, which has been at its lowest level since May 2020, is linked to information from China to the extent that the Chinese Ministry of Commerce announced the launch of an anti-competitive investigation into spirits. -life of wine, such as cognac, imported from the European Union. The investigation by Chinese authorities followed a complaint from the China Alcoholic Beverage Association on behalf of the local wine spirits industry, the ministry said.
* Pernod Ricardalthough less exposed to wine spirits, fell 5.5% to 144 euros, the biggest drop in the CAC40.
* Luxury remains battered with declines of around 2% for LVMH, Kering and Hermès.
* Schneider Electric lost 2% again to 171.6 euros, while the stock is among the strongest gains in a year (+25%). Among the latest broker opinions, Morgan Stanley remains at ‘market weighting’ on the group with a target raised from 155 to 168 euros.