(Boursier.com) — THE TREND
The CAC 40 starts the week on a strong note, up 0.75% to 6,521 points, while Wall Street ended Friday’s session in scattered order after better than expected US unemployment figures… The S&P 500 fell 0.16% to 4,145 pts, but the Dow Jones gained 0.23% to 32,803 pts and the Nasdaq fell 0.50% to 12,657 pts. In Paris, the (rare) news from companies are well received on the side of Neovacs or Veolia for example…
ECO AND CURRENCIES
Despite the current “technical recession” in the United States, the labor market is therefore still doing very well. According to the report of the United States Department of Labor, the creation of non-agricultural jobs for the month of July 2022 came out at 528,000, more than double the consensus which was established at 250,000. Better still, the US unemployment rate fell to 3.5%, against 3.6% consensus and 3.6% a month before. Job creations for the month of June have also been revised upwards, to 398,000 against 372,000 previously estimated…
Job creations in the private sector in July 2022 numbered 471,000, here again more than double the consensus of local economists. These creations in the private sector for the month of June have been revised to 404,000, against 381,000 previously estimated. Manufacturing job creations were 30,000, twice as many as expected. The labor force participation rate reached 62.1%. The average hourly wage rose by 0.5% (0.3% consensus) compared to the previous month and by 5.2% over one year.
According to the CME Group’s FedWatch tool, the probability of another strong move by the Fed of 75 basis points after the next monetary meeting on September 20-21 is now 65.5%, which would bring the federal funds rate between 3 and 3.25%, compared to 2.25 to 2.5% currently. The probability of a rate hike of 50 basis points is now only 34.5%. Thus, the markets are counting on a third rate hike of three quarters of a point, and are even considering a range of 3.5 to 3.75% (probability 46%) at the end of the year…
The euro is stuck at 1.02/$. Oil rose slightly to $95 per Brent. Bitcoin is at $23,432.
RISING VALUES
Neovacs (+9%) announces that it has entered into negotiations with the company Pharnext (+70%) in order to support the biopharmaceutical company at an advanced clinical stage developing new therapies for neurodegenerative diseases without satisfactory therapeutic solution.
The contemplated financing would support Pharnext’s operations and cash flow needs, including the pivotal Phase III clinical study of PXT3003 in Charcot-Marie-Tooth disease type 1A (CMT1A). The first results of this study are expected to be announced in the fourth quarter of 2023.
Néovacs has proposed an investment in the form of loans that can be converted in whole or in part into Pharnext shares for a maximum amount of €20 million, along with stock warrants that can ultimately give access to around 1/3 of the capital of the company. Pharnext company. A first immediate payment of 2.5 ME could be put in place as soon as the agreement is signed. This new financing would replace the fixed-rate loan for an amount of EUR 12 million announced by Pharnext on June 8, 2022 and in addition to the ongoing OCEANE program which Neovacs has requested, if the negotiations were to conclude positively with Pharnext, the temporary suspension for a period of at least 3 months while studying with the company the best possible options.
Navya (+7%) announced a new partnership in the United States with the Minnesota Department of Transportation (MnDOT), AECOM, and the city of White Bear Lake, MN, for the deployment of a Navya Autonom(R) Arma shuttle.
This one-year pilot project will provide a new transportation option in the community of White Bear Lake. The shuttle will serve a 2.5 km route connecting several residential facilities to the Youth Center (YMCA) as well as PAI, The Boulders and Willow Wood Apartments. Community members and partners have named the shuttle “Bear Tracks” because it creates a whole new service in an area that until now did not benefit from a shared transport solution.
Claranova : +4% after its accounts with Genomic
OVH : +3% followed by Abionyx, Innate, Deezer
Veolia (+2.5%) announced the sale of Suez’s waste activities in the United Kingdom to Macquarie. The French environmental services giant announced this morning the signing of a unilateral purchase agreement by which Macquarie Asset Management irrevocably undertakes to acquire 100% of the capital of Suez Recycling and Recovery UK Group Holdings. The sale proceeds for Veolia will represent approximately 2.4 billion euros.
The completion of this transaction provides an effective response to the main concerns of the British competition authority (Competition and Markets Authority). It remains subject to its approval as well as to the lifting of the right of first refusal granted by Veolia to the new Suez on the occasion of the merger in 2021. Following the completion of this antitrust remedy, Veolia will remain a major player in the waste treatment market in the United Kingdom with a turnover of approximately 2 billion euros.
The valuation level of this disposal, showing a multiple of 16.9x normalized 2021 EBITDA, stands at a level significantly higher than the acquisition price resulting from the takeover bid price. This price level makes it possible to immediately crystallize the value of all the synergies then envisaged.
Mauna Kea : +2% with Valeo, Faurecia, Bonduelle and Innate
Gorged Group : +1.8% followed by Tarkett, Ruby
Guillemot : +1.5% with AXA, Engie, Cie des Alpes
SoiTec : +1% with Believe, Coface, Vinci
FALLING VALUES
poxels (-4%). The clinical-stage biopharmaceutical company developing innovative treatments for serious chronic diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic diseases, announced today that it has signed an agreement with IPF to restructure debt and the setting up of an equity financing line with IRIS for a maximum amount of 6 million euros.
Based on these two agreements, the Company estimates that its resources will be sufficient to finance its operations and its investment needs at least until February 2023.
NHOA : -3% followed by Metabolic, BigBen (-2%)
M6 (-1%) with Sanofi, Casino, Interparfums, Aramis
L’Oreal : -0.5% with Orpea, Séché, JC Decaux, BioMerieux, Xilam