THE TREND
(Boursier.com) — Profit-taking logically outweighs the CAC40 in the first trade of the day (-0.90% to 6,730 points), after the sharp rebound (+3.08%) yesterday, legitimized by the “positive” signals detected by Ukrainian President Zelensky after the Russian announcement of a “reduction of military activity” around kyiv.
Ukraine has also offered to adopt a neutral status in exchange for guarantees on the country’s security. For their part, the Russian forces are probably seeking to refocus their striking power towards the separatist regions of Donetsk and Lugansk. Tactical effect or definitive choice in this conflict? Opinions differ…
On the bond market, Tuesday’s brief inversion of the yield curve in the United States at two and ten years for the first time since September 2019 revives fears of a recession in the world’s largest economy.
The macroeconomic program of the day is quite extensive, particularly in Europe with, among other things, the first estimate of German inflation for March. The final figures for the gross domestic product (GDP) in the US for the fourth quarter will also be published, as will the ADP firm’s survey of US employment in the private sector.
WALL STREET
The New York Stock Exchange ended Tuesday sharply higher, its 4th positive session, welcoming the progress made during the latest negotiations in Turkey between Russia and Ukraine. Investors displayed their optimism despite the appearance of worrying signals on the bond markets, where the yield on 2-year T-Bonds is now close to that of the 10-year US bond… Oil continued to decline, the Brent prices returning to around $110 a barrel.
At the close, the Dow Jones gained 0.97% to 35,294 points, while the broad index S&P500 advanced by 1.23% to 4,631 pts, and that the Nasdaq Composite, rich in technology and biotech stocks, rose 1.84% to 14,619 pts. The DJIA and the S&P 500 thus sign a 4th consecutive session of increase, while the Nasdaq recorded its 3rd increase in 4 sessions.
ECO AND CURRENCIES
United States :
– ADP report on US private employment. (2:15 p.m.)
– Final US GDP for the fourth quarter. (2:30 p.m.)
Europe:
– Preliminary Spanish consumer price index. (09:00)
– European business climate. (11:00)
– European Economic Confidence Index. (11:00)
– European Index of Confidence in Industry. (11:00)
– European index of trust in services. (11:00)
– Final European Consumer Confidence Index. (11:00)
– Preliminary German consumer price index. (2:00 p.m.)
The euro/dollar parity reached $1.1111 this morning. A barrel of Brent is trading at $110.91. An ounce of gold is traded at $1,924.
RISING VALUES
Exclusive Networks (+1.20% to 17.73 Euros) today presents its financial results for the financial year ended December 31, 2021, the publication of which was approved by the Board of Directors on March 29, 2022. published gross income for the year was 3.3 billion euros, up 15.1% compared to 2020. Adjusted EBITA for the year came to 119.2 ME, (+10% compared to 2020 ). Adjusted net income for the year was €72.6 million, up 85.1% compared to 2020.
Abionyx Pharma (+18% to 2.35 Euros) announces that the American Food and Drug Administration (FDA) has granted orphan drug designation (ODD – Orphan Drug Designation) to Bio-HDL CER-001 for the treatment of lecithin deficiency -cholesterol acyltransferase (LCAT).
Orpea (+ 1.40% to 39.50 Euros) confirms again to be in favor of the publication of the report of the Igas and the Igf, of which it had been announced by the Minister responsible for autonomy on Saturday March 26 that would not be made public. “We were only asked for our agreement to this publication on Monday March 28 by the cabinet of the Minister, to which we replied by email thus “we confirm to you that we share the opinion of the Minister Mr. Véran, who considers that it is important to make the final report public, with the exception of what is covered by business secrecy.” The only elements that could fall under business secrecy would relate only to specific information, the disclosure of which would be likely to harm the competing interests of Orpea and the concealment of which would in no way alter the facts, analyzes and conclusions which appear in the report” concludes the group.
FALLING VALUES
Unibail-Rodamco-Westfield (-0.90% to 67.95 Euros) will share with the market today its trajectory until 2024 and beyond: After the completion of its comprehensive deleveraging program, which includes the radical reduction of the financial exposure to the United States in 2022 and 2023, URW will emerge as a European pure player with a portfolio of high-quality, high-performing assets located in the continent’s wealthiest regions, cities and catchment areas. The European retail NRI will represent the vast majority of URW’s revenue and is expected to return to pre-COVID levels on a run rate basis in 2023 with full effect in 2024. With the resumption of ‘Convention & Exhibition’ activity this plan targets a return of the Group’s EBITDA for Europe to 2019 levels in 2024. URW will reinstate a sustainable dividend from fiscal year 2023 in line with the company’s disciplined capital allocation framework.
Herige (-4.65% to 47 Euros) achieved a turnover of 712 ME, a record level reflecting growth of 18.6% compared to 2020 and 14.5% compared to 2019. to the business momentum recorded across all business lines and performance actions, operating income showed a strong improvement at €31.2 million at +58.4% compared to 2020. The margin rate of was 4.4% compared to 3.3% a year earlier and 2.9% in 2019. The 2021 net income, Group share showed a very strong improvement at 19.1 ME compared to 10.5 ME in 2020 and 7. 5 ME in 2019. Based on the 2021 annual results, the Supervisory Board has decided to propose the payment of a dividend of 1.80 Euro per share.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
Toosla, I.CERAM, Pizzorno Environment, Affluent Medical, Visiomed
THE LATEST “RECOS” FROM ANALYSTS…
Credit Suisse remains ‘neutral’ on Nestle.
Jefferies stays long on Danone but with an adjusted target of 64 to 58.50 euros.
AlphaValue is still long on Technip Energiesbut with an adjusted target of 18.70 to 17.70 euros.
MARKET INFORMATION
Toutabo : suspension of trading.
Prologue moves to Euronext Growth.
Madvertise : arrival of Park Partners GP within the capital.
IN SHORT
Lexibook : renewal and extension of the license agreement with Disney.
AB Science could appeal against the AMF sanction.
Manitou inaugurates a new factory in Candé.
GTT chosen by Eastern Pacific Shipping and Hyundai Samho Heavy Industries.
BOA-Concept : major contract of more than 10 ME.