THE TREND
(Boursier.com) — The CAC 40 is no longer far from 6,100 points as 9:30 a.m. approaches (+0.90% to 6,090 points), continuing its momentum on Friday, a session during which it has already progressed by 2.04%, the renewed optimism therefore being confirmed among investors.
The week which begins promises to be busy with, on the menu, the monetary policy decisions of the European Central Bank, an amplification of the publications of company results, while the political situation in Italy, always complicated, will be scrutinized closely. Calls multiplied over the weekend for Mario Draghi to reconsider his decision to leave the presidency of the Council and allow Italy to avoid a new political crisis.
The decision on the rates of the Board of Governors of the Central Bank will be known on Thursday and while a rise in the cost of credit of 25 basis points is widely anticipated, uncertainties remain on the anti-fragmentation instrument prepared by the institution. Before that, the market will take note on Tuesday of the final inflation figures for the month of June in the euro zone, an increase of 0.8% being expected from one month to another, while at an annual rate the increase should represent 8.6%.
In terms of values, Solvay is off to a strong start, following its announcement of its intention to revise its forecasts for the year upwards.
WALL STREET
New York ends the week on a note of optimism, after good retail sales figures in the United States, opportunely allaying fears of a slowing economy and inflation. Investors are finding some peace of mind regarding the US Federal Reserve’s steering of the rate hike.
Indeed, two “hawkish” members of the Fed, Christopher Waller and James Bullard, spoke out on Thursday in favor of a rate hike of 75 basis points this month and not of 1%, a more aggressive scenario. that Wall Street had begun to integrate into prices, in the wake of the burning report on inflation, released on Wednesday. On the business results side, the publications of Citigroup (+13.23%) and Wells Fargo (+6.12%) are welcomed.
ECO AND CURRENCIES
UNITED STATES :
– NAHB US Housing Market Index. (4:00 p.m.)
The euro/dollar parity reached $1.0082 this morning. A barrel of Brent is trading at $102.47. An ounce of gold is traded at $1,715.
RISING VALUES
Solvay (+2.60% to 80.16 Euros) intends to revise upwards its forecasts for the year 2022 when publishing its results for the second quarter. Based on preliminary unaudited figures, Solvay announces that it expects to achieve net sales between 3.4 and 3.5 billion euros and an underlying EBITDA between 855 and 865 million euros in second quarter 2022. The quarter’s performance was driven by both volumes and prices, which made it possible to overcome variable cost inflation.
Holcim (+0.85% to 41.95 Euros) has obtained two grants from the European Union Innovation Fund for its revolutionary carbon capture, use and storage projects in Germany and Poland. Both projects feature scalable technologies to put Holcim at the forefront of decarbonizing Europe. These programs are part of Holcim’s “net-zero” roadmap, validated by the Science Based Targets initiative, including its goal to operate at least one net-zero cement plant by 2030.
Bluelinea (+28% to 1.44 Euro) announces the success of its capital increase with maintenance of shareholders’ preferential subscription rights (DPS) announced on June 23. The Apicil Group, shareholder with 8% of the capital prior to this operation, subscribed, in accordance with its intention, for a total amount of 6,629,523 euros and holds, at the end of the operation, 56% of the capital. . On a non-diluted basis, the participation of a shareholder who held 1% of the capital of the company prior to the capital increase and who did not subscribe to it is now increased to 0.35%. Apicil, having crossed the threshold of 50% of the capital, plans to soon file a draft public tender offer for the shares not held.
FALLING VALUES
Adocia (-4.50% to 4.12 Euros): takes the lead of the biggest declines on the SRD.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
Theradiag
THE LATEST “RECOS” FROM ANALYSTS…
Casino : Barclays lowers its target price to 12.5 euros against 15 euros.
Arkema : Morgan Stanley lowers its target price to 91 euros against 105 euros.
MARKET INFORMATION
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IN SHORT
Vergnet : the CEO, Patrick Werner, leaves, splitting of the functions of President and CEO.
McPhy : Gigafactory project of electrolyzers approved by the EC.
EDF : An association of minority shareholders will attack the State.