THE TREND
(Boursier.com) — Hesitating at the opening, the CAC40 finally took the upward path at the start of the session, rising 0.75% to 7,060 points at 9:30 a.m. Despite a brief passage below 7,000 points, at 6,997.70 points, the Parisian index therefore remains above the symbolic level that it managed to cross yesterday at the end of the session and to maintain at the close.
Central banks’ monetary policies remain the main concern of investors who are trying to determine how quickly the major issuing institutions intend to reduce their measures to support the economy in order to slow the surge in inflation.
European Central Bank President Christine Lagarde tried to allay market fears during a hearing in the European Parliament yesterday by saying there was no need for a significant tightening of monetary policy in the euro zone, inflation being set to decline and stabilize at around 2% in the medium term.
WALL STREET
After hesitating between red and green throughout Monday’s session, Wall Street started the week down slightly. Investors remained cautious, against a background of persistent pressure on interest rates, expecting a less accommodating monetary policy from the Fed, but now also from the ECB.
At the close, the Dow Jones ended quite stable at 35,091 points, while the broad index S&P500 lost 0.37% to 4,483 pts, and that the Nasdaq Compositerich in technology and biotech stocks, fell 0.58% to 14,015 pts.
ECO AND CURRENCIES
France :
– Trade balance in France. (08:45)
United States :
– Trade balance. (2:30 p.m.)
Europe:
– Spanish industrial production. (09:00)
The euro/dollar parity reached $1.1417 this morning. A barrel of Brent is trading at $92.69. An ounce of gold is traded at $1,820.
RISING VALUES
score (+2.15% to 30.24 Euros) starts 2022 with very good results of renewals in Property and Casualty reinsurance. The Group is making the most of a complex and protracted renewal season, to fully implement the strategy announced at its Investor Day in September 2021. SCOR is deploying its capital rigorously, reducing its exposure to lines sensitive to volatility by climatic origin – for which the margins are currently insufficient to compensate for the exceptionally volatile environment -, and by actively redirecting its portfolio towards so-called “Global Lines” specialty treaties (such as: Marine, Engineering, Credit Caution).
TF1 (+1.90% to 8.53 Euros) disputes the communication relating to the distribution of its channels and services made Monday by Molotov. The TF1 Group would like to point out that the decision to offer its channels and services by paying is the sole initiative of Molotov, the latter having unilaterally adhered to its distribution conditions. “However, the TF1 Group remains willing to negotiate with Molotov, as it does with all distributors.
Spartoo (+5.60% to 2.94 Euros): the volume of business amounted to 213.7 ME, up 10.3% compared to the same period last year, when the GMV s amounted to 193.7 ME. The Group thus confirms its objective of growth in business volume of more than 10% compared to 2020.
FALLING VALUES
BNP Paribas (-3.15% to 63.63 Euros) published this Tuesday a net profit higher than market expectations in the fourth quarter, thanks in particular to the drop in provisions linked to the covid-19 pandemic, and said to expect to an average growth of its net income of more than 7% per year from 2022 to 2025. As part of its new strategic plan for 2025, the bank’s management has also indicated that it is aiming for average annual growth of more than 3.5% per year of its income over this period. The more moderate increase in costs should result in growth of more than 7% per year in net income. Net banking income thus increased by 3.7%, to 11.23 billion euros over the past period. The group’s net income climbed 45% in the last quarter of 2021, to 2.31 billion euros, helped by a sharp reduction in the cost of risk in a context of normalization of the credit markets after the health crisis. Analysts were aiming for a quarterly net profit of 2 billion euros on average. The dividend paid for the 2021 financial year will be 3.67 euros per share in cash.
EDF (-2.55% to 8.17 Euros) adjusted its 2022 nuclear production estimate to 295 – 315 TWh, against 300 – 330 TWh. The nuclear production estimate for 2023, currently 340 – 370 TWh, will be adjusted “as soon as possible”…
hexaom (-2% to 40.10 Euros) achieved 2021 turnover of 996.6 ME, up +13% compared to 2020 (+9.7% at constant scope). This level of production in the fourth quarter remained strong (€289.2 million, up +6.5% and +1.5% at constant scope) but was strongly impacted by the extension of delivery times in the materials supply chain, suffered by all building stakeholders.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
Navya, We.Connect, aurea, MGI Digital Technology, country house.
THE LATEST “RECOS” FROM ANALYSTS…
Goldman Sachs is for sale on JCDecaux targeting a price of 21.60 euros.
Jefferies is buying on Airbus by targeting a price of 140 euros, begins to ‘underperform’ the coverage of Saffron aiming for 89 euros and covers Thales with a notice to ‘keep’ targeting 89 euros.
Citigroup reverts from ‘sell’ to ‘neutral’ on Schneider with a target price of 150 euros.
Morgan Stanley reverts from ‘line weight’ to ‘overweight’ on AXA targeting a course of 35 euros.
MARKET INFORMATION
Alan Allman Associates : on compartment B.
Adomos : issue of 3 tranches of OCABSA with a nominal value of 3 ME.
IN SHORT
Virbac enters the pet nutrition market in the USA.
Remy Cointreau : large-scale TV campaign on the occasion of the Super Bowl.
Nicox : development of NCX 4251 in dry eye following a positive meeting with the FDA.
GTT and Shell join forces.
Technip Energies takes a 16.3% stake in X1 Wind.
Nakon announces the acquisition of Midgar Studio.
Buy-Rent.com takes a 9.2% stake in Cocoon-Immo.