(Boursier.com) — THE TREND
Third consecutive session of decline on the Paris stock market with the CAC40 falling to 6,816 points, down 1.52% at the close. The annual gains of the CAC continue to decline, estimated at less than 5% now… It must be said that the cocktail remains explosive between bond rates stretched to almost 5% for the American 10-year, oil prices which are climbing ( 03$ per Brent) with the conflict in the Middle East and corporate results that are struggling to meet expectations… Jerome Powell’s latest comments have not helped matters in this context: “The vigor of U.S. economy and continued labor market tensions could justify further interest rate hikes from the Federal Reserve,” he said. For inflation to sustainably return to the Fed’s 2% target, it “will likely require a period of below-trend growth and further easing of labor market conditions.”
The euro ends this evening at 1.06/$.
RISING VALUES
Technip Energies rose by 5% after yesterday’s fall regarding its activities in Russia, while the group responded to accusations from yesterday’s ‘Le Monde’…
Xilam : +3% with Bastide and SdBM
Vivendi gains 2.8% after solid 9-month sales.
Lhyfe takes 2.5%. Bryan Garnier raised his recommendation on the 100% green hydrogen specialist to ‘neutral’ while maintaining his target at 3.9 euros.
FDJ recovers 2.5% after resistant accounts, followed by Innate, Genfit, Boiron and Prodways with LDC
Equasens increases by 1.5% with Guerbet, Valeo and Argan
FALLING VALUES
Roche Bobois drops nearly 8% the day after the confirmation of its annual objectives. Despite a slight decline in its revenues in the third quarter, the group still anticipates a turnover of at least 425 ME, i.e. growth of around +5% and a further increase in its EBITDA compared to the record of the year 2022. Management also reiterated its distribution policy to shareholders, with, as in 2022, the payment of an interim dividend of 1 euro per share for the current financial year.
Stedim fall of 8% followed by Voltalia (-7%), Sergeferrari and Eutelsat (-6%)
Verimatrix lost 6.8% the day after the announcement of quarterly activity down 12.7%. The group explained that the third quarter was marked by strong growth in revenue from subscriptions on which the sales teams are currently fully mobilized. On the other hand, this level of activity includes the programmed and structural drop in non-recurring revenues corresponding to sales of perpetual licenses and royalties on the production of decoders.
Verallia fall of 5.5%, punished after the announcement of results lower than analysts’ expectations in the third quarter. In a degraded market context since August, Verallia has temporarily adjusted its production capacities to put itself in good start-up conditions in 2024.
Wendel : -5.5% with SMCP
Rexel fell by 5.5% despite the confirmation of its 2023 objectives. The distributor of electrical equipment revealed quarterly turnover of 4.67 billion euros, up 2.6% on a constant day. The consensus was expecting a slightly more marked increase of 3%. Volumes are up +2.3% on a high base effect linked to electrification products and a more contrasted market environment, demonstrating the strength of Rexel’s positioning in its markets. The pricing environment remains favorable for non-cable products, up +1.3% over the quarter.
CGG : -4% with Ose, Beneteau
Sopra Steria : -3.5% followed by Esso, Aramis and Publicis
Bureau Veritas : -3% with Eramet, Eurofins, STM and Bonduelle
Schneider : -2.8% followed by SoiTec, Eurazeo, Ubisoft and SES Imagotag
L’Oreal yields 1.5%. The world’s number one cosmetics company recorded organic revenue growth of 11.1% in the third quarter, just shy of expectations. On a like-for-like basis, i.e. at the same structure and exchange rate, the growth in the group’s turnover L’Oreal stood at +12.6% at the end of September. The Europe Zone achieved exceptional growth of +17.6% on a comparable basis. North America posted growth of +12.6% on a comparable basis while Asia-Pacific was at +1.3%.