THE TREND
(Boursier.com) — Second session of sharp rebound for the CAC40 which took up 1.42% in a general rebound movement encompassing the banking and energy sectors. The main index of the Paris Stock Exchange returned to 7,112 points at the close. It thus regained nearly 300 points after its low point yesterday morning hit below 6,800 points.
On Monday, at the end of the session, the banking sector had begun its recovery thanks in particular to statements deemed reassuring by supervisors in Europe on bondholders who had initially felt aggrieved by the Credit Suisse rescue plan, fearing that this sets a precedent… The main central banks have also committed themselves to providing liquidity in dollars to stabilize the financial system.
The US central bank is holding its monetary policy meeting this Tuesday and Wednesday and according to the CME Group’s FedWatch tool, which has been offering very volatile readings in recent days, there is an over 80% chance that the Fed will raise interest rates. an additional quarter point tomorrow in order to fight against inflation… Thus, the probability of a range ranging from 4.75% to 5% on the fed funds rate largely dominates against the 17% probability of a monetary status quo which would leave rates in the current range of 4.5 to 4.75%. In the meantime, the euro is back to 1.0770/$. Oil is recovering a little close to $75 per Brent.
RISING VALUES
Lhyfe : +10%, while the pioneering company in the production of green and renewable hydrogen for transport and industry announced this morning a 49% stake in the capital of the Finnish company Flexens, developer of green and renewable hydrogen and so-called “Power-to-X” projects. A first investment for Lhyfe, which illustrates its desire to develop rapidly in countries focusing on green and renewable hydrogen. The two entities are thus accelerating their commercial deployment and their projects in Finland.
Founded to capitalize on the unique expertise acquired within the framework of the Smart Energy Åland (SMÅ) research program, Flexens has developed since 2018 significant skills in the modeling of energy systems and in the development of projects.
The company, which now has 19 people, aims to become a leader in green and renewable hydrogen and Power-to-X (transformation of electricity into another energy carrier) from renewable energy sources. The company is aligned with Finland’s ambitions to become a European leader in Power-to-X.
Lhyfe and Flexens have started their first collaborations on joint projects in 2020… Now officially linked, the companies will combine their expertise, their market knowledge and their commercial pipelines to accelerate current projects and identify new opportunities in the countries northern Europe, particularly related to major offshore projects, in order to achieve the decarbonization objectives they have set…
poxels goes up 10% with Medincell
Antine : +7% with Esso (+6%) and ALD, followed by Atos (+5%)
Rexel : +4.5% with Coface, McPhy, Amundi, Nicox
Up more than 4% BNP Paribas finds almost 55 euros, followed by the Societe Generale, Axa And Agricultural credit (+2.2%).
Eramet bounced back more than 4%. The buying flow on the file is to be linked to a note from Kepler Cheuvreux which took over the coverage of the mining group with a ‘buy’ notice and a target of 135 euros. Of the 6 analysts following the file, listed by ‘Bloomberg’, 5 are now ‘positive’ and 1 is to ‘keep’. The average 12-month target is set at 143.6 euros.
Valeo : +4% with Eramet, BigBen, Elis, Alstom
Renault (+3.7%) and Stellantis (+2.2%). According to ACEA figures, registrations of new cars in the EU rose, for the 7th consecutive month, by +11.5% in February to 803,000 registrations.
Accor : +3.5% with Worldline, Wendel, Catana
TotalEnergies rose by 2.5% with the rebound in the barrel of oil. Morgan Stanley went back from ‘online weighting’ to ‘overweight’ by targeting a price of 64 euros.
Sanofi gains 0.8%. The European Commission has approved Dupixent (dupilumab) in the European Union for the treatment of severe atopic dermatitis in children aged 6 months to 5 years who are candidates for systemic therapy. With this approval, Dupixent becomes the first and only targeted medicine indicated for the treatment of children in this age group in Europe and the United States.
FALLING VALUES
rally : -4.8% followed by Orpea (-2.5%), Ubisoft
Showroomprivé : -2% with Aramis, Voltalia
Fermentalg : -1.5% with ABC Arbitrage
colas : -1% followed by Eutelsat, Neoen, JC Decaux
Sopra Steria fell 0.5% after the announcement of the acquisition of the Dutch Ordina for 518 million euros. The digital services company agreed to pay 5.75 euros per Ordina share to afford its target, materializing a premium of 36% on the closing price of Ordina on March 14. An operation carried out entirely in cash, which will be financed entirely with the group’s cash and existing credit facilities. The merger of the two entities will lead to significant complementarities both from a commercial and operational point of view, says the French firm. Sopra Steria anticipates an accretive impact on earnings per share from the first year (+1.2% in 2024) then 3.7% in 2025.