(Boursier.com) – THE TREND
After two sessions of rebound, the stock markets have already corrected the situation on Friday. The CAC40 lost 1.12% to 6,926 points at the close. The ECB has started to reduce the monetary wing, but in a cautious manner … The European Central Bank thus confirmed on Thursday the end of its purchasing program during a pandemic period (PEPP) next March, but it will at the same time strengthen its “classic” program to maintain a good level of support in a still uncertain health and economic context. The boss of the ECB, Christine Lagarde, also considered very unlikely a rate hike in 2022 despite inflation which reached 4.9% in November in the euro area …
ECO AND CURRENCIES
John Williams, the chairman of the New York Fed, today ruled on CNBC that inflation was too high at this point … already to be doubled to $ 30 billion monthly this week following the FOMC meeting. In contrast, Williams believes that inflation could be a determining factor in the speed of subsequent rate hikes. The official adds that the Fed wants to keep an eye on real interest rates. Williams further specifies that the current economic situation has few historical comparisons. He notes, however, that asset values appear high overall by historical standards, and that some of these assets may correct.
In the United States, where the recovery cycle is more advanced than in Europe, the US Federal Reserve adopted a more “hawkish” tone on Wednesday evening, announcing the anticipated end of its massive asset purchases in March 2022. More importantly, the Fed is now planning to proceed with no less than three quarter-point rate hikes next year. This would bring the “fed funds” rate between 0.75% and 1%, in a context where inflation reached 6.8% over one year in November … The euro is camping below 1.13 this evening / $. Oil goes back to $ 73.50 per brent.
RISING VALUES
Genfit ignites by 40%, while Ipsen returns 8%. Ipsen and Genfit have just concluded an exclusive license agreement for elafibranor, a compound evaluated in Phase III in primary biliary cholangitis, as part of a long-term global partnership. The agreement grants Ipsen the global rights to develop and commercialize elafibranor, Genfit’s ‘first-in-class’ drug candidate, PPAR alpha and PPAR delta receptor agonist, in primary biliary cholangitis (PBC). The experimental drug elafibranor is being evaluated in the global Phase III trial, ELATIVE, the first results of which are expected in early 2023. Genfit receives € 120m upfront payment and is eligible for additional payments of up to € 360m, as well as tiered, double-digit royalties of up to 20%. In addition, Ipsen becomes a shareholder of Genfit for 8% of the capital, via an equity investment of 28 million euros.
SII : + 8% followed by Boiron
Ruby gains nearly 5% after announcing the acquisition of an 80% stake in Photosol France to accelerate its transition to renewable energies and decarbonization.
Ubisoft : 4.7% increase with Claranova (+ 4%)
Worldline : + 3.7% with Groupe Gorgé and Ramsay with Lisi
Orpea : + 3% followed by Haulotte, Casino (+ 2.7%) with Cie des Alpes and Gecina
Sodexo : + 2% with DBV, Carrefour, Technip Energies
Burelle : + 1.5% with FDJ, Accor, FNAC Darty, Elior, Neoen
Airbus (+ 1.5%) benefited from the large firm order fromAir France KLM (+ 1.5%) relating to 100 aircraft of the Airbus A320neo family and with acquisition rights for 60 additional aircraft, to renew the fleets of KLM and Transavia Netherlands, and to renew and grow the fleet of Transavia France.
FALLING VALUES
Hermes 6% relapse with Navya (-5%) and Lysogen
Guillemot : -4% with BioMerieux, Exel after the accounts
Soitec : -3% followed by McPhy, Atari (-2.5%) with Valeo
Stellantis yields 2%. The Crédit Agricole Group plans with Stellantis to create a pan-European player in long-term rental, owned in equal parts by CA Consumer Finance and Stellantis. CA Consumer Finance would become Stellantis’ exclusive long-term leasing partner, and the joint venture would aim to manage a fleet of over one million vehicles by 2026. This exclusive partnership project between CA Consumer Finance and Stellantis would allow them to immediately join the ‘top 5’ of long-term rental players in Europe.
LVMH : -2% followed by Mersen, Nexans, Guerbet
Alstom : -1.5% with Crédit Agricole, Innate, Somfy
BNP Paribas : -1.5% with Capgemini and Vallourec
In the red for the eighth consecutive session, EDF dropped 1% this weekend after dropping more than 15% Thursday. The electrician issued a warning on his results, the consequence of an extension of the shutdown of the reactors of its Civaux plants and the shutdown of those of the Chooz plant. The company has detected faults near the cooling circuits of the Civaux nuclear power plant (Vienne), which will force the group to extend its shutdown to carry out work and to interrupt production at the Chooz power plant (Ardennes), equipped with the same type of reactors.