THE TREND
(Boursier.com) — After the two new records signed yesterday by the CAC 40: closing at 8,087.48 points and absolute during the session at 8,094.07 points, the Parisian index continues its momentum and crossed 8,100 points this morning , signing a new all-time high at 8,107.41 points.
The slight increase in the consumer price index in the United States in February did not call into question the scenario of a reduction in the Federal Reserve’s key rates.
Few meetings in the United States today and the market will wait for the monthly publication of retail sales tomorrow.
Quoting…
This morning we learned that the British economy rebounded in January as expected, according to data published on Wednesday by the Office for National Statistics. Gross domestic product grew 0.2% after contracting 0.1% the previous month.
WALL STREET
Wall Street was particularly well oriented this Tuesday… The markets finally reacted well to the publication of inflation data. The S&P 500 is firm with a gain of +1.12%, to 5,175 pts. The Dow Jones is in the movement and takes 0.61% to 39,005 pts. The Nasdaq rose +1.54% to 16,265 pts.
ECO AND CURRENCIES
UNITED STATES :
– Weekly report on US domestic oil stocks. (3:30 p.m.)
Europe:
– British industrial production. (08:00)
– British manufacturing production. (08:00)
– British trade balance. (08:00)
– British GDP. (08:00)
– Industrial production in the euro zone. (11:00)
The euro/dollar parity reached $1.0931 this morning. A barrel of Brent is trading at $82.42. An ounce of gold sells for $2,160.
RISING VALUES
Vallourec (+8.50% to 16.10 Euros) announces that ArcelorMittal has entered into an agreement to purchase the stake of 28.4% of the voting rights and 27.5% of the capital held by Apollo in Vallourec (65,243,206 shares), at a price of 14.64 euros per share, for a total purchase amount of 955 million euros.
Ruby (+2.90% to 27 Euros) announces today that it has entered into exclusive negotiations with I Squared Capital for the sale of its 55% share in Rubis Terminal. Rubis Terminal is a major player in the storage of liquid products with 4 million m3 of storage capacity in France, Spain and in the Antwerp and Rotterdam hubs. Rubis created the Rubis Terminal JV with I Squared (45% stake) in 2020 to implement a strategy of product diversification and geographic expansion, with a view to creating value for the company. By taking exclusive control (100%) of the JV, I Squared will be able to use its financial capacity to continue to accelerate the growth and diversification of Rubis Terminal alongside the management team in place.
BNP Paribas (+2.40% to 61.13 Euros) confirms the steady growth trajectory of its net profit group share (RNPG) throughout the cycle. Thus, the year 2024 will be at a level higher than the distributable net profit published in 2023. BNP Paribas also confirms the ROTE objective for 2025 in a range of 11.5% to 12% as well as that of 12% in 2026. This trajectory, associated with a distribution rate of 60%, should enable a return to shareholders of around 20 billion euros cumulatively over the three years 2024, 2025 and 2026. At the same time, the banking group announces an acceleration and expansion of operational efficiency measures of the order of 400 million recurring euros, thus bringing the objective of the 2022-2025 plan to 2.7 billion euros. The Group also confirms the objective of a jaws effect greater than on average 2 points for the 2022-2025 plan.
Mersen (+7.20% to 38.50 Euros): In 2023, the group achieved a record turnover of 1.211 billion euros, organic growth of +13.2% compared to 2022, of which around 5 % is linked to price increases. Overall, sustainable development markets – including renewable energy, electronics and green transport – represent 56% of turnover. The Group’s current Ebitda reached 202.7 million euros, up 8.7% compared to 2022 (+14% at constant exchange rates). Current operating profit reached €137.3 million, representing growth of +12.9% compared to 2022 (+19% at constant exchange rates). The current operating margin was 11.3%, an increase of 40 basis points. The Group’s share of net income amounts to €81.6 million for the year 2023, representing growth of more than 20% compared to 2022.
FALLING VALUES
Nexity (-4.40% to 8.50 Euros): biggest drop on the SRD this morning after already two consecutive sessions of decline of more than 5%.
LATEST SALES/RESULTS PUBLICATIONS…
Groupe Partouche, Lumibird, Tonnellerie François Frères
THE LATEST “RECOS” FROM ANALYSTS…
HSBC remains a buy on Euronext with an adjusted objective of 88 to 94 euros.
Bernstein remains at ‘outperform’ on Accor with a target that climbs from 42 to 46 euros. Jefferies moves from ‘underperformance’ to ‘buy’ on the hotel group by targeting a price of 47 euros.
BNP Paribas Exane is at ‘outperformance’ on Teleperformancebut with a target adjusted from 205 euros to 173 euros.
MARKET INFO
Europlasma: drawing of 200 OCEANE for 1 ME of nominal value
METabolic Explorer: backup and request for legal recovery for subsidiaries
IN SHORT
TheraVet: BIOCERA-VET available for equine dental and orthopedic pathologies
Mersen obtains 12 ME in subsidies
Solocal supports takeover by Ycor; massive dilution in sight