THE TREND
(Boursier.com) — The CAC 40, which started above 7,700 points, was still in the green at 9:30 a.m., but again below this symbolic threshold (+0.35% to 7,690 points). Since the surprise announcement of the dissolution of the National Assembly, the Parisian index has lost around 350 points, a decline which peaked at 500 points the week following the announcement.
The trend could however prove volatile today, with investors awaiting new data to assess the trajectory of interest rates in the United States, while on the political front, the elections in France are still in focus. in front of the stage.
On the ECB side, Governing Council member Olli Rehn believes that investors’ expectations for lower borrowing costs on the Old Continent are reasonable. “If you look at the market data, it implies that there would be two more rate cuts, so that we would end up at 3.25% by the end of this year and, with a final rate, between 2.25% and 2.50%,” the leader said in an interview with Bloomberg in Helsinki. “In my opinion, these are reasonable expectations.”
WALL STREET
Wall Street remained divided on Tuesday, with a better trend on the flagship technology index Nasdaq which regained 1.26% to 17,717 points, after suffering the day before in the wake of Nvidia. The S&P 500 gained 0.39% to 5,469 points. The Dow Jones, on the other hand, consolidated by 0.76% to 39,112 points.
ECO AND CURRENCIES
Household confidence fell in June. At 89, the indicator which summarizes it, calculated by INSEE from household responses (mainly received before the 10th of the month), drops by one point and remains well below its long-term average (100 between January 1987 and December 2023). A development in line with market expectations.
France :
– Job seekers registered with Pôle emploi. (12:00 p.m.)
UNITED STATES :
– Sales of new homes. (4:00 p.m.)
Europe:
– German GfK Consumer Sentiment Index. (08:00)
The euro/dollar parity reached $1.0705 this morning. A barrel of Brent is trading at $85.40. An ounce of gold is trading at $2,310.
RISING VALUES
Atos (+2.40% to 1.22 Euro): the Onepoint, Butler Industries and Econocom consortium has ended the ongoing negotiations, as part of the due diligence and discussion phase initiated with the company on June 12, under the aegis of the Conciliator, Maître Hélène Bourbouloux. “Despite the tremendous commitment of Atos employees and the resilience of the group’s customers, the Onepoint, Butler Industries and Econocom consortium has noted that the conditions were not met to conclude an agreement paving the way for a lasting solution for financial restructuring and implementation of the One Atos project,” the consortium said.
Vinci (+0.65% to 102.15 Euros) announced the completion by its subsidiary Vinci Airports of the acquisition of the majority of the capital (50.01%) of Edinburgh airport, alongside Global Infrastructure Partners (GIP), managing the remaining 49.99%, according to a partnership scheme comparable to that of London Gatwick airport. Edinburgh airport is the leading airport in Scotland and the 6th airport in the United Kingdom by its traffic, which has returned to its pre-Covid level. Its growth potential is notably driven by the development of long-haul segments.
VusionGroup (+4.60% to 132.40 Euros) today announces the deployment of smart labels and its solutions within the Netto brand, owned by Salling Group, Denmark’s leading discount supermarket chain. Salling Group, a VusionGroup partner for more than 15 years, will deploy SESimagotag electronic labels and the VusionCloud platform in 550 Netto stores, between the third quarter of 2024 and the second quarter of 2025.
FALLING VALUES
Partouche Group (-0.80% to 19 Euros): the good dynamic of activity in the 1st half materialized by a Gross Games Product (GRP) up by +1.7% to 346.9 ME and a single digit revenue up +2.3% to €220.6 million. The Group’s Ebitda shows a drop of -4% to 41 ME (i.e. 18.6% of turnover), compared to 42.7 ME (19.8% of turnover) in the first half of 2023. Current Operating Result (ROC) of the Group stands at 15.5 ME (19.3 ME in the first half of 2023). This decline materializes in the three sectors of activity (casinos, hotels and others). Purchases and external charges at 72.6 ME increased by 2 ME (+2.8%). Personnel costs amounted to 90.6 ME, an increase of 3.2 ME, due in particular to an increase in the minimum wage on January 1, 2024 and new conventional scales applicable on April 1, 2024. The Group’s net profit Partouche amounts to 7.1 ME (18.8 ME as of April 30, 2023).
TURNOVER/RESULTS…
Entech
THE LATEST “RECOS” FROM ANALYSTS…
Redburn begins trackingArkema with a ‘buy’ rating and a target of 125 euros.
Jefferies is still buying on Airbusbut the price target is revised downwards to 155 Euros against 190 Euros previously.
MARKET INFORMATION
Schneider Electric: details on the prices of the bond transaction
Frey extends the maturity of its debt and sets up 400 ME of new financing
IN SHORT
Biomerieux: Green light for the Biofire Spotfire Respiratory/Sore Throat (R/ST) Panel Mini test
Metavisio: “exceeding the symbolic threshold of 100 ME in turnover”
genOway: solid start of the Shanghai joint venture
HDF: EC validates France’s financial support