THE TREND
(Boursier.com) — After yesterday’s small drop at the close (-0.11%), the CAC 40 is moving forward and rose to 7,560 points (+0.25%) this morning, at around twenty points from its new record established yesterday during the session, at 7,582.47 points. Barely a little more than a point above the previous record of April 24 of 7,581.26 points… The closing record was not broken, the CAC 40 not having continued on its momentum… It remains at 7,577 points as of April 21. This could be the challenge of the day, which will depend on the trend in New York this afternoon, before the Fed meeting…
The Fed meeting could indeed constitute a new catalyst. Investors will be particularly attentive to the tone used in order to detect signs on the evolution of the economy and the long-term trajectory of interest rates, while a new status quo on borrowing costs for this meeting does not hardly the subject of doubt.
Yesterday, the American consumer price index for the month of November showed an increase of 0.1% compared to the previous month, against a stable consensus and after a month of October without any change…
WALL STREET
Wall Street rose on Tuesday to its best levels of the year, the S&P 500 gaining 0.46% to 4,643 pts and the Dow Jones +0.48% to 36,577 pts, the two indices gradually getting closer from their historic peaks… The Nasdaq for its part gains 0.70% to 14,533 pts.
ECO AND CURRENCIES
T he British economy contracted more than expected in October as high borrowing costs began to weigh heavily on activity across the Channel. GDP fell 0.3%, its first decline since July after a 0.2% gain in September, the National Statistics Office said. Economists expected a decline of 0.1%.
UNITED STATES :
– American Producer Price Index. (2:30 p.m.)
– Fed monetary policy statement. (8:00 p.m.)
– Press conference by Jerome Powell. (8:30 p.m.)
Europe:
– Industrial production in the euro zone. (11:00)
The euro/dollar parity reached $1.0783 this morning. A barrel of Brent is trading at $72.76. An ounce of gold sells for $1,977.
RISING VALUES
IBS (+31% to 69.40 Euros) announces the conclusion of an investment protocol between the members of the family group of Bernard Huvé (founder and chairman of the supervisory board of SII), Eric Matteucci (chairman of the management board of SII) , the other members of the SII management board, the company SII Goes On and funds managed or advised by Blackstone Tactical Opportunities Advisors LLC, with a view to filing a draft simplified public purchase offer for SII shares. The offer is made at a price of 70 euros per SII share. It will be open for a period of 10 trading days, and possibly followed by a compulsory withdrawal, if the conditions are met, in particular the achievement of a threshold of 90% of the capital and theoretical voting rights of the company. The price proposed per SII share as part of the offer reflects a premium of 32.3% on the share price at the close of the market on December 8, the last day of trading before the announcement of the operation , and, respectively, 40.6%, 47.1% and 41.9% on the volume-weighted average price of SII shares over the last 20, 60 and 120 trading days.
Partouche Group (+4.30% to 20.40 Euros): the Gross Games Product (GRP) increased by +1.7% to 181.8 million Euros, a satisfactory performance given the high basis of comparison (effect post-Covid catch-up in the 2nd half of 2022). For the 2023 financial year, Groupe Partouche’s GGR increased by +10.2% to €701.5 million (€636.7 million a year earlier).
Figeac Aero (+4.70% to 4.20 Euros): Over the first half of the 2023/24 financial year, Figeac Aero recorded a turnover of 181.2 ME, organic growth of 24.9%. Up 33.3%, current EBITDA stood at 19.9 ME compared to 14.9 ME in the first half of 2022/23, an increase of 110 basis points in the margin to 11% of turnover. The net result, Group share, improved to -5.3 ME, compared to -6.7 ME a year earlier. Net debt as of September 30, 2023 is €287.3 million compared to €283.6 million as of March 31, 2023…
FALLING VALUES
LVMH : (-1.30% to 723.8 Euros): penalized by a note from JP Morgan. The American bank downgraded the number one luxury brand to ‘neutral’, targeting 790 euros.
LATEST SALES/RESULTS PUBLICATIONS…
Qwamplify, Osmozis, Entech
THE LATEST “RECOS” FROM ANALYSTS…
JP Morgan remains ‘neutral’ on Believe with a target raised from 11.50 to 11.60 euros.
JP Morgan remains ‘overweight’ on Publicis and increases its target from 93 to 95 euros. JP Morgan also remains ‘overweight’ on TF1but with an adjusted objective of 13.40 to 12.30 euros.
Citigroup remains ‘neutral’ on Dassault Systèmes with a target raised from 40 to 46 euros.
Goldman Sachs remains ‘neutral’ on TotalEnergies with a target reduced from 69 to 68 euros.
MARKET INFO
Xilam Animation launches a capital increase of 3.68 ME
Mastrad files a request for a safeguard procedure
Lhyfe announces the success of its first syndicated corporate loan of 28 ME
Bic: reduction of capital by cancellation of treasury shares
Altur Investissement: Suffren Holding and the concert confirm that they hold more than 88% of the capital
IN SHORT
Eutelsat: exclusive distribution agreement concluded between Eutelsat OneWeb and Rawafed Libya
Solutions30 is selected as a partner of Deutsche Glasfaser
Voltalia sells 90 megawatt project in Brazil
HF Company: sale of the LanPark laboratory
Hoffmann Green Cement: prior agreement for a licensing contract in the United States