THE TREND
(Boursier.com) — In the wake of its sharp rise yesterday (+1.78%), the CAC 40 still accumulates a few points, bringing it to 6,440 points (+0.45%). The good session in New York also helps, the Nikkei ended up 0.66%.
Investors were reassured by the “minutes” of the Federal Reserve which suggest that a pause in the rate hike of the institution is possible later in the year… A kind of respite! But everything will depend on the next macroeconomic data. And the monthly statistics of household income and expenditure in the United States, which include the PCE consumer price index, closely watched by the Fed, will be published in the early afternoon.
Excluding the volatile categories of energy and food products, the index is expected to rise by 4.9% over one year, which would mark a deceleration after 5.2% in March and would therefore fuel this idea that a tightening more aggressive monetary policy can be avoided…
On the securities side, the start of the session was marked by the decline of JC Decaux, degraded by an analyst, but above all by the collapse of more than 20% of Maisons du Monde following its warning…
WALL STREET
Wall Street had a second rebound session on Thursday, supported by technology stocks and the retail sector, which was reassured by better than expected department store accounts Macy’s and Nordstrom. The publication, the day before, of the “Minutes” of the last meeting of the Fed, did not hold any unpleasant surprises, opening the possibility of a pause in the rate hike in the fall in order to assess its efficiency on inflation.
At the close, the Dow Jones gained 1.61% to 32,637 points, while the broad index S&P500 rose by 1.99% to 4,057 pts, and that the Nasdaq Compositerich in technology and biotech stocks, jumped 2.68% to 11,740 pts.
ECO AND CURRENCIES
UNITED STATES :
– Household income and expenditure. (2:30 p.m.)
– Final index of US consumer sentiment as measured by the University of Michigan. (4:00 p.m.)
The euro/dollar parity reached $1.0746 this morning. A barrel of Brent is trading at $117.25. An ounce of gold is traded at $1,853.
RISING VALUES
AB Science (+8.20% to 10.64 Euros): the Canadian health authority has issued a favorable opinion following the preliminary examination of the registration file for masitinib in the treatment of amyotrophic lateral sclerosis (ALS ), which means that the dossier submitted by AB Science has been reviewed and deemed acceptable for review. This opinion from the agency is an important step in the procedure and marks the start of the review of the file. Under NOC/c (‘Notice of Compliance with Conditions’) status, Health Canada has a maximum of 200 calendar days to review the file.
Saint Gobain (+0.70% to 54.64 Euros) signed agreements for the sale of its glass processing activities Eckelt Glas and Glas Ziegler in Austria to the private German group Aequita, as well as the sale of its stake in the joint venture Glaskontor Erfurt, glass processing activity in Germany, to Caleoglas Group. Completion of the transactions is expected by summer 2022. These activities generated combined revenue of approximately €55 million in 2021 and employ more than 320 people. These operations are part of the continuation of the strategy to optimize the group’s profile, in line with the ‘Grow & Impact’ plan.
FALLING VALUES
Houses of the world (-23% to 13.60 Euros): logically sanctioned after his big warning on results. Due to the sharp deterioration in the macroeconomic environment and supply conditions, the home decoration and furniture specialist now only anticipates a 2022 EBIT margin of 5% or more, against around of 9% previously, while sales are expected to decline in mid-single digit negative against an increase expected so far. Free cash flow should be within a range of 10 to 30 ME, against 65 to 75 ME previously targeted.
Ipsen (-0.10% to 96.20 Euros) shared encouraging data that will be presented on the multi-target tyrosine kinase (TKI) inhibitor, Cabometyx (cabozantinib), for a variety of cancer types during the annual meeting of the American Society of Clinical Oncology (ASCO 2022) to be held June 3-7. Data presented will include results in metastatic non-small cell lung cancer (NSCLC), as well as the established indications of advanced renal cell carcinoma and radioactive iodine refractory differentiated thyroid cancer (RAI-R DTC). These data show that the therapeutic potential of Cabometyx as a key therapeutic option against a wide range of tumors continues to be realized.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
–
THE LATEST “RECOS” FROM ANALYSTS…
JP Morgan is now for sale on J.C. Decauxwith a target price reduced from 22.70 to 16.60 Euros.
MARKET INFORMATION
Hamilton Global Opportunities : buys back MIH shares.
IN SHORT
Transgene : positive preliminary Phase I data of TG4050 coming soon.
Multimedia comics : Olympus Game anticipates raising more than $300,000.
Noxxon : dose escalation study evaluating NOX-A12 in brain cancer to be presented soon.
Enertime : the financing of the Fouquières-lès-Lens project is progressing.