Paris opening: the CAC 40 consolidates for the last session of the year


(Boursier.com) – The flagship Parisian index, the CAC 40, is trending down 0.17% to 7.161 pts for this last session of 2021. Note that the Parisian market will close at 2:05 pm. The European markets opened on Friday are also retreating in the wake of Wall Street, at the end of a very positive year for the equity markets despite the pandemic. The ‘Footsie’ in London drops 0.39%. The German market remains closed. The European markets will in any case very likely end the year 2021 with a clearly positive performance. The CAC has so far posted an increase of 29%, the Footsie a gain of 14.2% and the DAX a performance of 15.8%.

Global economic news is extremely limited on Friday, with a South Korean consumer price index ‘online’ up 0.2% in December compared to the previous month, and expanding Chinese PMI indicators ( 50.3 for the CFLP manufacturing index for December, 52.7 for the non-manufacturing).

Operators remain confident in the economic outlook for 2022, despite the expected slight tightening of monetary policies in a context of heavy inflation. The surge in covid cases globally does not appear to be a major disruption to investors, who are banking on a short-term impact without new generalized containment, with the help of new treatments and vaccines. According to the latest developments, Omicron appears to be very contagious but less virulent than the other strains, in particular the Delta variant. Omicron is now dominant in France, after another day of record contaminations of more than 200,000 cases.

For the year 2022, the lifting of monetary support from the Fed, inflation, bottlenecks in supply chains and shortages, as well as the results of companies and of course the aftermath of the pandemic or even elections, will focus attention.

The end of the session was more hesitant Thursday night on Wall Street, the three main indices losing ground in the last minutes of trading. While they were on track to break new all-time highs, the S&P 500 and the Dow Jones finally ended slightly lower, after welcoming encouraging figures for employment in the United States.

At the close of Wall Street, the Dow jones therefore loses 0.25% to 36.398 points, and the S&P 500 displays a slight decline of 0.30% to 4,778 points. The increase did not hold for the Nasdaq, which ultimately lost 0.16% to 15,741 points.

Despite this turnaround, the three main US indices are on track for their third consecutive year of growth, with budgetary plans and especially accommodating monetary policies. the S&P 500 For the time being, it has gained more than 27% since the start of 2021, the Dow jones 19% and the Nasdaq Composite 22%.

Values

Airbus (-0.1%) has just signed a fine order to end the year. Global full-service aircraft lessor Aviation Capital Group (ACG), 100% owned by Tokyo Century Corporation, has signed a memorandum of understanding for 20 A220s and a firm contract for 40 A320neo family aircraft, including five A321XLRs . “We are delighted to expand our portfolio with additional A220 and A320neo Family aircraft. These highly advanced aircraft will reinforce ACG’s strategic objective of providing our airline customers with the most modern and fuel-efficient aircraft. fuel available, ”said Thomas Baker, CEO and President of ACG. The list price for the order is over $ 6 billion.

Biosynex (+ 3.2%) announced the end of the exercise period of its Redeemable Share Subscription Warrants (BSAR) allocated on June 23, 2020. 8,685,927 BSARs were exercised by their holders out of the 9,135,448 issued in June 2020, resulting in the creation of 377,649 new shares at a price of 10 euros. The exercise of the BSARs was thus 95% completed. The total dilution generated was 3.39% for a total of nearly 3.8 million euros raised. Biosynex specifies that these resources will help accelerate its growth, in particular through acquisitions.

Vinci (-0.5%) completes the acquisition of the energy activities of ACS (Cobra IS). The group refers to a major step in its strategy to create a world leader in engineering, works and services in the energy sector and develop renewable energy concession projects. The acquisition price reached 4.9 billion euros, including the cash of the new group.

Thus, following the agreement announced on April 1, 2021, the acquisition of ACS’s energy activities was finalized this morning. The scope of the acquisition covers almost all of the contracting activities of the ACS Industrial Services division, 9 greenfield concession projects under development or under construction – mainly electricity transmission networks in Latin America -, as well as the development of renewable energy projects.

Vinci thus intends to enrich its portfolio of concessions and extend its average maturity, while contributing to the environmental transition. Cobra IS’s activities and geographical presence are complementary to those of Vinci, with the company’s recognized expertise in the realization of turnkey EPC projects in the energy sector and a strong local anchoring in the Iberian Peninsula and in Latin America. Vinci’s business model will be enhanced by Cobra IS’s expertise in the development of renewable energy concessions. The group intends to become a significant player in this sector, with new opportunities identified in the short and medium term, ultimately representing a total capacity of around 15 GW, mainly in photovoltaics and onshore wind power, to which could be developed. add additional gigawatts in offshore wind.

The price of the transaction, entirely financed by the available cash of Vinci, comes to 4.9 billion euros, i.e. an enterprise value, initially agreed between the parties, of 4.2 billion euros to which adds an amount of 700 million euros corresponding to the cash flow of the new group as well as to various adjustments. ACS will receive a price supplement of 40 million euros for each new gigawatt of ready-to-build renewable energy developed by Cobra IS over a period of 8.5 years, up to a total limit of 15 GW, i.e. a maximum additional amount of € 600 million.

In addition, Vinci and ACS have finalized a joint-venture agreement, providing for the creation of a new entity which will have the right to acquire, at market price, the renewable energy assets developed, financed, built and connected to the electricity grid by Cobra IS. Vinci will own 51% of this entity and will fully consolidate it.

Madvertise (-4.4%) announces the completion of a reserved capital increase of € 1,701,171 fully subscribed by Mr. Robert C. Kopple through his revocable American law trust, EL II Properties Trust, and released by debt set-off . The Chief Executive Officer, making use of the sub-delegation conferred on him by the Board of Directors of the Company on December 13, 2021, himself making use of the delegation of authority under the terms of the 17th resolution of the Combined General Meeting of the shareholders of June 24, 2021, decided on December 13, 2021, to carry out a capital increase for a nominal amount of 511,169.20 euros.

Auplata Mining Group (+ 19.6%) brought to the attention of the market the publication, on December 28, 2021, of a Prefect of formal notice dated December 20, 2021 concerning the ‘Dieu-Merci’ site made in application of the provisions of Article L.171-7 of the Environmental Code. Following the judgment of the Administrative Court of Guyana of September 30, 2021, the “Dieu-Merci” site no longer benefits from an authorization to operate. The Prefectural Decree of December 20, 2021 leaves AMG two options to regularize its administrative situation, namely to file a new application for authorization within 12 months, or to decide to cease its activities.

AMG has decided to regularize its administrative situation by submitting a new application for authorization. Noting that “reasons of general interest are opposed to a prolonged suspension of the operation of the facilities of the company AMG”, the Prefectural Decree conditions the resumption of the activities of the site of “Dieu-Merci” on the lifting, by the State services, certain conditions precedent.

Renault gains 0.6%, Worldline 0.3% and Veolia 0.3% as well. Eurofins Scientific consolidates 0.7%, as Alstom and Dassault Systèmes. STMicroelectronics shows a comparable decline. Teleperformance returns 0.6%.



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