THE TREND
(Boursier.com) — The CAC 40 settled above 8,200 points this morning, even climbing to 8,236.48 points, a level not reached since April 2. The Parisian index has not closed above 8,200 points since March 28.
The latest comments from the President of the San Francisco Federal Reserve, Mary Daly, encourage the markets, the head of monetary policy having declared Thursday that the process of disinflation was continuing in the United States, even if uncertainty remained “considerable” .
The markets also took note of the Bank of England’s more flexible monetary discourse despite the renewal of its key rates. Its governor, Andrew Bailey, said he was “confident” in the trajectory followed by inflation, a confidence reflected in the new economic projections published by the central bank on this occasion… The main key rate of the BoE has thus maintained at 5.25%, its highest level in 15 years.
WALL STREET
Wall Street advanced on Thursday in a still calm market, the wave of corporate financial results gradually ending, while investors still watch for new signals regarding the trajectory of interest rates around the world, the latest statements coming from the BoE moving in a less restrictive direction… The DJ takes 0.85% to 39,387 points, the S&P500 gains 0.51% to 5,214 points and the Nasdaq climbs 0.27% to 16,346 points.
ECO AND CURRENCIES
UNITED STATES :
– Preliminary index of American consumer sentiment measured by the University of Michigan. (4:00 p.m.)
– American budgetary balance. (8:00 p.m.)
Europe:
– UK GDP for the first quarter (preliminary). (08:00)
– British industrial production. (08:00)
– British trade balance. (08:00)
– Italian industrial production. (10:00 a.m.)
The euro/dollar parity reached $1.0778 this morning. A barrel of Brent is trading at $84.45. An ounce of gold sells for $2,357.
RISING VALUES
Viel & Cie (+0.50% to 10.45 Euros) continues its growth in 2024 in continuity with the activity of 2023. Consolidated turnover recorded growth of 5.2% at constant exchange rates and by 3% at variable exchange rates to reach 299 million euros. In April 2024, Compagnie Financière Tradition’s activities recorded strong growth at constant exchange rates compared to April 2023.
Sanofi (+1.10% to 94.23 Euros) announces the conclusion of a co-exclusive licensing agreement with Novavax, a biotechnology company based in Maryland, United States. The terms of the agreement include: a co-exclusive license to co-commercialize a single adjuvanted COVID-19 vaccine from Novavax globally (excluding countries with existing licensing agreements). advance purchase and India, Japan and South Korea, where Novavax has partnership agreements); an exclusive license for Novavax’s adjuvanted COVID-19 vaccine for use in combination with Sanofi’s influenza vaccines; and a non-exclusive license to use Matrix-MTM adjuvant in vaccine products. Sanofi will also take a minority stake (less than 5%) in Novavax.
Coty (+2.50% to 10.44 Euros) generated reported operating profit of $77.8 million, up 79% year-on-year, supported by strong sales and margin gross, which resulted in a 220 basis point increase in reported operating margin to 5.6%. Coty’s third-quarter adjusted operating profit of $143.9 million increased 17% year over year, leading to a 90 basis point increase in adjusted operating margin at 10.4%. The third quarter showed a net profit of $0.5 million with a reported net profit margin of breakeven, down from the previous year’s net profit of $105.1 million. Adjusted net income of $43.8 million decreased from $168.1 million.
FALLING VALUES
Equasens (-1.45% to 54.70 Euros): biggest drop on the SRD this morning, going against the market in the green.
TURNOVER/RESULTS…
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THE LATEST “RECOS” FROM ANALYSTS…
Jefferies begins monitoring the group Hermes with a recommendation to purchase.
Citigroup raises its recommendation on Great to “buy” versus “sell”, as well as its price target at 125 euros, compared to 85 euros previously.
Citigroup raises its price target on Schneider from 210 to 235 euros.
Jefferies raises its target price on Amundi from 71 to 80 euros.
MARKET INFO
NHOA: Closing of the acquisition of the remaining 40% of KLC in Portugal for Atlante
IN SHORT
CGG launches its cloud artificial intelligence solution