(Boursier.com) — THE TREND
The CAC 40 is moving into slightly positive territory at the opening this Tuesday in a calm market, up 0.1% to 7,028 points. The trend remains hesitant and the gains limited… The Parisian index, however, is trying to stay above 7,000 points, a level that it fell during the last two sessions and notably yesterday, reaching a low of 6,963, 02 points.
The Tokyo stock exchange has just finished sharply higher this Tuesday (+1.20%), in the wake of Wall Street. The comments of an official of the American central bank, Patrick Harker, supported the markets… The week will also be very lively on the American market, with a battery of statistics, numerous interventions by officials of the Fed, but also and perhaps above all extremely busy business news in terms of quarterly results publications…
Wall Street accelerated last night, regaining some energy after a trying last weekend against a backdrop of tensions on the bond markets and concerns about the lasting level of high Fed rates in a tense geopolitical climate… The S&P 500 gained 1.06% to 4,373 pts, the Nasdaq gained 1.20% to 13,567 pts and the Dow Jones rose 0.93% to 33,984 pts.
ECO AND CURRENCIES
To be continued in the United States:
– Retail sales. (2:30 p.m.)
– American industrial production. (3:15 p.m.)
– Business stocks and sales. (4:00 p.m.)
– NAHB U.S. Housing Market Index. (4:00 p.m.)
Europe:
– German ZEW economic sentiment index. (11:05 a.m.)
– ZEW European Economic Sentiment Index. (11:05 a.m.)
The euro/dollar parity reached $1.0555 this morning. A barrel of Brent is trading at $90.
RISING VALUES
Edenred rises by 5%. Sodexo (+1.5%) and Elior (+3%) are also in sight at the start of the session. Contrary to what was feared for service and payment groups, the Competition Authority considers that, if price capping can constitute a response to market failures, it does not constitute the most appropriate response in this case. . In an opinion intended for the government, the regulator “recommends as a priority that it make dematerialization compulsory, seek a structural solution to rebalance the balance of power on the market and put in place appropriate regulation of the sector”.
Abionyx and SFL (+4%) are also sought after
Catana Group (+3.5%) displays very high growth again in 2023 (+38%) which takes it past the symbolic milestone of 200 ME in turnover. With these cumulative performances, CATANA GROUP demonstrates that it has perfectly taken advantage of the euphoric market of the post-COVID period to take a significant and valuable market share for the future.
Elior : +3% followed by M&P and MdM
Airbus increases by 2% with LFE, Thermador, Innate (+2%)
Aramis : +1.5% with P&V
Wendel (+0.7%) announces the entry into exclusive negotiations with a view to acquiring a controlling stake in IK Partners from its partners who would also reinvest, as part of the planned transaction, part of the sale proceeds in the future IK funds. As part of the initial transaction (which should be finalized in the first half of 2024), Wendel would invest €383 million, or approximately 12.5 times the estimated 2024 pre-tax FRE, to acquire 51% of the capital of IK Partners and the right to 20% of the carried interest generated on all future funds raised by IK Partners. The 383 million euros would be paid by Wendel in two stages: 255 million euros at the time of closing, 128 million euros 3 years after closing under certain conditions. The balance of IK Partners’ capital, i.e. 49%, would be acquired by Wendel as part of additional transactions, which would take place between 2029 and 2032.
Renault (+0.3%) In the 3rd quarter of 2023, global sales of the Renault brand reached 356,747 units, a significant increase of 11% compared to the 3rd quarter of 2022. Over the first 9 months of the year, Renault sold 1,128,885 vehicles, i.e. +11% compared to 2022. Renault is the second best-selling brand in Europe in 2023 with growth of 25% in the 3rd quarter and 22% since the start of the year (726,938 registrations ). Renault outperforms in the C segment with an increase of 36% since the start of the year.
FALLING VALUES
Prodways drop of 18% after its warning. The turnover of Prodways Group amounts to 16 ME in the 3rd quarter of 2023, or approximately 1 ME below the level of the same period in 2022. The activity of Prodways Group is particularly penalized by the weakness of deliveries of printers, anticipated for several months, to which is added an unfavorable economic situation which impacts short-cycle activities, in particular printing on demand.
Overall over the first 9 months of the year, Prodways Group’s revenues are relatively stable, supported by the resilience of the medical sector in particular for sales of 3D Materials and Audiology, two activities with high added value.
The slowdown in activity in the third quarter of 2023 makes the achievement of the 2023 guidance uncertain… As a reminder, this was “around +5% growth in turnover” and “around 8% of current EBITDA margin”. Prodways Group remains determined to navigate this demanding economic environment with prudence and perseverance. The company continues to adapt to market challenges while investing in innovation and improvement of its products and services in order to maintain its position as a key player in the 3D printing market…
Atos down 2% with Fermentalg, Xilam, Adocia
Orpea falls by 1.5% followed by Vantiva, Stedim, Sword
Assystem : -1% with Carmila, FNAC Darty, Saint-Gobain, STM