THE TREND
(Boursier.com) — The historic record recorded during the session on Friday, at 7,800.91 points, was not beaten yesterday… However, the CAC 40 ended well with a closing record at 7,768.55 points. This morning, the precedence indicators, initially in the red, seem to be recovering somewhat as 8:30 a.m. approaches…
The stock markets are still somewhat lacking in catalysts to go higher, notably due to the absence of Wall Street yesterday and a lighter agenda in terms of economic indicators. The announcement of a greater than expected drop by the People’s Bank of China in its five-year prime lending rate did not act as an upward catalyst…
WALL STREET
Closed yesterday.
Quoting…
ECO AND CURRENCIES
UNITED STATES :
– Leading indicator index. (4:00 p.m.)
The euro/dollar parity reached $1.0774 this morning. A barrel of Brent is trading at $83.45. An ounce of gold sells for $2,019.
VALUES TO FOLLOW
Liquid air publishes a 2023 turnover slightly higher than analysts’ expectations, at €27.608 billion, up 3.7% compared to 2022. The group’s published sales, however, are down 7.8% , impacted by unfavorable energy (-7.6%) and currency (-4.2%) effects, the significant scope effect being slightly positive at +0.3%. Analysts expected an annual turnover of 27.550 billion euros, according to a market consensus. Air Liquide declared that it had almost achieved its objective of increasing its operating margin, at +160 basis points, planned for 2025, and indicated that it was doubling its initial ambition. The group’s current operating income (ROC) thus reached 5,068 million euros in 2023, a published increase of 4.2%. On a like-for-like basis, it grew by +11.4%, which is significantly higher than the comparable sales growth of +3.7%, highlighting a strong leverage effect. The group’s share of net profit reached 3,078 million euros in 2023, strong published growth of +11.6% and an increase of +21% excluding foreign exchange. It thus exceeds 3 billion euros for the first time. Recurring net income (Group share) stood at 3,320 million euros, up +5% and +13.3% excluding currency effect. Net profit per share stood at 5.90 euros, a published increase of +11.7% compared to 2022, in line with the increase in net profit (Group share). In 2024, Air Liquide is confident in its ability to once again increase its operating margin and achieve growth in recurring net income, at constant exchange rates.”
Bic : At €526.1 million, revenue for the 4th quarter of 2023 increased by +15.9% at constant exchange rates (+2.4% on a comparable basis), including +13.5 points attributable to Argentina . This growth is driven by double-digit growth recorded in Latin America and sustained performance in Europe, particularly in the Blade Excellence division. For 2023, BIC’s turnover stands at 2.263 billion euros. It increased by 9.2% at constant exchange rates (+3.5% on a comparable basis), including +5.5 points attributable to Argentina. Net income, Group share in 2023 stands at €226.5 million (€198.6 million in 2022). It comes out to 5.30 euros per share. The effective tax rate in 2023 was 27.6%, compared to 28.4% in 2022.
LATEST PUBLICATIONS OF TURNOVER/RESULTS…
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THE LATEST “RECOS” FROM ANALYSTS…
Berenberg begins monitoring Technip Energies with a “buy” rating and a price target of 26 euros.
JP Morgan adjusts its target to Covivio from 55 to 50 euros.
HSBC lowers its price target to Forvia from 21 to 19 euros.
MARKET INFO
Orpea: the new shares will list on March 22
IN SHORT
CGG: a study in Southeast Asia for CO2 storage
Memscap: obtaining a new innovation project
Figeac Aero: inauguration of the Casablanca production unit dedicated to Leap-1A nacelles