THE TREND
(Boursier.com) — The trend is downward in pre-opening, the CAC 40 potentially opening below 7,100 points at 9 a.m., which remains on a rebound on Friday (+0.42%) following 4 sessions of decline. The publication on Wednesday of US inflation figures should be the justice of the peace of the week on the markets! The question of rates remains crucial in the eyes of investors and the configuration of resistance in the employment market across the Atlantic is still cause for concern for the Fed as to the effectiveness of its monetary tightening measures. It immediately stretched the equity markets. Admittedly, the Fed interrupted its cycle of rate hikes in June after 10 consecutive tightenings, but it anticipates two more increases this year. Also according to the FedWatch tool, the markets are now pricing in a 92% chance of a 25 bp rate hike at the next Fed meeting on July 26.
WALL STREET
At the end of the week, the American indexes all turned red, investors digesting a rather mixed report on the employment market. At market close, the S&P500 dropped -0.29% to 4,398 points. The Dow Jones dropped -0.55% to 33,734 points. The Nasdaq fell -0.13% to 13,660 points.
ECO AND CURRENCIES
UNITED STATES :
– Stocks and wholesale sales. (4:00 p.m.)
– Consumer credit. (9:00 p.m.)
Europe:
– Sentix Index of Investor Confidence. (10:30 a.m.)
The euro/dollar parity reached $1.0948 this morning. A barrel of Brent is trading at $77.87. An ounce of gold is traded at $1,920.
VALUES TO FOLLOW
SES Imagotag : As in the first attack on Gotham City Research on June 22, the management of SES Imagotag issued a press release following the second round of accusations against it which fell on Friday morning. “False and deliberately misleading accusations”, according to the listed company, which also speaks of “numerous and gross inaccuracies which have the sole purpose of manipulating and profiting from a possible drop in the share price.” The company confirms that it has notified the Autorité des Marchés Financiers of the many breaches committed by Gotham City to its regulations and filed a complaint today with the National Financial Prosecutor’s Office, in particular for the dissemination of false and misleading information. If it does not go into the details of the accusations, the company indicates that it will publish in the coming days an “equally complete and detailed rebuttal of this second publication”.
Nicox SA Announces Market Research in the United States to Assess the Commercial Potential of NCX 470, a Nitric Oxide (NO)-Donating Bimatoprost, in Development for the Reduction of Intraocular Pressure (IOP) in Patients with Glaucoma angle or ocular hypertension and provides an estimate of its potential annual worldwide net sales. “A leading independent agency has conducted, at the request of Nicox, a market study in the United States which confirmed the interest of ophthalmologists and optometrists in the potential use of NCX 470 as a treatment option for patients who do not “are not achieving their target intraocular pressure. Market research also provided insights to inform our selling price and reimbursement strategy, which were taken into account for our assessment of potential revenue” said Andreas Segerros, Managing Director of Nicox. “Based on data from this market research, information provided by Ocumension Therapeutics, our partner in China and Southeast Asia, and sales estimates in other territories, we believe that net sales annual worldwide sales of the NCX 470 could reach more than $300 million within eight years of the US and China launches.”
TotalEnergies strengthens its partnership with Sonatrach. On the occasion of the meeting on July 9 in Algiers between Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Toufik Hakkar, Chairman and CEO of Sonatrach, several agreements were signed to strengthen cooperation between the two companies in the production of natural gas in Algeria, in the delivery of liquefied natural gas (LNG) to Europe, as well as in the development of renewable energies in Algeria.
LATEST REVENUES/RESULTS PUBLICATIONS…
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THE LATEST “RECOS” FROM ANALYSTS…
HSBC is downgrading its recommendation to “hold”, against “buy”, on Pernod Ricard and its price target at 212 euros, against 236 euros previously.
Goldman Sachs is long on Sodexo with a target raised to 112 euros.
Deutsche Bank raises group target score from 27 to 30 euros and its objective of 30 to 35 euros on Ubisoft.
Morgan Stanley is ‘line weighted’ on Liquid air with an adjusted target of 148 euros and is ‘line weighted’ on Euronext.
canned stifel Hermes with a target adjusted to 1820 euros.
jefferies preserves Saffron with a target price raised from 130 to 140 euros.
MARKET INFO
Gaussin: success of the non-dilutive fundraising of 8 ME
Archos: Yorkville Advisors Global LP sold shares
Keyrus: the K Eagle Investment concert points to 67% of capital
HDF: Damien Havard holds 61.23% of the voting rights
IN SHORT
eureKING: proposed acquisition of Skyepharma
Nacon: restructuring at Daedalic Entertainment