Big dilemma this morning. On the one hand, I have to tell something when nothing really happens. And on the other hand, I know that “of all those who have nothing to say, the most pleasant are those who are silent“, as I believe Coluche recalled. So, yes, I have not much to say. The European stock indexes quibble around their highs while wondering if some zealous investors will give them the necessary boost to finish the year at its highest. In the United States, the chip jumps of the S & P500 and the Dow Jones allowed the first to sign a 70e record of the year and in the second a 45e. The dollar has put 7% in view against the euro since the 1er January when the mainstream thought the greenback would be cut off. The promised inflation is here, with the rate hikes to go with it, but bond yields are still struggling to keep up with real rates still stuck in negative territory. An ounce of gold lost $ 100 in a year, while bitcoin jumped 63%. And the coronavirus has caused 5.42 million official deaths worldwide since its eruption, a disastrous series in progress since one variant hunts the other.
When you yourself have little to say for lack of news, the easy solution is either to pick from a reserve of subjects rescue boats (the famous chestnut trees of the press), or to go and steal inspiration from others. which is lacking. By merging the two techniques, I am offering you this morning my mini-ceremony of Zonebourse 2021 productions awards that I hope you will have as much pleasure in going through as we took in preparing them:
- Price of the article that deals with a subject that nobody understands anything about : “How to talk about NFT at Christmas dinner“, from Laurent Pignot, who explains to Uncle Robert why weird people are willing to spend crazy sums to afford something that everyone can get with a simple copy / paste.
- Price of the article which deals with a painful but useful subject : “Is the Fed manipulating the inflation figures?“, by Louis Lefeuvre, the only member of the team born in the 21st century, in which it talks about barbaric words that you sometimes read in the financial press, like” IPC Core “and how the American central bank measures really inflation.
- Prize for the educational article “the best soup is made in old pots” : “Do your actions have a moat?“by Tommy Douziech, where the author, in addition to having produced his own illustrations, recalls this fundamental stock market concept popularized by Warren Buffett, and explains how to determine if a company has a superpower to protect itself from the competition.
- Price of the educational video “it gets better by explaining it” : “Why do 80% of retail traders lose money?“from Xavier Delmas, in which our indefatigable market expert dissects the reasons why individuals should beware of charlatans who promise great luck to gullible neo-investors.
- Price of the file that stings : Dive into the business of OCABSA & Dilutive Financing: the penny-stock machine of Roxane Nojac and myself, on a legal fundraising technique that is widely used in companies that no longer have access to traditional financing, but the consequences of which are most of the time devastating for small shareholders.
European markets are expected to open this morning around equilibrium. Tokyo closed lower and was satisfied with a gain of 5% over the year. The day will be marked by a telephone interview scheduled for the evening between Joe Biden and Vladimir Poutin about the situation at the Ukrainian border. In the rest of the world, China remains in the news for several reasons. First, because Beijing has made new threats against Taiwan and is trying to explain that the de facto closure of the opposition media stand News in Hong Kong is not an attack on press freedom. Then because the indices of mainland China ended the session up on hopes of new measures to support the economy in addition to the current largesse of the Chinese central bank. Finally because of the threat posed by the confinement of the city of Xian, due to coronavirus, on the supply of semiconductors. Micron and Samsung Electronics estimated that their respective productions of DRAM and NAND chips could suffer from the situation. Obviously bad news for an industry which is still unable to catch up with the gap between supply and demand.
Finally, there is still a little grain to grind in the news of the day.
The economic highlights of the day
The weekly US jobless claims (2:30 p.m.) and the Chicago PMI index for December (3:45 p.m.) are on the daily schedule.
The euro fell slightly to $ 1.1334. The ounce of gold settles right at 1,800 USD. The barrel rose slightly to $ 79.45 for North Sea Brent and to $ 76.81 for US WTI light crude. The yield on 10-year US debt climbed 6 points to 1.54%. Bitcoin is hovering around $ 46,800.
The main changes in recommendations
- D’Amico: Kepler Cheuvreux remains for the purchase with a target reduced from 0.14 to 0.13 EUR.
- Volvo Car: DNB Markets moves from buy to hold targeting SEK 80.
Important (and less important) announcements
- Tikehau Capital would have obtained authorization to list a SPAC in Singapore, Pegasus Asia, with Financière Agache de Bernard Arnault (LVMH), Bloomberg has learned.
- Icade is finalizing its 2021 disposal plan by selling an office building for € 45 million in Boulogne-Billancourt.
- Noxxon issues new dilutive financing with Atlas, for an amount of € 17 million, in order to have liquidity until the end of 2022.
- Bluelinea will finalize tomorrow the acquisition of Securitas Téléassistance, which is increasing its subscriber base by 80%.
- The Société Parisienne d’Apports en Capital (formerly Foncière Paris Nord), whose acronym is appropriately SPAC, distributes free BSA to certain shareholders.
- Groupe SFIT signs distribution agreements in Southern Europe, the United Kingdom, Scandinavia and Canada.
In the world
Important announcements (and others)
- Samsung Electronics and Micron Technology believe the containment of Xian could affect chip production.
- SK Hynix completes the first phase of the takeover of Intel’s NAND business for $ 9 billion.
- Biogen shares are up 10.8% after the Korea Economic Daily reported that Samsung BioLogics is in talks to buy the company for some $ 42 billion. The Korean denies it.
- The London Stock Exchange hosts £ 16.8bn ($ 22.7bn) of IPOs in 2021.
- Alibaba is reportedly negotiating the sale of its stake in Weibo to a Chinese state-owned conglomerate.
- RR Donnelley received a non-binding offer at $ 11 per share, higher than Chatham AM’s proposal ($ 10.85).
- Alcoa is reducing its aluminum production in Spain in the face of inflation in production costs.
- Aviva finalizes the sale of its activities in Vietnam to Manulife.
- Xiaomi will double its R&D spending to reach $ 15.7 billion by 2026.
- Wisekey confirms its 2021 revenue forecast.
- Delta Air Lines was named the world’s most successful airline in 2021 and All Nippon Airways the most punctual airline.
- China Evergrande Group loses 9% after another default on a bond maturity.
- Sensetime up 15% for its Hong Kong debut.