THE TREND
(Boursier.com) — The famous upward catalyst arrived yesterday! The US consumer price index for October was up 0.4% compared to the previous month. Weaker pace than expected and perhaps already the first effects of rate hikes… Enough to encourage the Fed to finally slow down the frantic pace of its rate hikes in the minds of the markets… It will have made the he effect of a bomb on the markets (+7.35% on the Nasdaq!) and this morning, the CAC 40 intends to continue its momentum since it is expected to rise, towards 6,600 points!
The announcement by the Chinese authorities of a reduction in the duration of the quarantine imposed on contact persons and travelers coming from abroad is also likely to boost the morale of investors this morning!
In Paris we will follow the evolution of Teleperformance which will resume trading after its suspension yesterday. The title then gave up 1/3 of its capitalization following the Colombian scandal… Did the ESG funds all offload yesterday?
WALL STREET
Wall Street took off on Thursday after US inflation figures were wiser than expected! The S&P 500 climbed 5.54% to 3,956 pts, the Dow Jones recovered 3.70% to 33,715 pts and the Nasdaq… +7.35% to 11,114 pts! The barrel of WTI crude also recovered 2% to $88.20. The dollar index fell sharply by more than 2% against a basket of reference currencies and the euro, which recovered to 1.02/$. Bitcoin also goes up a little to $17,163.
ECO AND CURRENCIES
UNITED STATES :
– Preliminary index of US consumer sentiment measured by the University of Michigan. (4:00 p.m.)
Europe:
– Final German consumer price index. (08:00)
– Preliminary UK third quarter GDP. (08:00)
– British industrial production. (08:00)
– British trade balance. (08:00)
The euro/dollar parity reached $1.0216 this morning. A barrel of Brent is trading at $95.49. An ounce of gold is traded at $1,757.
VALUES TO FOLLOW
Teleperformance asked Euronext Paris to resume the listing of its shares on the regulated market of Euronext Paris, from Friday November 11, 2022, at the opening of the Stock Exchange. The stock price was suspended following a plunge of 33.9% to 175.95 euros. The company lost a third of its market capitalization following a report by Time, indicating that the TikTok subcontractor in Colombia would be investigated for “traumatic work”. The Colombian Ministry of Labor has launched an investigation into Teleperformance regarding allegations of violation of trade union rights, traumatic working conditions and low wages. Teleperformance reportedly employed TikTok content moderators who earned just $10 a day, according to Time. “Workers were routinely required to view videos showing murder, child abuse and sexual violence as part of their jobs. Attempts by workers to unionize were met with intimidation and threats,” says Time.
Akwell recorded consolidated revenue of €251.1 million in the third quarter of 2022, up +18.7% as reported compared to the previous year, and +22.3% at constant scope and exchange rates . In a still difficult market context, the group confirms the gradual recovery of its activity but is still down -3.3% compared to the third quarter of 2019, before the health crisis. Over the first nine months of the financial year, the company’s turnover at constant scope and exchange rates increased by +10.2%.
Casino repurchased on the market a nominal amount of 67,050,000 euros of the Quatrim 2024 covered bond. The repurchased bonds will be canceled in the coming days. The total nominal amount of the Quatrim 2024 covered bond will thus be reduced to 652,775,000 euros after cancellation. Redemptions of the Quatrim 2024 covered bond were funded through the senior secured escrow account. As of November 10, 2022, the balance of the secure senior escrow account is nil.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
inventive, Esso, claranova, UFF, winfarm, Adeunis, Ramsay General Health, Cafom, Genfit
THE LATEST “RECOS” FROM ANALYSTS…
Jefferies raises its recommendation to “buy” on the group Score, versus “keep”. The target price goes from 17.5 to 22.5 euros.
Berenberg raises its price target to SES Imagotag at 170 euros, against 140 euros.
MARKET INFORMATION
ADP Group : Crédit Agricole Assurances strengthened to 7.73%.
Holcim launches a share buyback program.
IN SHORT
Recylex : court-ordered liquidation.
Saint Gobain and Icade will co-develop low environmental impact buildings in France.