THE TREND
(Boursier.com) — A slightly positive bias: the precedence indicators show a possible increase in the CAC 40 at the opening, less than an hour before, but the trend appears fragile and is likely to change within 9 hours .
Investors remain in a past week marked by the rebound of the Parisian market following less categorical comments from the main central banks while several economic data, including the employment report and the ISM services index in the United States, have confirmed the slowdown of the economy, reinforcing the scenario of an impact of the tightening of the major central banks and the prospect of a lasting pause on the cost of credit. This scenario will be tested by new data, including the final monthly figures for services activity in several euro zone countries expected during the day, while this indicator in the United Kingdom showed a further contraction on Friday in october.
WALL STREET
American markets ended the week on their green path… Employment figures, less robust than expected in October, reinforce expectations of an end to the Fed’s current cycle of monetary tightening. American bond yields accentuate their decline after the publication of this data, which is still eagerly awaited by the market. At the end of this week of exceptional optimism, the S&P 500 gained +0.94% to 4,358 pts (+4.6% over the week). The Dow Jones advanced +0.66% to 34,061 pts for an overall advance of +3.44% over the week. The Nasdaq recorded the best performance of the American markets with an increase of +1.38% ending at 13,408 pts. The technology index rebounded by 5.39% over the week.
ECO AND CURRENCIES
France :
– Markit French PMI final services index. (09:50)
Europe:
– German industrial orders. (08:00)
– Markit Spanish final PMI services index. (09:15)
– Markit Italian final PMI services index. (09:45)
– Markit final German PMI services index. (09:55)
– Markit final PMI services index in the euro zone. (10:00 a.m.)
– Markit final composite PMI index in the euro zone. (10:00 a.m.)
– Sentix Investor Confidence Index. (10:30 a.m.)
– UK CIPS Construction PMI. (10:30 a.m.)
The euro/dollar parity reached $1.0738 this morning. A barrel of Brent is trading at $85.43. An ounce of gold sells for $1,983.
VALUES TO FOLLOW
Air France-KLM :The Scandinavian airline SAS announced that it had reached an agreement with the consortium formed by Air France-KLM, Lind Invest, the Castlelake investment fund and the Danish State, for restructuring aid amounting to 13, 2 billion Swedish crowns (1.13 billion euros). The agreement notably provides for Castlelake to provide SAS with a loan to replace financing previously provided by the American private equity group Apollo, the airline said. Lind Invest, the Castlelake investment fund and the Danish State, for restructuring aid amounting to 13.2 billion Swedish crowns (1.13 billion euros).
Orpea today publishes its consolidated turnover for the 3rd quarter of 2023 and for the first 9 months of the financial year, which are up respectively +11.1% and +10.8%, thanks to a rate of average occupancy of the group increasing and price increases.
Vivendi said it deeply regrets that the Board of Directors of Telecom Italia accepted KKR’s offer for the acquisition of the TIM network, without having previously informed and solicited the vote of Telecom Italia’s shareholders, thus violating the applicable governance rules.
LATEST SALES/RESULTS PUBLICATIONS…
Buy-Louer.fr, Delfingen
THE LATEST “RECOS” FROM ANALYSTS…
AlphaValue remains a buy on the Societe Generale with a target which increases to 40.30 euros.
HSBC retains Kering but with a target reduced from 485 to 440 euros.
Nomura remains buyer on Stellantis with a price target reduced from 31 to 27 euros.
Deutsche Bank remains at purchase on Thales with a target raised from 156 to 158 euros.
MARKET INFO
ESI Group: Keysight acquires a majority stake in the capital
Geci International: Serge Bitboul clarifies his positions
Teleperformance: Majorel will exit the market on December 11
Lagardère: Vivendi has nearly 60% of the financing round
Paragon ID: mandatory withdrawal in sight
IN SHORT
CGG: collaboration with LightOn
Genomic Vision: cessation of payments
FDJ completes takeover of Irish National Lottery operator