THE TREND
(Boursier.com) — Has the CAC 40 fallen too low in the eyes of investors? Enough yesterday to arouse the desire for cheap buyouts this morning: the Parisian index is indeed expected on a slight rebound at the opening.
However, the market context remains complicated for a CAC 40 which has dropped more than 17% since January 1: the almost synchronized rise this week in interest rates by several central banks, including the American Federal Reserve, and the multiple warnings on the risks of recession reinforce uncertainties, pushing investors to take refuge in the dollar and the bond market to the detriment of equities…
To be monitored today: the monthly PMIs on manufacturing and services activity.
WALL STREET
Wall Street fell again on Thursday, after the sanction the day before following a still very harsh speech by Jerome Powell… The S&P 500 lost another 0.84% to 3,757 pts, the Dow Jones lost 0.35% to 30,076 pts and the Nasdaq -1.37% to 11,066 pts. On the Nymex, a barrel of WTI crude recovered 0.8% to $83.60. The dollar index rises another 0.5% against a basket of currencies, while long rates are still on the rise…
ECO AND CURRENCIES
France :
– Preliminary French manufacturing PMI markit index. (09:15)
– Preliminary French markit PMI index for services. (09:15)
UNITED STATES :
– US preliminary composite PMI index. (3:45 p.m.)
– US preliminary manufacturing PMI. (3:45 p.m.)
– Markit Preliminary US Services PMI. (3:45 p.m.)
Europe:
– Import prices in Germany. (08:00)
– Spanish final GDP for the second quarter. (09:00)
– markit German preliminary manufacturing PMI. (09:30)
– Markit Preliminary German Services PMI. (09:30)
– Markit Preliminary European Composite PMI Index. (10:00 a.m.)
– Markit Preliminary European Services PMI Index. (10:00 a.m.)
– markit European preliminary manufacturing PMI. (10:00 a.m.)
– Final Italian GDP. (10:00 a.m.)
– UK Preliminary CIPS Manufacturing PMI. (10:30 a.m.)
– Preliminary UK CIPS Services PMI. (10:30 a.m.)
The euro/dollar parity reached $0.9833 this morning. A barrel of Brent is trading at $90.28. An ounce of gold is traded at $1,673.
VALUES TO FOLLOW
Biosynex is suspended on the Euronext Growth Paris market, from September 22 at 5:40 p.m. This suspension comes at the request of the company, pending the publication of a press release. It will continue until further notice.
Akwell : The gross operating surplus for the first half is down 34.6% to 42.3 ME, and the current operating profit fell by 64.6% to 17.7 ME, i.e. a current operating margin of 3.6% of sales, down 6.7 points. The financial result deteriorated by 9.4 ME due to the application of the IAS 29 standard mentioned above. Net income group share is 1.9 ME instead of 38 ME…
TF1 regrets the decision of the urgent applications judge of the Paris Commercial Court who did not see the urgency of preserving the interests of viewers who use the TNTSAT service so that they are not – as underlined by the President of the ARCOM recently – held hostage to a trade dispute that does not involve this service. So as not to leave households that only have TNTSAT to receive their DTT channels unresolved, the TF1 group has decided to bring the case before the Paris Court of Appeal; this one should be decided very soon…
Equasens : The Group’s Current Operating Income rose by 5.37% to €25.76 million as of June 30, 2022, notably impacted by the increase in non-recurring overheads, compared to the 1st half of 2021. For the 2022 financial year , the COI/CA ratio will follow the same trends as in past years. The Net Result stands at 20.95 ME (+18.92%) and the Net Result Group Share at 19.73 ME (+18.96%). As of June 30, 2022, Basic Earnings per Share amounted to €1.31 compared to €1.10 as of June 30, 2021 (+19.10%).
L’Oreal announces the acquisition of Skinbetter Science, an American skincare brand at the forefront of dermatological research, recommended by healthcare professionals for the effectiveness of its patented ingredients as well as the ultra sensoriality and richness of its textures.
Alten : Business growth was +18.4% in France and +38% internationally. At constant scope and exchange rates, growth was 19.8% (14.5% in France and 22.8% outside France). All business sectors are growing and have exceeded their pre-crisis level, including Civil Aeronautics and Automotive. Most geographic areas are showing strong organic growth, above 15%. Only Scandinavia and Switzerland (7% of turnover in total) have growth of less than 5%. The significant improvement in the activity rate, the strong growth of the international business, which is more profitable, and the rigorous management of structural costs enabled the operating margin to increase to 11.4% despite the evolution of salaries (9, 8% in June 2021). After taking into account the tax charge for 48.3 ME, the net income, Group share amounted to 139 ME.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
witbe, OSE Immuno, SFPI Group, Micropole, Property 7 Investment, ITLink, Cerinnov Group, Fermentalg, Robertet, Cambodia Company, Kumulus Vape, BOA-Concept, SQLI, Lumibird, Keyrus
THE LATEST “RECOS” FROM ANALYSTS…
Citigroup lowers its recommendation on Neoen from “buying” to “selling”.
MARKET INFORMATION
Atari : suspension of trading.
EssilorLuxottica : launch of a share buyback program.
Technicolor : launch of the in-kind distribution of Technicolor Creative Studios.
IN SHORT
Innate Pharma : Presentation of data from the phase 2 TELLOMAK trial.
Lhyfe inaugurates the world’s first offshore renewable hydrogen production pilot site.
quadient launches the Large Format parcel locker.
Oncodesign : OPM and Servier will collaborate in the treatment of pancreatic cancer.