THE TREND
(Boursier.com) — The CAC 40 is expected to be in positive territory at 9 a.m. according to the available precedence indicators. But the trend remains fragile and the announced gain appears limited… The Parisian index should however keep its course above 7,000 points, a level which it has however sunk during the last two sessions and in particular yesterday, even touching a plus low at 6,963.02 points.
Tokyo has just finished sharply higher this Tuesday (+1.20%), in the wake of Wall Street. Comments from a US central bank official, Patrick Harker, supported the markets. The week will also be very lively on the American market, with a battery of statistics, numerous interventions by Fed officials, but also and perhaps above all extremely busy business news in terms of quarterly results publications…
WALL STREET
Wall Street accelerated on Monday, regaining some energy after a trying last weekend against a backdrop of tensions on the bond markets and concerns about the lasting level of high Fed rates in a tense geopolitical climate… The S&P 500 gained 1.06% to 4,373 pts, the Nasdaq gained 1.20% to 13,567 pts and the Dow Jones rose 0.93% to 33,984 pts.
ECO AND CURRENCIES
UNITED STATES :
– Retail sales. (2:30 p.m.)
– American industrial production. (3:15 p.m.)
– Business stocks and sales. (4:00 p.m.)
– NAHB U.S. Housing Market Index. (4:00 p.m.)
Europe:
– British employment figures. (08:00)
– German ZEW economic sentiment index. (11:05 a.m.)
– ZEW European Economic Sentiment Index. (11:05 a.m.)
The euro/dollar parity reached $1.0541 this morning. A barrel of Brent is trading at $89.73. An ounce of gold sells for $1,917.
VALUES TO FOLLOW
Catana Group shows very high growth again in 2023 (+38%) which takes it past the symbolic milestone of 200 ME in turnover. With these cumulative performances, CATANA GROUP demonstrates that it has perfectly taken advantage of the euphoric market of the post-COVID period to take a significant and valuable market share for the future.
Wendel announces the entry into exclusive negotiations with a view to acquiring a controlling stake in IK Partners from its associates who would also reinvest, as part of the planned transaction, part of the sale proceeds in IK’s future funds. As part of the initial transaction (which should be finalized in the first half of 2024), Wendel would invest €383 million, or approximately 12.5 times the estimated 2024 pre-tax FRE, to acquire 51% of the capital of IK Partners and the right to 20% of the carried interest generated on all future funds raised by IK Partners. The 383 million euros would be paid by Wendel in two stages: 255 million euros at the time of closing, 128 million euros 3 years after closing under certain conditions. The balance of IK Partners’ capital, i.e. 49%, would be acquired by Wendel as part of additional transactions, which would take place between 2029 and 2032.
Renault : In the 3rd quarter of 2023, global sales of the Renault brand reached 356,747 units, a significant increase of 11% compared to the 3rd quarter of 2022. Over the first 9 months of the year, Renault sold 1,128,885 vehicles, i.e. +11% compared to 2022. Renault is the second best-selling brand in Europe in 2023 with growth of 25% in the 3rd quarter and 22% since the start of the year (726,938 registrations). Renault outperforms in the C segment with an increase of 36% since the start of the year.
LATEST SALES/RESULTS PUBLICATIONS…
DontNod, Safe group, Rapid Nutrition, Prodways, OKwind
THE LATEST “RECOS” FROM ANALYSTS…
Goldman Sachs maintains remains ‘neutral’ on SG with a target which goes from 34 to 32 euros.
Barclays is ‘overweight’ on Stellantis with a target of 22.50 euros.
JP Morgan remains ‘overweight’ on Vivendi with a target adjusted to 13.40 euros.
Jefferies moves from ‘hold’ to ‘buy’ on Airbus with a goal that increases from 130 to 150 euros.
Morgan Stanley remains ‘overweight’ on Getlink with a target reduced to 18.60 euros.
Cowen remains at ‘outperform’ on Kering but adjusts its target from 670 to 550 euros.
MARKET INFO
Abivax: start of roadshows as part of its Nasdaq listing project
Erold requests legal recovery proceedings
IN SHORT
Amoeba: convincing results…