THE TREND
(Boursier.com) — After an erratic session, the CAC 40 finally ended yesterday evening with an anecdotal increase (+0.02%) and below 7,000 points for the 3rd consecutive session. This morning, it is expected above this symbolic level at 9 a.m. A positive start to the session therefore as the justice of the peace is located at 2:30 p.m. with the American unemployment figure particularly awaited. The figure will close a series of indicators published this week which highlighted the persistent tensions in the American labor market. In the event of a surprise, a violent market reaction is to be expected, volatility has already been very high in recent days…
WALL STREET
Wall Street ended slightly lower on Thursday evening, awaiting the employment figures for the month of September which will be published early Friday afternoon. After having sanctioned on Tuesday the excellent JOLTS report on job openings for the month of August in the United States, then welcoming on Wednesday the poor private employment figures for the month of September, the American market took note of registrations on Thursday unemployment particularly resistant for the week ending September 30… Operators sold this latest news, following the reasoning according to which an overly solid labor market limits the impact of the Fed’s work to reduce inflation, thereby see rates remain high for longer than expected… Thus, the S&P 500 fell by 0.13% to 4,258 pts, the Dow Jones lost 0.03% to 33,119 pts and the Nasdaq lost 0.12% to 13,219 pts.
ECO AND CURRENCIES
France :
– Trade balance in France. (08:45)
UNITED STATES :
– Monthly government report on the employment situation. (2:30 p.m.)
– Consumer credit. (9:00 p.m.)
Europe:
– German manufacturing orders. (08:00)
The euro/dollar parity reached $1.0539 this morning. A barrel of Brent is trading at $84.12. An ounce of gold sells for $1,821.
VALUES TO FOLLOW
Voltalia sees its fleet of operating power plants exceed 2 gigawatts of installed power, thanks to the commissioning of the Sud Vannier wind farm (23.6 megawatts) in France.
LDC : over the period from March 2023 to the end of August 2023, the group’s sales amounted to €3,022.3 million compared to €2,735.5 million in the first half of 2022-2023, an increase of 10.5% and +8.2% to identical scope and constant exchange rate. Over the entire half-year, the volumes sold fell by 1.9% despite a more favorable trend observed in the 2nd quarter with the gradual return of production after the episodes of avian influenza… The favorable evolution of business conditions in poultry and good overall commercial performance allow LDC to be fully confident in its ability to exceed its current operating profitability objective initially set at around 5% of turnover.
Delfingen signed a new credit agreement for an amount of 213 million euros. This new syndicated loan is granted by the banking pool composed of CIC, BECM, Crédit Agricole, Banque Populaire, Société Générale, Caisse d’Epargne and Crédit Lyonnais, which renews their confidence in Delfingen and provides the group with enhanced financial resources to support its growth.
LATEST SALES/RESULTS PUBLICATIONS…
NFL Biosciences, HRS, Amoéba, Groupe Parot, Ecomiam, Vinpai, Enensys, Winfarm, Lepermislibre
THE LATEST “RECOS” FROM ANALYSTS…
HSBC remains a buy on Alstombut adjusts its price target from 35 to 23 euros, keeps Vicat with a target raised from 27 to 32 euros and is for purchase on Holcim but adjusts the slider from 70 to 68 CHF.
Goldman Sachs remains Buy on Believe with a price target reduced from 13.80 to 12.80 euros and is ‘neutral’ on TotalEnergies with an adjusted objective of 66 to 69 euros.
Oddo BHF remains at ‘outperformance’ on Coface with a target raised from 14.50 to 15 euros, to ‘outperform’ also on Score with an objective raised from 30 to 36 euros and ‘outperformance’ still on Axa with a target raised from 34 to 37 euros.
BNP Paribas Exane remains at ‘outperformance’ on Amundi with a target reduced from 75 to 74 euros.
Stifel is still for purchase on Keringbut reduces its target price from 625 to 560 euros.
Deutsche Bank retains Rémy Cointreau with a target reduced from 154 to 125 euros.
Barclays moves from ‘underweight’ to ‘market weight’ on Renault with an adjusted objective of 33 to 37.50 euros.
MARKET INFO
Abionyx: Extension of financial visibility until Q1 2025 without new ORA drawdown
Archos: the consolidation operation is launched
Oncodesign: bank financing agreement of 6 ME
Crédit Agricole launches a share buyback program
IN SHORT
2CRSi: will modify the closing date of its financial years
Kumulus Vape enters into distribution agreement with Levest
Osmosun accelerates in Morocco