(Boursier.com) — Another week of clear growth for the Parisian market which is no longer stopping. Aligned with records, just like the Dax or the Eurostoxx, the CAC40 rose 1.70% over five sessions, to 8,164 points this Friday evening. The national index, which has increased by more than 8% since January 1, ignored the slight sluggishness on Wall Street after inflationary indicators were more robust than expected in the United States a few days before the next policy decision. monetary policy of the Fed. If operators still anticipate a first rate cut in June, the probability of a status quo has risen to almost 44% according to the FedWatch tool.
On the value side, Euroapi collapsed again after suspending its 2024 guidance, Vallourec jumped with the arrival of ArcelorMittal in the capital and BNP Paribas increased its savings plan.
On the oil market, black gold prices are gaining ground again with a barrel of Brent (+4%) returning to $85, stimulated by the increase in oil demand forecasts for 2024 from the International Energy Agency. energy and by an unexpected drop in American crude stocks. Global crude demand is expected to increase by 1.3 million bpd in 2024, the IEA estimates in its latest monthly report, or 110,000 bpd more than previously forecast. The agency also forecasts a slight supply deficit this year – if OPEC+ members maintain their production cuts – after previously forecasting a surplus.
Finally, on the currency front, the euro fell back below $1.09 against the greenback while Bitcoin remains close to its highs despite a slight consolidation this Friday (around $67,800 on Coindesk).
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VALUES
* Vallourec logically jumped by 6.5%, sought after the announcement of the arrival ofArcelorMittal around the table. The steel giant has reached an agreement to purchase the stake of 28.4% of the voting rights and 27.5% of the capital held by Apollo in Vallourec (65,243,206 shares), at a price of 14.64 euros per share , for a total purchase amount of 955 million euros. This step marks the end of Vallourec’s financial restructuring initiated in 2021, when Apollo became the Group’s reference shareholder. If ArcelorMittal does not intend to launch a voluntary takeover bid for the remaining shares of Vallourec over the next six months, there is no doubt that speculation will now fuel the matter.
* Technip Energies advances 6.2%, in the wake of oil prices.
* Spie climbs by 5.8%, while the group will acquire 92% of ICG Group in Germany. Spie plans to complete the transaction in the second quarter of 2024, subject to customary conditions precedent, including approval from competition authorities. Based in Leonberg near Stuttgart, ICG Group is a leading turnkey service provider in telecommunications infrastructure – for fiber network and 5G mobile telecommunications.
* Plastic Omnium rose 5.6%. By crossing the symbolic threshold of 10 billion euros in turnover, the Group aims to accelerate and strengthen its global leadership through the development of a unique integrated offer, composed of exterior bodywork systems, lighting and modules. To meet this ambition, Plastic Omnium has evolved its organization, notably with the appointment of Christian Kopp as Deputy Managing Director.
* Atos rises by 4.9%. Devoteam is ready to take action if Airbus abandons Atos cybersecurity and supercomputers. In an interview with ‘BFM Business’, Stanislas de Bentzmann, the president and co-founder of Devoteam, indicated: “We are not going to enter the race, unless Airbus does not resume, that will reshuffle the cards.” A New York court has also decided to cancel around $202 million in damages owed by Syntel to TriZetto and Cognizant Technology Solutions, reports ‘Bloomberg’. In October 2020, a jury found Syntel liable for misappropriation of trade secrets and copyright infringement, and awarded Cognizant and TriZetto approximately $855 million in damages. An amount reduced to $570 million by the American courts in April 2021 following an appeal from Synel. The deal began in 2015 between Syntel and TriZetto and preceded Atos’ acquisition of Syntel in 2018.
* Rexel gains 4%. The firm has decided to submit to the General Meeting of Shareholders, which will be held on April 30, the distribution of a dividend of 1.20 euros per share, taken from the results. The detachment date is set for May 15. Furthermore, the Board of Directors unanimously decided, on the recommendation of the Appointments, Governance and CSR Committee, to propose to this AGM the appointment of Eric Labaye and Catherine Vandenborre as new independent members of the Board of Directors, for a period of 4 years. He also proposes the renewal of the directorship of Brigitte Cantaloube.
* BNP Paribas is granted 3.9%, investors welcoming the upward revision of its savings plan and the confirmation of a distribution rate of 60%, which should allow a return to shareholders of around 20 billion euros cumulatively over the three years 2024, 2025 and 2026. The banking giant has therefore announced an acceleration and expansion of operational efficiency measures of the order of 400 ME recurring, thus bringing the objective of the 2022 plan- 2025 at 2.7 billion euros. This year’s net profit will also be higher than last year’s distributable income, the lender said.
Conversely, * Euroapi drop of 20.6%. The manufacturer of active pharmaceutical ingredients (API) has suspended its 2024 outlook following the cessation of production of all APIs at the Brindisi site. “Following an internal audit, quality control failures attributable to potential shortcomings at the local level have been identified and are the subject of an in-depth investigation. Production will remain suspended until further notice,” it said. the company split from Sanofi. The Brindisi site produces 11 APIs and intermediates, mainly anti-infectives, including spiramycin, rifaximin, rifampin, and teicoplanin.
* Nexity lost 11.2%, still penalized by the announcement of disappointing results, a restructuring plan and the absence of a dividend for 2023.
* JCDecaux fell by 5.4%, while the absence of dividend continues to weigh on the file, the Decaux family having chosen to strengthen the balance sheet rather than shareholder remuneration. Forecasts considered a little “short” compared to expectations also explain the decline in value. Management anticipates organic growth of around 9% in the first quarter of 2024 compared to a consensus closer to 10%.
* HIS stumbles by 4.8%, victim of an analyst note. Berenberg has in fact downgraded the satellite operator to ‘hold’ given a difficult context despite a cheap valuation. The analyst says C-band revenues are now widely perceived, video is in continued decline, while repeated launch slip-ups make business planning difficult. The downward revisions to Ebitda over the past four years are “sobering”, with the broker also noting the costs linked to the change in management. The company will likely focus on reinvestments rather than shareholder returns. The objective is reduced from 7.2 to 6.8 euros.
* Worldline returns 2.3% and brings its losses since the start of the year to almost 35%. Analysts continue to adjust on the file after the electronic payment specialist’s announcements at the end of February. The latest, Kepler Cheuvreux, which lowered its target price from 15 to 11 euros while remaining ‘hold’. The payment specialist was also chosen by the Cassa Centrale group and entered into exclusive negotiations with a view to a long-term partnership in the world of acquisition. The collaboration focuses on the provision of services throughout the value chain of digital payment acceptance and international acquiring for the group’s 66 affiliated banks which have 1,480 branches in Italy.