inclinations
The recovery of the CAC40 index, which started at the end of the session yesterday, continued, and even accelerated at the close, as it jumped by 2.52% to 6,362 points. On the positive side, we have noted the announcement by the Shanghai authorities to start easing health restrictions in the coming days…
After the purge of the past few weeks, Wall Street also appears poised to show better behavior on Friday, presenting itself with a notable technical recovery. Bitcoin is also making a leap, back to $30,000.
Economy and Currencies
On the transatlantic economic front on Friday the 13th, the US import price index for April 2022 was flat compared to the previous month, versus +0.5% FactSet consensus. The Export Price Index rose 0.6% compared to March, which came close to expectations. Over the course of a year, import prices increased by 12% and export prices by 18%.
The preliminary indicator of US consumer sentiment measured by the University of Michigan for May 2022 came in at 59.1, far from the consensus at around 64, after the final reading of 65.2 in April.
Markets saw some kind of encouragement from Fed Chairman Jerome Powell, as he reiterated his support for a 50 basis point interest rate hike – still better than 75… Powell acknowledged that achieving a soft landing depends on factors beyond the Fed’s control and that re-inflation To 2% the target may cause some pain. However, he stressed that controlling inflation is the priority.
The euro fell to 1.04 / dollar. Oil refers to $111 for Brent.
rising values
Somfy is up 14%, recommended in the introductory session by Boursier.com this morning.
Rally and Casino is up 14% and 10%. The fever wave should be linked to information from our colleagues from “Echos” according to which the distributor had just spent a second selling GreenYellow, its subsidiary dedicated to renewable energies. “The casino expects about 1.5 billion euros for the rock block that it controls 76% together with Tikehau and bpifrance,” the journal specifies, i.e. “a valuation of about 15 times Ebitda’s forecast for 2022.” According to the newspaper’s sources, Engie and TotalEnergies are studying the file just like EDP, as well as Ardian funds, KKR, Blackstone, EQT or even Partners Group.
Overburdened by debt, Casino is engaged in an extensive asset disposal program. To fund her debt, GreenYellow and Cdiscount sales are mentioned regularly.
Antin: +12% with Waja (+10%)
Wavestone: +7.5% with Voltalia, Atari, McPhy with SMCP, Moncey
Neoen: +6.5% with FDJ, SII, and Ose
The third session of the sharp increase of STM (+6%). Yesterday, investors appreciated the medium-term roadmap that the chipmaker revealed. In particular, STMicro aims to generate more than $20 billion in annual revenue by 2027 at the latest, thanks to continued strong demand from the automotive, industrial and smartphone manufacturers.
Stedim: +5% with BioMerieux, Believe, Lumibird and Innate
Renault gains 5%. In order to accelerate its transition to electric vehicles, the group is considering setting up an electric vehicle and software entity in France. The scope of study includes electrical and software activities and technologies across the entire value chain: engineering (part of Technocentre, Renault Software Lab, Lardy and other sites under study in Ile-de-France) and industry (ElectriCity, Cléon) as well as support functions related to these activities. The entity dedicated to electric vehicles could have more than 10,000 employees by 2023. Meanwhile, the Renault group is also considering the opportunity to combine its activities with transmission technologies, thermal engines and hybrids located outside France within a specific entity.
Carmella: +5% with Claranova, Eutelsat and Aramis
GTT: +4.5% followed by Rexel and Trigano
Elior: +3.5% with Remy Cointreau, Stellantis, Sodexo, Icade, Hermès, Manitou, Accor, Ubisoft
Europe (+3%). The group, which operates shelters for dependent seniors, saw its net profit fall to 65.2 million euros in 2021, from 160 million euros the previous year, and announced it would not pay a dividend for the closed financial year. This net result includes 83 ME of provisions for risks and fees related to estimated risks for the years 2017 to 2021, after the management inspections that the Group has undergone in France, as well as 48 MEs of fees related to write-downs of asset values. But the company also reported signing an agreement with banking partners to repay 7.89 billion euros in debt as of December 31, up 1.23 billion euros from the previous year. acquisition strategy. This is how Orpea announced that it had signed an agreement with several banks for a secured syndicated loan of 1.733 billion euros, due to closed access to financial markets and a slowdown in the asset disposal program initially envisaged. In order to shrink its balance sheet, the group launched a program to dispose of assets in the amount of at least 3 billion euros by the end of 2025.
TotalEnergies acquires 3%. Berenberg went on to “buy” with a revised target of 57 to 58 euros.
Low values
Oeneo: -3% with Akwel
Verimatrix: -2.5% with Medincell
BigBen: -1.5% followed by Poxel, Cegedim, Séché, Burelle and Bastide