THE TREND
The CAC40 is once again expected to be close to its closing level yesterday, although slightly lower at the opening this morning, like the last sessions not very conducive to significant movements … The rest of today’s session will it be more lively? The publication of important indicators in the United States calls for! And the double appointment is set at 4 p.m. with the Michigan index and that of the Conference Board. Their content could well decide the end of the Parisian session, while in the middle of the week, the Fed’s speech was very cautious about the persistence and the extent of the economic rebound underway. In addition, this 3rd Friday in September, Wall Street will experience a “quadruple witching hour”, ie the expiration of 4 types of derivative products and therefore the promise of more substantial volumes on the equity markets …
WALL STREET
The New York Stock Exchange ended lower Thursday, the day after a Fed meeting, whose boss was cautious about the strength of the economic recovery underway, after the recessionary shock of the spring caused by the coronavirus pandemic. Tech stocks suffered pullbacks in a volatile session ahead of ‘Four Witches’ Day on Friday, when futures and options on indices and stocks will expire simultaneously.
At the close, however, all three indices reduced their losses from their session lows: the Dow Jones index fell 0.47% to 27,901 points, while the broad S&P 500 index fell 0. 84% to 3,357 pts and the Nasdaq Composite, rich in technology and “biotech” values, fell 1.27% to 10,910 pts.
ECO AND CURRENCIES
United States :
– Balance of current accounts. (2:30 p.m.)
– Conference Board Leading Indicators Index. (4:00 p.m.)
– Preliminary index of American consumer sentiment measured by the University of Michigan. (4:00 p.m.)
Europe :
– German producer price index. (08h00)
– UK retail sales. (08h00)
– European balance of current accounts. (10h00)
An ounce of the yellow metal is trading at $ 1,951. For its part, the euro / dollar parity reached $ 1.1851 this morning. A barrel of Brent is trading at $ 43.65.
VALUES TO FOLLOW
Axa announced Thursday its intention to appeal a judgment from the Paris commercial court ordering it to compensate five restaurant owners forced to close during the coronavirus epidemic.
Faurecia Fiat Chrysler Automobiles NV and Peugeot announce that at the request of the two companies and in the context of their recent communication of an amendment to their merger agreement, the shareholders EXOR, EFP / FFP, Bpifrance and DFG have accepted a clause d ‘non-transferability of their Faurecia shares, for a period of 6 months following completion of the plan to distribute Groupe PSA’s 46% stake in Faurecia to all Stellantis shareholders.
Rubis generated current operating income of EUR 170 million in the first half of 2020, down 24% at constant scope, over one year. Gross operating income fell by 15% to 240 ME (at constant scope). In total, the net income group share was down 11% to € 139m.
THEY PUBLISHED THEIR TURNOVER / RESULTS …
IntegraGen, came Exacompta Clairefontaire, Global Bioenergies, Genkyotex, Ose, independent, Umana, witb, CARBIO, Genoways, Onxeo
THE LATEST “RECOS” FROM ANALYSTS …
JP Morgan goes back from ‘neutral’ to ‘overweight’ on Alstom with an adjusted target price of 44 to 52 euros.
HSBC raises its target to 100 euros on Arkema.
Berenberg goes back to buying on Elior, targeting a price of 5.50 euros and remains buying on GTT with an adjusted target of 98 to 100 euros.
MARKET INFO
Wendel launches a capital increase reserved for employees.
Sensorion raises 30 ME per reserved emission.
Gaussin will modify the exercise price of the Warrants.
IN SHORT
Havas Group: acquisition of a majority stake in Camp + King.
Valneva: retirement of CFO David Lawrence.
Ipsen: first safety and efficacy data from the CLARINET FORTE study.
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