the CAC40 could bounce slightly

Jean-Baptiste Andre,

published on 15/10/2019 at 08h30

(Boursier.com) – THE TREND

The Paris market could offer a slight rebound early in the session after experiencing some profit taking to start the week. This is in any case the trend that emerges 30 minutes from the opening while the Japanese market (closed yesterday) ended up sharply in reaction to the partial trade agreement between the United States and China Friday latest. A compromise that is difficult to convince operators, however, the vagueness surrounding this agreement remains important.

Another subject of questioning is Brexit. Discussions are still to take place all week to determine whether the departure of the British will be orderly, if it will be on the contrary in disorder, or if the divorce will be rejected again. The still tense situation in Syria is also closely monitored while the Trump administration has finally decided to punish Turkey …

In the Eurozone, operators will this morning follow the final figures of inflation in September in France and the ZEW index of investor sentiment in Germany.

On Wall Street, the micro should start to take over with the start of the quarterly season: Citigroup, Goldman Sachs, JPMorgan and Wells Fargo are on the bridge on Tuesday.

WALL STREET

US markets began the week on an indecisive note, after positively greeting Friday the announcement of a partial trade agreement between the United States and China. However, this agreement in principle must still be detailed, and China would still negotiate some points, according to the press … Oil prices are off sharply Monday, as the pound sterling, while markets US bonds were closed for Colombus Day. US indices finished the day down slightly by 0.1%. The index Dow Jones yielded 0.11% to 26,787 points, while the broad index S & P 500 fell by 0.14% to 2.966 pts, and the Nasdaq Composite, rich in technology and biotechnology stocks, dropped 0.10% to 8.048 pts.

ECO AND CURRENCIES

In France, the September Consumer Price Index will be unveiled at 08:45, as will net foreign exchange reserves and start-ups. In Europe, the Italian trade balance (10:00), the German ZEW index (11:00) and the British employment figures (10:30) will follow. In the United States, the only indicator of the day on the agenda, the Empire State's Manufacturing Index of the New York Fed (2.30 pm).

VALUES TO FOLLOW

* EDF. The government would have given the energy company a roadmap for the next 15 years, involving the construction of six new EPR-type nuclear reactors, according to information published Monday by 'Le Monde' on its website. September 12, that the newspaper said to have been able to consult, the Minister of the Ecological Transition and the Minister of the Economy, Elisabeth Borne and Bruno Le Maire, give a precise roadmap to the CEO, Jean-Bernard Levy, for "be able to respond to the execution of a program to build three reactor pairs at three separate sites". However, the Ministry of Ecological and Solidarity Transition assures the 'World' that "this letter of mission does not presage the decisions that could be taken after mid-2021" and ensures that mentioning the construction of six EPR reactors is only "a working hypothesis".

* Publicis will be monitored again this day. The title of the ad group is the subject of a new analyst note following its warning last week. In this case, it is this time that Berenberg degrades the value to 'keep', explaining that if the valuation is "theoretically attractive", current estimates are based on a positive organic growth from 2021 … Now, he There is not enough concrete evidence today to say that this course will be reached. The target is cut 42% to 42 euros.

* Crossject has signed a Cooperative Research and Development Agreement (Crada) with the US Department of Defense (DOD) in charge of chemical, biological, radiological and nuclear defense (JPM CBRN Medical). This cooperation agreement in research and development is related to the Midazolam auto-injector.

* Vivendi would have dropped a lawsuit he had initiated in Amsterdam against the project of Mediaset, of which he is a shareholder, to consolidate its Italian and Spanish activities in a holding company in the Netherlands, says Reuters, citing two sources close to the folder. A hearing was scheduled Wednesday in Amsterdam in this case.

* Wendel signed an agreement for the acquisition of Crisis Prevention Institute from FFL Partners for an enterprise value of $ 910 million. As part of this transaction, Wendel will invest up to approximately $ 590 million in equity alongside the management of CPI and will hold approximately 98% of the capital of the company. Crisis Prevention Institute, headquartered in Milwaukee, Wisconsin, is the US leader in training in behavior management and crisis prevention.

* Stentys unveiled half-year revenues of 5.06 million euros, up 39% from 30 June 2018 (3.4 ME), resulting from the consolidation of Minvasys' sales, as of 30 April 2018 However, this figure is down 8% compared to pro forma sales for the first half of 2018, ie 5.5 ME. Gross margin excluding income from licenses (other income) was 44% at June 30, 2019 (43% at June 30, 2018). The net result is a loss of -18.09 ME (-3 ME pro forma at June 30, 2018). The Extraordinary General Meeting of 21 October will decide, among other things, on the early dissolution of the company and its liquidation.

* DONTNOD. The video game development studio has unveiled significantly improved interim accounts characterized by a return of profitability indicators in the green. Consolidated net income amounted to E4.4 million in the first half of 2019, compared to a loss of E1 million in 2018. It includes, among other things, an exceptional charge of E4 million, mainly related to the CIJV provisions mechanism. including the extension of the development of Twin Mirror.

* ADP Group. In September, the Paris Airport traffic was up 0.4% compared to last year, with 9.4 million passengers, including 6.8 million at Paris-Charles de Gaulle (+4.8 %) and 2.6 million at Paris-Orly (-9.5%). The decline in traffic at Paris-Orly is related to the limitations of movement induced by the closure for work of the main runway of Orly and the effects of the bankruptcy of the company Aigle Azur which has ceased all activities from Friday September 6th in the evening.

* Societe Fonciere Lyonnaise. At September 30, the rental income of the company amounted to 149.1 million euros, an increase of 5.3 ME (+ 3.7%). On a like-for-like basis (excluding all changes in scope impacting the two periods compared), rents rose by 4.8 ME (+ 3.5%), due to new leases in 2018 and indexation. The physical occupancy rate of operating assets remains very high at 97.4% (97.3% at 31 December 2018), and the vacancy rate (EPRA Vacancy Rate) is 1.8% (1.6% at 31 December). December 2018).

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