the expected CAC40 is clearly in the red

TREND

CAC40 could very well lose gains accumulated over the past two sessions at this morning’s open… A bearish environment in which markets have registered for several sessions, in addition to bracketing the last two, seems to be taking over. .

Investors are beginning to understand the contours of the ECB’s new monetary policy: after statements by several members in favor of an initial hike in key rates in July to fight inflation, the institution’s president, Christine Lagarde, for the first time found this hypothesis plausible, which she had long ruled out. Thus, the European Central Bank may start raising its interest rates from July, Ms. Lagarde said in a speech delivered in Ljubljana Wednesday in honor of the Slovenian central bank’s 30-year existence. The ECB will “first stop” net asset purchases “at the beginning of the third quarter”, i.e. in July, then “after some time” there will be the first rate hike.

On the American side, as the Federal Reserve began a cycle of monetary tightening to curb soaring inflation, several former US central bank officials stepped up in recent days to urge their former colleagues to be much more aggressive in terms of raising key rates to contain price increases.

WALL STREET

After an initial positive reaction to April US inflation data, US stocks faltered to close in bright red. Rising prices across the Atlantic slowed only marginally in April, to 8.3% yoy, which should encourage the Fed to keep raising its key rates quickly to curb this price increase. WTI oil prices jumped 6% back above $100.

At the close, the Dow Jones shed 1.02% to hit 31,834, while the broad S&P 500 shed 1.65% to hit 3,935, falling below the psychological threshold of 4,000, the lowest level since late March 2021. Nasdaq Composite Wealthy tech and biotech stocks fell 3.18% to 11,364 after falling 4.3% on Monday and rebounding 1% on Tuesday. The Nasdaq is down 29% from its November 2021 record of 16,057 points.

ECO AND CURRENCIES

UNITED STATES :
– Weekly registration of unemployment. (14:30)
– US Producer Price Index. (14:30)

Europe:
– UK GDP. (08:00)
– British industrial production. (08:00)
– British trade balance. (08:00)

This morning the euro/dollar parity reached $1.0507. A barrel of Brent is trading at $105.53. An ounce of gold is trading at $1,849.

VALUES TO FOLLOW

Veolia: Reports quarterly revenue of €9.94 billion, up 44.3% at constant exchange rate compared to the first quarter of 2021, thanks to economies of scale of €1.88 billion, mainly due to business integration Suez and organic growth of 1.14 MdE (+16.7%). . EBITDA increased by 33.4% compared to March 31, 2021, published at constant exchange rates, due to economies of scale of €276 million, mainly due to the integration of Suez’s activities and organic growth of 7.8%. Consolidated Current EBIT of the Group as at 31 March 2022 was €692 million, up 18% on a constant volume and exchange rate basis compared to the aggregate as at 31 March 2021.

Chargers publishes this Thursday turnover rose 12.6% to 203.5 ME in the first quarter. “Group leadership and pricing power matter as traditional businesses ramp up their rebound,” management commented. Thus, organic growth was 36.2% excluding CHS.

Bone Therapeutics, a biotech company specializing in the development of cellular therapies to address unmet medical needs in orthopedics and other conditions, today announces that it has agreed to a non-binding list of terms and conditions and to engage in exclusive negotiations for three months with the shareholders of Medsenic, a privately held biopharmaceutical company. a clinical stage established in France specializing in the development of optimized formulations of arsenic salts and their application in inflammatory diseases and other new potential clues. The purpose of the discussion is to explore the merits of a potential reverse merger or similar transaction whereby all shareholders of Medsenic will individually contribute fifty-one percent (51%) of the total outstanding shares of Medsenic to the capital of Bone Therapeutics in exchange for a number of shares issued by Bone Therapeutics. (“Business Combination”). Following the business combination, Bone Therapeutics will remain a Belgian registered company and will own fifty-one percent (51%) of Medsenic’s share capital.

Jacquet Metals has benefited from an environment characterized by well-targeted demand and rising commodity prices. Compared to Q1 2021, sales volumes are +8.9% higher, and average selling prices are +53.7% (+14.5% compared to Q4 2021). Thus, turnover increased by +62.6% to 724 million euros. Gross profit increased by +71% to €200m, representing 28% of revenue (€116m as at 31 March 2021 and 26.1% of revenue). Operating EBITDA as at 31 March was €102 million, representing 14% of revenue (7.8% as at 31 March 2021). The current operating profit is 90 ME for 12.4% of turnover (28 ME as of March 31, 2021 and 6.2% of turnover). Net profit, the Group’s share was 63 IU (16 IU a year earlier).

Ahead of this Thursday’s Capital Markets Day, STMicroelectronics is presenting its plans for the 2025-2027 period. Over that horizon, the semiconductor maker expects a turnover of at least $20 billion versus $14.8-15.3 billion projected for this year. These revenue-generating ambitions are expected to be driven by the company’s core business based on STM’s leading position in technology and in its markets, which is expected to grow with its established market; and high-growth areas within or adjacent to STM’s core business where the Company maintains or seeks market leadership and invests in technology, talent, product development and manufacturing.

Ubisoft: Q4 2021-2022 Revenue amounted to 708 million euros, up +41.1% (38% at constant exchange rates) compared to 501.8 million euros achieved in the 4th quarter of 2020-2021. Revenue under IFRS 15 for the financial year 2021-2022 was €2,125.2 million, down -4.4% (-4.8% at constant exchange rates) compared to €2,223.8 million in 2020-2021 years. Non-IFRS operating income was 407.6 million IU (473.3 million IU in 2020-2021). Net income excluding IFRS, the Group’s share amounted to 269 million euros, i.e. Non-IFRS (diluted) earnings per share were €2.11. For the 2020-2021 financial year, they amounted to 313.5 ME and 2.48 euros. Net income under IFRS, the Group’s share was 79.1 million euros, or IFRS earnings (diluted) per share of 0.65 euros. In the 2020-2021 financial year, they amounted to 103.1 million euros and 0.85 euros, respectively.

Beneteau’s revenue in the 1st quarter of 2022 was 317 million euros, up 10.6% compared to the reported data (+8.9% at constant exchange rates). Beneteau emphasizes that 2022 is marked by the quality of orders and the commercial success of its products, but with supply tensions hindering growth. % in published data with current operating profit between 110 and 120 ME).

Bouygues: turnover reached 8.2 billion euros, up 6%. At a constant volume and exchange rates, it increased by 3%. Current operating income was stable compared to the first quarter of 2021 at -77 million euros. Thus, the current operating margin was -0.9% in the first quarter of 2022 (-1% in the first quarter of 2021). Operating profit was -93 million euros. It includes a long-term result of -16 million euros that does not reflect activities. This long-term result mainly includes capital gains from the sale of data centers to Bouygues Telecom (+€5m) as well as expenses related to ongoing projects (acquisition of Equans and merger of TF1 and M6) at Bouygues Construction (-€5m). euros), in TF1 (-3 million euros) and in Bouygues SA (-13 million euros). As a reminder, the one-time income was +56 million euros in the first quarter of 2021, mainly due to capital gains from the sale of Bouygues Telecom data centers. Net profit, the Group’s share was -131 million euros. It does not include any contributions from Alstom. It should be noted that in the first quarter of 2021, the share of the group’s net profit increased due to Alstom’s contribution of 120 million euros.

THEY PUBLISHED THEIR TURNOVER/RESULTS…

CNP Assurances, Genfit, Colas, Altamir, Tivoly, Airwell, Neurones

LATEST REKO FROM ANALYST…

JP Morgan remains “neutral” on SAP.

MARKET INFORMATION

Visiomed confirms the completion of the bond conversion.

SHORTER

HDF and Captrain France will develop hydrogen locomotives.

Theraclion: First treatments with Sonovein in the United States.

Balyo will continue to collaborate with the KION group.

GeNeuro: Temelimab will be evaluated for severe post-COVID neuropsychiatric syndromes.

Saint-Gobain: formalizes exit from specialty distribution in the United Kingdom.