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Monday 16 January
CAC 40: +0.28% to 7,043.31 points / €2.4bn traded
The fact of the day
The Paris Stock Exchange closes this first day of the week with a slight increase in small volumes. That’s not much, but CAC 40 had to make way today as Wall Street remained closed for Martin Luther King Day. Today’s news is the opening of the World Economic Forum in Davos, which brings together the political and economic elites for part of the week.
Value(s) in sight
CGG exceeds the SBF 120, and it could be thanks to Societe Generale raising its recommendation from “hold” to “buy” and a slightly increased price target from 0.91 to 0.92 euros.
Tuesday 17 January
CAC 40: +0.48% to 7,077.16 points / €3.6bn traded
The fact of the day
Jagged path for the CAC 40 which, after exceeding 7100 points, closes at +0.48%. Investors earlier in the morning learned of grim statistics coming out of China with growth falling to 3% in 2022, one of the weakest levels in nearly 50 years amid health restrictions and a global property market crisis. In the US, the Dow Jones fell 1.14%, while the Nasdaq lost 0.14%. Note the marked decline of Goldman Sachs (-6.44% to 349.92 dollars), which in the fourth quarter published a profit well below expectations. The bank also tripled bad debt provisions compared to the same period of the previous year.
Value in sight
History! LVMH surpassed the 400 billion euro capitalization bar after setting a new record at 803.30 euro in the session. The title that takes over 17% already in 2023.
Wednesday 18 January
CAC 40: +0.09% to 7,083.39 points / €3.5bn traded
The fact of the day
Another session in green, but only slightly… there too the CAC 40 exceeded 7,100 points in the session: it is however the 6th consecutive session. Since the beginning of the year, Europe has done better than the United States and this session proves it once again with the sharp drop in the Dow Jones (-1.81%) and the Nasdaq (-1.24%). This is particularly related to the bad statistics: industrial production fell a little more than expected between November and December in the United States (-0.7% against -0.1% expected by economists), as well as retail sales detail.
Value in sight
Fnac Darty withdrew after announcing it was “unlikely” its 2021-2023 operating free cash flow target would be met during this period. In publishing its earnings estimates for 2022, the distributor said it expects operating free cash flow of approximately -30 million euros.
Thursday 19 January
CAC 40: -1.86%, to 6,951.87 points /
The fact of the day
This session on Thursday saw the CAC 40’s progression come to an abrupt halt as the French index had marked an 11-day rise over the first 13 sessions of the year. The cold wave came in particular from Davos as, through the voice of ECB President Christine Lagarde and that of several Fed members, central banks reminded investors of their determination to fight against inflation. Less marked decline but still decline in the United States, more or less, for the same reasons.
Value in sight
Virbac has put investors in a good mood after posting revenues of €1.22 billion in 2022, up 9.6% at constant exchange rates and perimeter compared to 2021. The animal health care group exceeded its target sales growth between 6 and 9% on a like-for-like basis and exchange rates, narrow range last October. As a result, Virbac is raising its 2022 goals by now anticipating an adjusted recurring operating profit-to-sales ratio of approximately 15% at constant exchange rates, versus a previous forecast of 14% versus 15%.
Friday 20 January
CAC 40: (update coming soon)
The fact of the day
The Paris Stock Exchange is looking to resume its forward march on Friday despite the economic and monetary concerns that stalled it the day before, as investors are being guided by the prospects for improvement in China.
Value in sight
Orpea appears to be maintaining a positive territory after checking the discussions engaged in the restructuring of this company between a consortium of investors led by the CDC and a group of financial créanciers holding 50% of the non-secured environment the society.
LG (redaction@boursorama.fr)