(Boursier.com) – THE TREND
Slightly exceeded in the middle of the day, the 5,500 points were not confirmed for the CAC40 which slowed the pace in the afternoon to finally settle for a rise of 0.56% at 5,480 points. This does not prevent the Paris Bourse from closing a good week with gains close to 3% and finally catch up with a bad start to August.
Wall Street has somewhat calmed the heat this afternoon, moving slightly lower while Donald Trump again ticking the Fed worried about the rise of the dollar against the euro. The Euro / Dollar parity is now under 1.10.
The CME Group's FedWatch tool gives 96% probability of a quarter-point rate drop on September 18, after the next meeting. The range on the fed funds rate would therefore be reduced to between 1.75 and 2%. The probability of a monetary status quo is extremely low, at around 4%, while Trump maintains daily pressure on the Fed.
* Cyclical stocks pulled up on the CAC40 since this morning and Saint Gobain stands out (+ 2.8% to 32.8 euros) ahead of Schneider (+ 2% to 76.2 euros).
* Pernod Ricard remains up 1.1% to 173.7 euros. Jefferies raised his target from 160 to 175 euros and renewed his "keep" opinion. Deutsche Bank maintains its opinion "keep on" by targeting 173 euros.
* PSA Group earns 1.8% and Renault 0.7%. "There is not, to my knowledge, new negotiations between Fiat and Renault," said Martin Vial this morning on Radio Classique this morning. The commissioner of participations of the State was questioned about the press information evoking a possible resumption of the negotiations. Rumors circulate about this, fueled lately by an article in the Italian newspaper Il Sole 24 Ore according to which contact between the two groups has never been broken.
* Stef jumped 8% to 83.2 euros, boosted by the publication of very good intermediate results. The group specializing in transport services and temperature-controlled logistics services generated operating income of € 67.4 million in the first half of 2019, up sharply by 40%. Net profit increased by 20% to 39.9 ME.
* Iliad grappille 0.25% to 95.2 euros. Bryan, Garnier & Co has lowered the target from 150 to 145 euros but remains on the purchase.
* Archos lost 5.7% to 0.159 euros after posting heavy losses every six months. Faced with this difficult situation, the company "is working to drastically reduce its fixed costs so that they are in phase with a business down sharply". At the same time, Archos is rapidly restructuring, concentrating its range around flagship and value-added products and refocusing on French territory. However, the search for financing remains necessary "so that the company can calmly approach its reorganization plan over the next twelve months and Archos intends to regularly inform its shareholders of the progress of its restructuring plan during the fourth quarter of 2019".
* Pharnext plunges 41% to 7.16 euros in a very large volume. The US health agency, the FDA (Food & Drug Administration) has recommended the company to conduct an additional Phase 3 clinical study for PXT3003 in Charcot-Marie-Toothde disease type 1A (CMT1A).
* No significant declines on the CAC40 except for a decline of 0.7% for Bouygues at 34.5 euros but the title wins 6% over the week after the good half-year results published yesterday.
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