Far from the rise of Wall Street, the Cac 40 is progressing timidly despite the hope of a vaccine, News markets

A vaccine is, for many, the condition sine qua non to a return to a normal life … and not just economic. This Monday, hope is reborn. Three days after his temporary suspension, the phase 3 trial of the vaccine candidate developed by AstraZeneca, with the University of Oxford, against SARS-CoV-2 was able to resume in the United Kingdom. In a statement, the British laboratory announces that the health regulatory authority for medicines, the Medicines Health Regulatory Authority, has confirmed that the vaccine candidate ” was sure “. The scientific and medical information justifying the resumption of the study were not disclosed …. On September 9, the trial was suspended due to the appearance of a “Potentially unexplained disease” at one of the participants.

Trump wants to lower drug prices

In London, the title AstraZeneca is down 0.5%, but the explanation is to be sought elsewhere. On the side of United States. President Donald Trump signed an executive order on Sunday, or fifty days before the presidential election, to extend to a new category of prescription drugs the scope of the so-called “most-favored-nation” clause, which allows the sale price to be aligned with the lowest price recorded in major industrialized countries. Besides AstraZeneca, GlaxoSmithKline, Sanofi and Bayer all three fall on the stock market. Conversely, it is a biotech which distinguish : Immunomedics. The American pharmaceutical company Gilead Sciences is ready to pay the price to afford its compatriot: it offers to pay 21 billion dollars (17.7 billion euros), or 88 dollars per share, which represents a 108% premium over Immunomedics’ closing price on Friday. Logically, the title flies this Monday (+ 100%) in New York. ” Acquisition represents an important step in Gilead’s goal of building a strong and diverse oncology portfolio “Said its managing director, Daniel O’Day, quoted in a press release.

Meeting with monetary policy

An operation that may hide another, the chipmaker Nvidia (+ 6%) is about to buy Arm Holdings, a subsidiary of Japan’s Softbank, for around $ 40 billion. If the operators do not fail to react to these announcements, they are also cautious at the start of a week which will be dominated by monetary policy, with the meetings of the Bank of England (BoE), of Japan (BoJ), the US Federal Reserve (Fed), the central bank of Brazil and those of Taiwan and Indonesia. The first three should opt, except for a sudden turn of events, for the the state. For the Fed, this is its last meeting before the November 3 presidential election. ” In this context, Mr. Powell [son président] should speak very cautiously after his announcements of Jackson Hole, estimates the Aurel BGC firm. Of course, he should be worried about the deadlock on the vote on a new plan to help the US economy at the level of Congress, but if the central bank is to adopt new measures, it should wait for the outcome of the elections. »

In such a context, and while the heavyweight Total flank, the Cac 40 ends up moderately 0.35%, to 5,051.88 points, in a transaction volume of only 2 billion euros. More enthusiastic, the Dow Jones takes 1.2%. The Nasdaq Composito, he wins outright 2%.

Dassault Aviation, star of the day

As tensions between Turkey and Greece in the Eastern Mediterranean remain alive, the Greek Prime Minister expressed, on Saturday, his will buy 18 Rafale fighter jets quickly. Morgan Stanley, who is “overweight” on the title, perceives this order as a good surprise whereas Athens had previously ordered American F-35s. On the stock market, the title soared 9.13%, taking the lead of the SRD by far. In its wake, it drew the other players in the aeronautics sector: Airbus gained 3.63%, Thales4.34% and, far behind, Safran a pris 0,31%.

A l’inverse, Total yielded 1.51%, penalized by the drop in crude prices below 40 dollars for the North Sea benchmark. In its monthly report, the Organization of the Exporting Countries of oil (Opep) is lowering its global demand estimate for 2020 and 2021 due to the Covid-19 pandemic. ” Increased use of telework and remote meetings expected to prevent transport fuels from fully returning to 2019 levels Adds the Organization.

Finally, Euronext dropped 2.46%. The stock operator has officially forwarded its offer to buy Borsa Italiana to its owner, the London Stock Exchange Group, but its proposal is said to be inferior to that of Swiss SIX, which also exceeds that of German Stock Exchange.


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