Friday, 14 Dec 2018

Mid-session Paris: the CAC40 finds the 5.400 points

Photo credit © Reuters


The CAC40 exceeds 5.400 points this weekend with a slight increase in the middle of the day (+ 0.3%) which succeeds to 6 previous sessions already in the green. Yesterday evening, US stock indexes slipped into negative territory under the effect of disappointing results of the Taiwanese semiconductor founder, TSMC, which provides many American groups in “chips”, including Apple (-2.8%) and Nvidia (-3.1%). In addition, the recent rise in oil and other commodity prices (aluminum, nickel, steel, etc.) has led to higher inflation expectations and a surge in interest rates. Oil prices now stabilize at $ 68 on the barrel WTI, after a high point reached recently for 3 years and a half, pending the meeting of OPEC and its allies planned this Friday Jeddah in Arabia Arabia.


* Fnac Darty earns nearly 5% to 93.8 euros. In the first quarter of 2018, the Group’s sales growth was limited to + 0.6%, in a sluggish consumer environment and unfavorable weather conditions. It reaches 1.686 billion euros. Group sales grew like-for-like across all geographic regions.

* In a calm list on the CAC40, Orange stands out with a rise of 2.3% to 14.84 euros. The title picks up nearly 5% over the week.

* Technicolor takes up 3.5% to 1.36 euros, still on the back of arbitrage of short positions.

* Soitec is not disturbed by the disappointing results of TSMC, the title even extends its strong rise the day before to 74.8 euros (+ 2.2%).


* Axway loses 4% to 19 euros. Group revenue was € 63.2 million in the first quarter of 2018, down -4.9% on an organic basis and -7.7% overall compared to the first quarter of 2017. Excluding the negative impact of currency effects (-4.8 ME), and in particular the significant decline of the US Dollar against the Euro, the decline in the group’s turnover would have been contained at -0.7%. The scope effect was 2.8 ME due to the consolidation of Syncplicity on 1 March 2017.

* The very good start of the year realized by Faurecia is not reflected in the evolution of the stock (- 1.9% to 67.4 euros). The group saw its turnover grow by 9.3% at constant exchange rates in the first quarter to 4.3715 billion euros, far better than the global car production. This year, Faurecia is aiming for constant currency sales growth of at least + 7%, at least 500 basis points above global automotive production growth, an operating margin above 7%, an inflow of net cash of more than 500 million euros, and net earnings per share of 5 euros. The Peugeot subsidiary also expects “strong double-digit growth in the second quarter”.

* Social conflict at Air France (-3% to 8.2 euros) could extend in May. After nine days of strikes, the Intersyndicale d’AF, composed of ten organizations (FO, SNPNC, CGT, Unsa, Spaf, SNPL, Alter, South, CFTC and SNGAF) called the employees not to let go of the pressure on the . As early as next week, she will communicate on new strike days in early May.

* The sharp decline in the CAC40 is to be found in the semiconductor sector: STM yields 1.7% to 17.53 euros.

© 2018

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