THE TREND
(Boursier.com) — After a weekend spent at half-mast and a big rebound of more than 2% yesterday, the CAC 40 immediately showed volatility at the start of the year… The prospect of Donald Trump’s arrival at the White House certainly agitates investors, which fuels the rumors and explains this renewed nervousness to start the 2025 financial year. This Tuesday, the trend is expected to be more uncertain, in decline of 0.5% in pre-session, after the denials of the American president-elect concerning yesterday’s rumor, that of a lower level of customs duties which would be applied to a few targeted products, aimed in particular at Asia… We will also be watching today for the inflation index in France for the month of December this morning which should confirm the return to calm on consumer prices.
WALL STREET
Wall Street rose again on Monday, with the S&P 500 gaining 0.55% to 5,975 pts, while the Nasdaq gained 1.24% to 19,864 pts. On the other hand, the increase did not hold up on the Dow Jones which ultimately lost 0.06% to 42,706 pts. Operators will follow numerous interventions this week from Fed officials, as well as a good series of statistics… In the meantime, the rise in the indices has been fueled by major technology stocks, avant a CES 2025 in Las Vegas placed under the sign of AI. Investors also welcomed the information from the Washington Post, which understands that the customs taxes of the new Trump administration could prove less virulent than feared. The president-elect therefore denied what he describes as “fake news”, judging that ‘WaPo’ cites “anonymous sources which do not exist, falsely asserting that my customs duty policy would be reduced”.
ECO AND CURRENCIES
Fed Governor Lisa Cook says U.S. central bankers can proceed more cautiously with additional rate cutsciting the strong job market and recent fluctuations in inflation data… Governor Adriana Kugler and San Francisco Fed President Mary Daly suggested Saturday that work on the fight against inflation was not over, while emphasizing that it would not be a question of weighing down the labor market with an overly restrictive policy either.
The main statistic of the week is for Friday in the United Stateswith the monthly government report on the employment situation for December (2:30 p.m., FactSet consensus 155,000 job creations including 140,000 in the private sector, for a 4.2% unemployment rate). The University of Michigan’s preliminary US consumer sentiment index for January will finally be revealed at 4 p.m. Friday (consensus 73.3).
TO WATCH
France :
– Preliminary French consumer price index. (08:45)
Europe :
– German construction PMI. (09:30)
– Unemployment rate in Italy. (10:00 a.m.)
– UK CIPS Construction Index. (10:30 a.m.)
– Flash consumer price index in the euro zone. (11:00 a.m.)
– Unemployment rate in the euro zone. (11:00 a.m.)
– Preliminary consumer price index in Italy. (11:00 a.m.)
UNITED STATES :
– American trade balance. (2:30 p.m.)
– American ISM of services. (4:00 p.m.)
– JOLTS report on job openings in the United States. (4:00 p.m.)
On the Nymex, a barrel of WTI crude advanced 0.3% to $74. An ounce of fine gold fell to $2,645. The dollar index lost 0.5% against a basket of reference currencies. Bitcoin rose 4.5% over 24 hours to around $102,000, as the inauguration of a presumed ‘pro-crypto’ Trump approaches…
VALUES TO FOLLOW
Sodexo : Consolidated turnover for the 1st quarter of the 2025 financial year reached 6.4 billion euros, up 1.9% compared to the previous financial year, including a negative currency effect of -2% and a contribution from acquisitions net of disposals of -0.8%. Internal growth stood at +4.6%. Given the expectations of modest growth in the first half of the financial year and an acceleration in the second half, supported by solid commercial momentum observed since the beginning of the financial year and the sequencing of the net contribution of new contracts, the outlook for the 2025 financial year is maintained:
— internal growth in turnover expected between +5.5% and +6.5%;
The underlying trend is expected to be between +6% and +7%, excluding the base effect of the Olympic Games, Rugby World Cup and leap year in FY 2024.
— an operating margin growing by +30 to +40 basis points, at constant rates.
Valeo and Amazon Web Services (AWS) are collaborating to support the acceleration of the software-defined vehicle (SDV) revolution in the automotive industry. The collaboration between Valeo and AWS enables faster and more efficient development, testing and validation of software in all areas of automotive, such as advanced driver assistance systems (ADAS), infotainment and autonomous mobility. It also contributes to the development of new features for the end user for a better driving experience. The first three solutions presented by Valeo at CES 2025 as part of this collaboration are the Valeo Virtualized Hardware Lab, the Valeo Cloud Hardware Lab and the Assist XR assistance system. These new solutions offered by Valeo and supported by AWS meet all the needs related to SDV transformation and are aimed at all players in the automotive development chain.
Hipay Group launches a capital increase by issuing new shares with maintenance of shareholders’ preferential subscription rights (DPS) for a maximum amount of €6,765,000 (issue premium included). This operation is carried out by issuing 1,353,000 new shares, at a unit price of 5 euros, i.e. 4 € par value and 1 € share premium. The parity is 3 new shares for 11 existing shares to be subscribed in cash and/or by compensation. Each shareholder will receive 1 preferential subscription right per share recorded in their securities account at the end of the accounting day of January 9. Subscription to the new shares will be open from January 10 to 24 inclusive on the Euronext Growth Paris market.
Interparfums announces the departure of Frédéric Garcia-Pelayo, International Affairs Director for the Montblanc, Coach, Lacoste and Van Cleef & Arpels brands. Joining the group in 1994, he was replaced in the same position by Daphné Benacin, currently Regional Export Director. Frédéric Garcia-Pelayo terminated his mandate as Deputy Chief Executive Officer with effect from December 30, 2024, and his mandate as director with effect from the evening of Thursday, April 17, 2025, at the end of the next Meeting general shareholders.
LDC announces a turnover for the third quarter 2024-2025 (from September to November 2024) which amounts to 1,583.2 ME, compared to 1,530.7 ME in the third quarter 2023-2024, up 3.4% (stable at -0.1% on an identical basis). The dynamic increase in volumes sold which carried activity over the first half of 2023-2024 (+4.9% compared to the comparable period) accelerated during the third quarter (+10.8% compared to the third quarter). 2023-2024). On a constant perimeter, the increase in volumes amounts to 4.8% over the third quarter. The good performance of poultry consumption made it possible to support the dynamic of improvement in volumes sold, despite persistent tensions on purchasing power. This new increase in volumes associated with the contribution of acquisitions made it possible to bring the cumulative turnover over 9 months to 4,567.9 ME (compared to 4,553 ME for the equivalent period) showing sales that were generally stable at +0.3%. at the end of November (-2.2% on an identical basis).
The turnover of Theraclion for the year 2024, excluding adjustment linked to the issuance of a credit on the Echopulse activity in the amount of €680 thousand, amounts to €1,485 thousand (€805 thousand after adjustment). This sustained activity compared to the first half of 2024 is linked to the sale of a Sonovein system in the Middle East and growth in recurring revenue turnover. Sales of consumables and services are up +9% compared to 2023, which reflects the increase in recurring revenue. The sale of a single system in 2024 explains the variation of -33% compared to 2023.
Throughout 2024, Frey carried out 224 million euros in asset sales, implementing its strategy of focusing on the largest outdoor shopping centers in its portfolio. Frey also continued to seize opportunities in Europe, particularly in the growing outlets market (acquisition of the Austrian manager ROS and a secure development project in Malmö, Sweden in July). After the various unit sales for €55 million carried out or secured in the first half, Frey signed at the end of December the sale of a portfolio of €169 million to Batipart Europe, as part of a long-term partnership. Frey will retain management of this portfolio of 4 retail parks located in Arles (Shopping Promenade Arles), Douai (Parc du Luc), Reims (Time Square) and Terville (Supergreen), as part of a joint venture owned 66.7% by Batipart Europe and 33.3% by Frey. Beyond the financial impacts (sale carried out at appraisal values, reduction in LTV, increase in investment capacity), this operation with a new long-term partner makes it possible to optimize the allocation of the group’s resources while strengthening its management activity on behalf of third parties. This joint venture will be consolidated using the equity method in the accounts of Frey…
Ribs announces the order of a production MBE system by Almae Technologies. The latter, a French company founded in 2016 as an industrial spin-off of III-V Lab (an industrial research laboratory shared by Nokia, Thales and CEA-Leti), placed this order to strengthen its production capacities for photonic components advances. These components make it possible to meet the telecoms and datacoms market’s demand for very high-speed optical data transmission, a demand strongly stimulated by artificial intelligence applications which require ever-increasing volumes of data. This new order is part of a lasting partnership, marked by a first delivery of a gas source MBE machine (Gaz Source MBE – GSMBE) by Riber to Almae Technologies in 2019. It confirms the relevance and reliability of the Riber MBE solutions for the manufacturing of ultra-high speed InP (indium phosphide) photonic chips, essential for next generation datacom infrastructures and, more generally, for all future connectivity solutions.
LightOna leading European player in generative AI for businesses and Europrop International GmbH (EPI), a consortium founded by the four main European engine manufacturers (MTU Aero Engines, Safran Aircraft Engines, Rolls-Royce and Industria de Turbo Propulsores), announces their partnership with a view to deploying the Paradigm generative AI platform across teams. Europrop International’s mission is to manufacture, develop and market the most powerful turboprop engine (TP400-D6) in the world, intended for the Airbus Defense and Space A400M military transport aircraft. Thanks to Paradigm, Europrop International teams will benefit from a powerful and secure tool allowing them to query a vast database, while guaranteeing the confidentiality of sensitive information.
