(Boursier.com) — THE TREND
The Paris Stock Exchange lost 0.24% to 7,542 points at the close this Thursday in a calm market awaiting the start of third quarter company publications next week and government tax announcements which will be detailed this evening . In the United States, the consumer price index for the month of September attracted attention. Thus, the index announced today showed an increase of 0.2% month-on-month and 2.4% year-on-year, compared to +0.1% and +2.3% respectively. of consensus. Excluding food and energy, volatile elements, the CPI also grew more than expected, up 0.3% compared to the previous month and 3.3% year-on-year, compared to +0.2% and +3 respectively. .2% place consensus.
As for Fed rates, the CME FedWatch tool shows a roughly 88% probability of a quarter-point cut on November 7, following the next monetary meeting, which would bring the Fed funds rate between 4.5 and 4.75%, compared to 4.75 to 5% currently.
A substantial majority of Fed officials argued in September for cutting rates by 50 basis points, according to the FOMC “Minutes” released last night. However, according to this report from the September 17-18 meeting, an even greater consensus emerged around the idea that this decision did not commit the Fed to a timetable for reducing borrowing costs… Supporters of a half-point rate cut in September “observed that such a recalibration of monetary policy would bring it more in line with recent indicators on inflation and the labor market.”
Some participants at the September meeting, however, advocated a cut of just 25 basis points, while “several others” indicated that they “could have supported” such a measure, the Minutes show. The September decision “should not, however, be interpreted as evidence of a less favorable economic outlook.” “It was important to communicate”, again according to these Minutes, the Fed officials having stressed that they saw their decision as a “recalibration” intended to take into account the sharp decline in inflation…
The euro ends this evening at 1.0920/$. Oil rises to $79 per Brent.
RISING VALUES
LNA Health rises by 4.6% with Waga (+3%), Genfit and Worldline
Equating : +3% with Scor
LDC : +2.5% with Groupe Crit, Viridien, Interparfums
Beneteau : +1.5% with Ekinops, Vantiva, Stedim, Engie and Veolia
Airbus (+0.4%) announced last night that it had delivered 50 aircraft in September, including 3 A350s, bringing the total number of deliveries to 497 units since the start of the year. Analysts now believe that the aircraft manufacturer’s delivery target for 2024 will be increasingly difficult to achieve… The latest data means that Airbus would have to deliver 273 aircraft in the fourth quarter to meet its overall target, an increase by 11% compared to the same quarter of last year. Airbus is targeting 770 deliveries for the full year after reducing its target of 800 planes in July, citing shortages of engines and other parts as the aerospace industry’s supply chain struggles to cope. recover from the pandemic. On the orders side, the gross backlog increased by 235 units last month, bringing the total since January 1 to 667 aircraft. Taking into account 19 cancellations, the net order book stands at 648 units.
FALLING VALUES
S30 : -6.5% with Lisi (-4.5%), Emeis
Casino : -3% suivi de Dassault Aviation, Tikehau, Clariane, OpMobility, OVH, SopraSteria
Teleperformance : -2.5% with Bonduelle, Remy Cointreau, VusionGroup, Valeo, Manitou
Nexans : -2.2% with Ose, Sword, SES
Forvia yields 2%. The Fitch Ratings rating agency has lowered the outlook associated with the ‘BB+’ long-term issuer default rating of the automotive supplier from ‘stable’ to ‘negative’. Fitch expects the net debt to Ebitda ratio to remain above 2 over the next 12 to 18 months despite asset sales intended to lighten its balance sheet.
Argan : -1.5% with Seb, Exail, FNAC Darty
Stellantis loses 0.2% on the 12 euros. Carlos Tavares is said to be considering a major management shake-up in response to the results warning issued at the end of last month. According to people familiar with the situation cited by ‘Bloomberg’, Stellantis’ chief executive could present his proposals at a board meeting in the United States this week. The cuts could affect various departments, from finance teams to regional directors as well as brand executives, agency sources said.
Capgemini lost 1.4% to 181.4 euros. Jefferies reduced its price target from 185 to 175 euros (‘keep’).