European stock markets are expected to be on a hesitant note at the opening of the first session of the week. On Friday, American indices closed in disorganized order, now a few days before the presidential election. Before this major deadline, investors will closely scrutinize the results of very large capitalization technology companies, including Alphabet, Apple and Microsoft. On the statistical side, the American unemployment figures will be known on Friday. Furthermore, black gold prices are falling again after Israel’s response against Iran.
Values to follow today
Bic
Bic (+14.81% to 68.22 euros) recorded one of the strongest gains in the SBF 120 last week thanks to the increase in its margin outlook for 2024. The manufacturer of pens, razors and other promotional items aims now an adjusted operating margin closer to 15.5%. It previously forecast a slight improvement compared to 2023 when it stood at 14.7%. “We note that these updated forecasts may prove conservative, as they imply some contraction in operating margin in the fourth quarter,” UBS said.
Fnac-Darty
Following the takeover bid launched on September 2, the Fnac-Darty distribution group announced that it held 71.5% of the capital of Unieuro, according to a press release. In detail, 67.1% of Unieuro’s capital was contributed to the takeover bid, in addition to the 4.4% of shares already held by Fnac Darty. The offer will be reopened from November 4 to 8 to give “the opportunity for more shareholders to tender their shares under unchanged conditions”.
JCDecaux
JCDecaux, specialist in outdoor communications, announced on May 30, 2023 the signing of an agreement with Clear Channel Outdoor Holdings, Inc. for the purchase of its activities in Spain through the acquisition of the entire share capital of Clear Channel Spain, subject to authorization by the Spanish competition authority. After more than 14 months of investigation, JCDecaux regrets having to decide not to continue this operation.
LDC
LDC announced the signature of the proposed acquisition of 100% of the capital of the Pierre Martinet group, one of the leaders in the catering salad market, subject to the suspensive condition of authorization from the Competition Authority. This announcement follows on from the entry into exclusive negotiations communicated on May 28. With a 2023 turnover of nearly 230 million euros, the target group has more than 700 employees spread across 5 production sites in France.
Macroeconomic figures
In the United States, the Dallas Fed’s October manufacturing index will be published at 4:30 p.m.
Around 8:30 a.m., the euro gained 0.04% to 1.0800 dollars.
Friday in Paris
European indices ended virtually unchanged this session, after a new shower of corporate results. Those of Sanofi and Nexity were particularly appreciated by investors. The biopharmaceutical group recorded the strongest increase in the CAC 40 after the confirmation of its 2024 profit outlook. The real estate developer was among the strongest gains in the SBF 120 index thanks to an improvement in commercial dynamics in third trimester. The CAC 40 lost 0.08% to 7497 points and the Eurostoxx 50 gained 0.11% to 4941 points.
Friday on Wall Street
The American markets closed the last session of the week in disorganized order. Uncertainty prevails before the presidential election on November 5, with the results of very large capitalization technology companies, including Alphabet, Apple and Microsoft, expected before this deadline. On the statistical side, durable goods orders came out higher than expected and the Michigan consumer confidence index higher than consensus. The Dow Jones fell 0.61% to 42,114 points while the Nasdaq gained 0.56% to 18,518 points.
source: AOF
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