Why is it rising? Why is it decreasing? Some explanations on the unusual variations which affect shares during the day's session on European markets. Only when they are reliable and documented: we avoid telling nonsense as much as possible. Variations are taken at the time of writing the article.
Rising
Sage Group (+20%): The accounting software provider announced a GBP400 million share buyback program and reported a strong increase in annual profits and revenue. The company is optimistic for the year ahead.
Edenred (+4%): Jefferies recommends holding the stock but lowers its price target to €25.6 “We remain cautious based on earnings dynamics and the limited potential for margin expansion. However, given the recent discount, we believe that Edenred shares have integrated other negative news flows, including risks linked to possible regulatory changes in Italy and Brazil,” specifies the broker. Furthermore, Edenred increased its share buyback program by 39 million euros.
Nokia (+3%): The telecommunications equipment giant has won a multi-year, multi-billion dollar contract with Indian telecom operator Bharti Airtel for the deployment of 5G in India. Nokia will deploy equipment from its AirScale portfolio and also improve the existing 4G network.
Dormakaba (+2%): The group specializing in security and closure solutions confirmed its medium-term objectives during its investor day and announced additional savings thanks to the transformation of its commercial sector.
Declining
Elior (-22%): The collective catering specialist published results which exceeded expectations. However, the outlook for the new financial year is too cautious. The group is targeting organic growth of 3-5% versus 6% expected and an Ebitda margin above 3% versus 4% expected.
The French Games (-5%): Crédit Agricole Assurances sold 2.2% of the capital of the gambling operator at a discount of 7% compared to last night's price. Following this operation, CAA holds approximately 3.3% of the capital and 4.5% of the voting rights of FDJ, via its subsidiaries Predica and Crédit Agricole Assurances Retrait.
Molten Ventures (-4%): The venture capital firm reported a reduction in its net loss for the first half of its staggered fiscal year and saw growth in the value of its portfolio. The company expects the investment climate to improve, which should support better market valuations and increased activity. Molten Ventures says it is on the lookout for new acquisitions.
