THE TREND
(Boursier.com) — After having aligned 8 sessions of increase and regained more than 3% in the space of a week despite the ambient political and geopolitical tumult, the CAC 40 logically regains a little ground, down from 0, 6% to 7,435 points this Tuesday noon.
While waiting for the name of the new Prime Minister which should not be long, the bond markets remain calm with a yield on the 10-year OAT stable at 2.87%. However, French rates should hardly benefit from the new reduction in European key rates which should be confirmed this Thursday by the ECB.
RISING VALUES
Stellar (+0.4% to 13.2 euros) and the Chinese group CATL have concluded an agreement to invest up to 4.1 billion euros in the creation of a joint venture for the construction, on a large scale, of a European lithium-iron-phosphate (LFP) battery factory at the Zaragoza site, in Spain. Designed to be completely carbon neutral, the battery factory will be implemented in several phases and investment plans. Scheduled to begin production by the end of 2026 at the Stellantis site in Zaragoza, Spain, the plant could reach a capacity of up to 50 GWh, depending on the evolution of the electricity market in Europe and support continued by the Spanish authorities and the European Union.
The Credit Agricole (+0.3% to 13.16 euros) could further increase the capital of Banco BPM. The French bank, which announced Friday evening that it had increased its stake from 9.9% to 15.1% in the transalpine establishment via derivative instruments, could increase its stake over the next six months, again through derivative instruments. Crédit Agricole will, however, have to wait to obtain approval from the supervisory authorities, according to a document filed by the French group with Consob.
Medincell (+5% to 17.6 euros) announced new positive phase 3 results for its mdc-CWM pain treatment applied after the installation of a knee prosthesis. Medincell partner AIC is expected to meet with the US FDA in the first quarter of 2025 to agree on next regulatory steps.
FALLING VALUES
Europe plunged 17% to 3.68 euros after the announcement of surprise changes at the head of the company. The group specializing in the development and manufacturing of active pharmaceutical ingredients on behalf of health manufacturers announced yesterday evening the resignation of Viviane Monges from her functions as director and Chairman of the Board, as well as Ludwig de Mot of his functions as Director General. The latter had only been in office since March 1.
The luxury sector is experiencing some profit taking after its recent rise: Dry et LVMH Reperdent environ 2%.
TotalEnergies lost 0.6% to 54.6 euros. Goldman Sachs reduced its target from 66 to 61 euros (‘neutral’).
L’Oreal fell 0.7% to 347 euros. Bernstein reduced its price target from 490 to 430 euros (‘outperform’).
