THE TREND
(Boursier.com) — The German Dax set a historic record yesterday. If its French counterpart is still far from it (8,259.19 points as of May 10), it is heading in its direction after now 8 consecutive sessions of increase! And a 9th is looming since the opening is announced higher this morning on the Parisian market and its main index should start above 7,900 points, a level not seen since June 11 during the session.
Yesterday, the “video” speech of the 47th American president at the World Economic Forum in Davos only confirmed the intentions of the new American president with a less firm stance than feared by Trump on customs tariffs. The latter also expressed his desire for OPEC to reduce oil prices and for world central banks to further relax their monetary policy. Investors have been concerned for several weeks about the prospect that potential expanded tariffs would fuel inflationary pressures and push the Federal Reserve to slow the pace of its monetary easing.
WALL STREET
Wall Street confirmed its good intentions on Thursday, further improving its records from the previous day. The Nasdaq rose 0.22% to 20,053 pts, while the S&P 500 rose 0.53% to 6,118 pts. The Dow Jones rose 0.92% to 44,565 pts.
ECO AND CURRENCIES
France :
– Preliminary French manufacturing PMI. (09:15)
– Preliminary French PMI services index. (09:15)
UNITED STATES :
– Preliminary US Composite PMI. (3:45 p.m.)
– Preliminary US manufacturing PMI. (3:45 p.m.)
– Preliminary US Services PMI. (3:45 p.m.)
– Resales of existing housing. (4:00 p.m.)
– Final U.S. Consumer Sentiment Index from the University of Michigan. (4:00 p.m.)
Europe :
– GfK UK Consumer Confidence Index. (08:00)
– Preliminary German Services PMI. (09:30)
– Preliminary German manufacturing PMI. (09:30)
– Preliminary Eurozone Composite PMI. (10:00 a.m.)
– Preliminary Eurozone manufacturing PMI. (10:00 a.m.)
– Preliminary Eurozone Services PMI. (10:00 a.m.)
– Preliminary UK manufacturing PMI CIPS index. (10:30 a.m.)
– Preliminary UK Services PMI CIPS Index. (10:30 a.m.)
– UK Preliminary Composite PMI CIPS Index. (10:30 a.m.)
The euro/dollar parity reached $1.0459 this morning. A barrel of Brent is trading at $78.27. An ounce of gold sells for $2,773.
VALUES TO FOLLOW
STEF announced a turnover of just over 4.8 billion euros for the year 2024, up 8.1% (+2.8% on a like-for-like basis). STEF specifies that the contribution of companies acquired in 2024 strongly drives the growth of international activities but that slowing food consumption in Europe impacts fourth quarter turnover. This trend, which affects the entire food market, was particularly evident during the end-of-year celebrations in France. Overall revenue for the fourth quarter of 2024 is still up 8.8% (+3.4% at constant scope).
GL Events reports growth of +15% in turnover in 2024 and +16% on an unchanged basis. The group raises its profitability forecasts and confirms its net debt guidance with an increase in its EBITDA and its group share of net income of 15% compared to an increase of at least 13% previously. We would have stability in net debt compared to the 2023 close.
Pierre & Vacances Center Parcs posted a 2.2% increase in its tourism activities in the 1st quarter of its 2024/2025 financial year, benefiting from both growth in accommodation turnover (+1.7%) and an increase in business from other tourist activities (+4.4%). The overall turnover reached 394.7 ME. Accommodation turnover amounted to 292 million euros, up +1.7% compared to the same quarter of the previous financial year. This growth is driven by an increase in the average sales price (+4.4%), the number of nights sold being down (-2.6%) in a context of drop in supply, particularly linked to the closure complete operation of the Domaine Center Parcs des Hauts de Bruyères in October and November 2024 (renovation work on central equipment).
SEB : over the whole of 2024, Seb achieved a turnover of €8,266 million, organic growth of +5% and +3.2% in published data. This performance includes a scope effect of 0.8% linked to the acquisitions of La San Marco, Pacojet, Forge Adour and Sofilac. In the 4th quarter, organic growth stood at +3.6%. The Consumer division maintained sustained momentum, while the Professional activity remained marked by a high basis of comparison. This solid publication, in line with expectations, confirms an operating margin close to 10% for the whole of 2024. The group thus validates the return to its growth standards, with 2024 ROPA expected to increase by around 10%. .
-Ok wind : the 2024 financial year was marked by an unfavorable market environment. Okwind Group’s 2024 turnover thus stands at €57.1 million, down 31% compared to the previous year… The dynamics of the Agricultural Operations vertical, the group’s largest market, has been penalized by the wait-and-see attitude of prospects, a consequence of the sectoral crisis, particularly adverse weather conditions and an uncertain economic and political context. The decline in turnover for the fourth quarter of 2024 forces the group to revise downwards its 2024 consolidated EBITDA target.
TURNOVER/RESULTS
UV Germi, GenSight, Enensys, Vinpai, Advicenne, Prismaflex, I2S, Altheora
THE LATEST “RECOS” FROM ANALYSTS…
Berenberg lowers its recommendation from ‘buy’ to ‘hold’ on Imerys
MARKET INFO
SES: repurchases super subordinated securities
Bio-UV: launch of a capital increase
Prodways considers a transfer of listing to Euronext Growth
Median Technologies: financing from the EIB and IRIS
IN BRIEF
URW: Westfield Hamburg-Überseequartier will open its doors on April 8
Ubisoft: Assassin’s Creed Shadows pre-orders are open
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