A difficult weekend for the Paris Stock Exchange, which plunged again after plunging 1.4% already yesterday in response to the ECB’s financial conference. CAC 40 lost about 6,260 points by 1.5% at the end of the morning. This is a deficit and 4 consecutive sessions.
Therefore, the ECB ended its policy of buying bonds in the market on July 1st, raising interest rates by a quarter point in July and stipulating that it will not rule out a significant rise in September unless inflation slows. increase. The day after the ECB’s decision, BdF Governor François Bill Roydegarhow declared that “a gradual rise in interest rates would be a neutral rate, estimated at 1-2%, and perhaps even higher.” Did. Investors are particularly concerned that the ECB will be forced to accelerate rate hikes as inflation continues to accelerate.
Other major conferences of the week for the market will be held later with the release of monthly consumer price figures in the United States. The White House announced the colors yesterday. This indicates that inflation is probably still high, especially due to energy prices. However, some investors and economists expect inflation to reach its peak. May’s FactSet consensus is a 8.2% price increase in May in the US, excluding seasonally adjusted and year-over-year (+ 0.7% compared to previous month in adjusted data). Excluding food and energy, the CPI is expected to rise 0.5% compared to April and 5.9% over the year. Statistics will be published at 2:30 pm.
Value to rise
* After DBV Technologies announced a private placement (PIPE) funding totaling US $ 194 million (equivalent to 181 ME) through the sale of 32,855.669 common stock and the sale of 32,855 .669 common stock. It rose another 23% to 5.18 euros. 28,276,331 pre-funded warrants. In the last five sessions, the title progress is close to 80%. Common stock is subscribed by investors at a pre-funded price of € 3 (equivalent to US $ 3.22) per common stock, and pre-funded warrants are subscribed at a pre-funded price of € 2.90 (equivalent to $ 3.11) per share. To do. Pre-funded warrant. Equivalent to the price per share of common stock minus the exercise price of € 0.10 per pre-funded warrant. Total revenue from PIPE funding before deducting costs associated with private placements totals approximately $ 194 million. Settlement delivery of PIPE loans must be made on June 13, 2022, in accordance with normal conditions.
* Ipsos rose 3.3% to € 47.7, and the Group announced that it will appoint Dan Lévy as Group Chief Financial Officer from Friday, June 10. After being trained as an economist and statistician, Dan Lévy spent the first part of his career from 2001 to 2010 in economic, financial, and administrative functions at the Treasury, Treasury, and Budget Department. He joined Societe Generale in 2010 and has held various positions to this day.
* There is no significant increase between CAC 40 values.
* Bank stocks have been hit and rising bond rates are now overshadowed by falling markets. Crédit Agricole decreased by 4% and Societe Generale and BNP Paribas decreased by 3%.
* Saint-Gobain will return more than 3% to € 53.55 this Friday, while Berenberg advises to “maintain” the glass group with an adjusted goal of € 62-60.
* Friday’s Legrand will return to 77 euros, down 0.6%, but Citigroup has lowered its title target from the previous 97 euros to 85 euros. As for Schneider, brokers are currently targeting 139 euros compared to 154 euros given the development of international affairs. Jeffreys adjusted his goal at Legrand from € 104 to € 92 while still purchasing the file.
* Rubis yields range from 1.3% to 28.1 euros. Dividends of € 1.86 per common stock and € 0.93 per preferred stock will be paid on June 14th with the separation of the coupon and June 16th. Management reminded the General Assembly of a vision for the development of the group over the medium to long term. Bruno Krief, Chief Financial Officer, announced that the first quarter of 2022 started well with a gross profit of 7% in distribution and 19% in transactions / shipments (support and services subsegments). “The start of the second quarter is in line with the increase observed in the first quarter, which is a good indication of a significant increase in performance (with a certain structure) throughout the first half,” the manager added. rice field.