Closing in Paris: A cautious start of the week


The start of Monday’s week on the Paris Stock Exchange is uncertain, with CAC 40 falling from 0.23% to 6,347 points after Friday’s rebound.
Some (very) weaker economic indicators in China were released earlier this morning. April retail sales were down 11.1% compared to the same month last year, almost double expectations. Some of its industrial production has fallen by 2.9%, the largest decline since February 2020 … these figures are the extent of health restrictions imposed by Chinese authorities to stave off the recovery of COVID-19 outbreaks. Clearly explained by. domestic. In Shanghai, a complete lift is planned by June 1st, a measure that has just begun to be relaxed. An indicator that casts doubt on the ability of the world’s second-largest economy to reach its goal of growing about 5.5% of annual GDP …
As for currencies, the euro remained at a low level of 1.04 / $. Brent’s oil remains strong at $ 112.

Value to rise

Adoshia: + 6% (+ 5.5%) at Orapi and Vallourec

The casino continues to perform well on Monday (+ 4.7%), but distributors have confirmed that by the end of the year they have begun the process of selling Green Yellow with a view to potential operations. “To date, the casino has not received any binding offers and no final decision has been made on this project,” said the owner of Monoprix and Géant. According to Friday’s Les Echos, the group “expects about € 1.5 billion for a nugget that manages 76% alongside Tikehau and bpifrance,” which means “about 15 times the rating of Ebitda expected in 2022.” “is. According to newspaper sources, Engie and TotalEnergies are investigating files in the same way as EDP, as well as funding from Ardian, KKR, Blackstone, EQT, and even Partners Group.
Distributor parent company Rallye took this opportunity to win 13%.

Maurel & Prom: + 4% for Parrots, SES Imago Tags, Lectra, Thermador

Eramet: + 2.5% on Elior, Rubis, Wavestone

Coface: + 2%, followed by Gecina, JC Decaux, K & B, GTT, Mercialys

TotalEnergies will increase by 1.5% on Carmila, Thales, Pernod Ricard, Bouygues and Innate.

Ubisoft increased 1.2% in three consecutive sessions. The title of video game publisher benefits from SocGen’s support for making recommendations on “buying” files, targeting € 55.3. According to Bloomberg’s consensus, the stock market is fairly divided in terms of value, with 16 analysts advising to “buy,” 7 to “hold,” and 3 to “sell.” The average 12-month target is set at 57.42 euros.

Drop value

Valneva collapses 19%. The vaccine manufacturer has received a notice from the European Commission that it intends to terminate the contract to supply vaccines for Covid-19. The agreement does give Brussels the right to terminate it if VLA2001 has not received marketing approval from the European Medicines Agency (EMA) by April 30 at the latest … According to the terms of the agreement, Valneva From May 13th to 30th, we will either obtain marketing approval in 2022 or propose plans to improve the situation in an acceptable way. Therefore, the company will work with the European Commission and the Member States participating in the Agreement to agree on such a plan and make VLA2001 available to Member States wishing to obtain the vaccine. To be on the safe side, Brussels has agreed to purchase up to 60 million doses of vaccine from Nantes’ company between 2022 and 2023. If the Commission finally terminates the contract at the end of the current process, Varneva does not need to return the prepayment. Because Valneva has spent or committed the full amount of such prepaid, in this case the contract does not require a refund of such payment. Following discussions with the Commission and relevant Member States, Biotechnology will review its financial forecasts for fiscal year 2022.

Orpea relapses 9% after being published annually. After this presentation, many analysts returned to the case. To “maintain” the file, SocGen reduced the target from 45 euros to 36.5 euros (“maintenance”), for example, and Kepler Cheuvreux repeated the “buy” opinion and the 70 euro target.

Poxel: McPhy -6% (-4%) Seb and OVH

Clara Nova: -3% with Rizogen

Atos: -2% for Worldline, Alstom, STM, Bassac

Valeo: Atari, Genfit, Believe, Korian-1.5%

Amundi: -1% for LVMH, L’Oreal, Schneider and Chargeurs

The Renault (Stable) Board unanimously signs an agreement to sell 100% of Renault Russia’s shares to Moscow and 67.69% of AVTOVAZ’s shares to NAMI (Central Research Institute’s automotive and engine research and development). Approved in.