the CAC 40 returns to flirt with 6,500 points

THE TREND

The CAC 40 came back to flirt at 6,500 points this morning, thanks to a drop of about 0.60%. The new rise in bond yields, with a US 10-year position repositioning itself above 3%, is making risk appetite more vulnerable. Worries about inflation and monetary policy tightening are more central than ever.

As a result, Australia’s central bank on Tuesday raised its key interest rate by half a percentage point, a higher than expected increase, and stated that monetary policy tightening should continue in the coming months to curb inflation.

In Europe, the European Central Bank should not meet its rates on Thursday, but it could give markets new indications on its intentions for the coming months.

WALL STREET

In the wake of Asian and European stock markets, Wall Street started the week in the green, despite a fresh rise in yields as 10-year US Treasury yields jumped above 3%. However, the indices narrowed their gains at the close, with the Dow Jones gaining 0.05% to 32,915 points Monday evening after gaining more than 1% during the session. The broad S&P 500 index rose 0.31% to 4,121 points, while the Nasdaq Composite, rich in technology and biotech stocks, gained 0.4% to 12,061 points.

Last week, the three US indices were all down about 1%, after recovering from about 6% the previous week. Since the start of the year, the Dow Jones has lost about 9.5%, the S&P 500 13.5% and the Nasdaq 23%.

ECO AND CURRENCY

UNITED STATES :
– US trade balance. (2.30 pm.)
– Consumer credit. (9:00 am.)

Europe:
– German industrial controls. (08:00)
– Spanish industrial production. (9:00 am)
– German construction PMI. (09:30)
– Final CIPS UK Services PMI. (10:30 in the morning.)

Euro/dollar parity reached $1.0679 this morning. A barrel of Brent is trading at $120.13. An ounce of gold trades at $1,839.

INCREASING VALUES

Global Bioenergies (+17% to 5.28 euros) received first orders from several major cosmetics players representing a total of different tons of Isonaturane 12. Less than two months after the commissioning of the commercial production unit of Pomacle, the group announces that several major players in cosmetics, including L’Oréal, have placed their first orders. Isonaturane 12 is the trademark registered by Global Bioenergies to name its isododecane of natural origin. Isododecane is one of the most important molecules in cosmetics, used both in the make-up segment, where it is the only one that can provide long-lasting properties, and in dermocosmetics and hair care, where it makes the textures light and soft. This compound, thanks to Global Bioenergies, is now available in a bio-sourced version, in accordance with the ISO 16128 standard regarding naturalness in cosmetics. Isonaturane 12 is produced through a 100% French sector based on local sourcing of raw materials.

Technip Energies (+0.05% to 12,725 euros) won a feasibility study contract (Bankable Feasibility Study) with Viridian Lithium for the construction of the first lithium refining and conversion plant in Europe. The plant, located in Lauterbourg, France, will produce up to 100,000 tons of lithium-based battery chemicals — enough to power 2 million electric vehicles — to enable a safe and reliable battery supply chain for the transition to electric mobility.

DECREASING VALUES

Capgemini (-0.75% to 180.90 euros) has acquired Rufus Leonard, a design and brand experience agency based in London. Rufus Leonard’s proven expertise in designing and developing leading brands through design and technology will enhance the group’s ‘customer-centric’ service offering in the UK. The transaction was completed on June 1, 2022. Based in London, Rufus Leonard is a 70-strong agency specializing in transforming service company brands to deliver compelling experiences. Her portfolio of clients, including the World Wildlife Fund (WWF) and AXA UK, and her expertise in creative design complement Capgemini’s “innovative and people-centric” design services offering, driven by frog, part of Capgemini Invent. The Rufus Leonard team will be integrated into frog in the UK.

THEY PUBLISH THEIR REVENUE/RESULTS…

THE LATEST “RECOS” FROM ANALYSTS…

SG went from ‘sell’ to ‘hold’ on Rémy Cointreau and aimed for a price of 185 euros.

Berenberg is still short of Air France-KLM with an adjusted target of 3.10 to 1.10 euros.

Jefferies returns to underperformance on Dassault Systèmes by aiming for a price of 33 euros.

MARKET INFORMATION

Eduform’Action: capital raising project.

Adomos: OCABSA conversion suspended from June 6 to July 15.

Voltalia: second employee shareholding plan.

IN SHORT

Lhyfe: Memorandum of Understanding with Horisont Energi.

Witbe chosen by United Cloud in Europe.

HRS and Burckhardt Compression speed up!

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