(Boursier.com) – TREND
After a dip of 3.2% yesterday, the CAC 40 fell another 1.69% on Tuesday, passing under 4,000 pts at 3,997 pts fence … the Paris index had not closed below the psychological barrier of 4,000 points since October 2014! The markets continue to depress in the absence of real economic good news. In Asia, the Nikkei also unscrewed more than 5% this morning. Bank stocks remain in turmoil, as oil stocks once again weighed down by falling prices of black gold, back below $ 30 a barrel for WTI.
The Fed could nevertheless reassure investors, while Janet Yellen should publicly speak tomorrow and Thursday before the House of representatives and the Senate. The boss of the US central bank could provide further guidance on the process of monetary tightening initiated recently in the United States …
In Europe, the Greek and Italian stock exchanges still fall more than 2% aujourd ‘hui.
ECO / CURRENCY
According to the government report of the day in the US, wholesale inventories for December 2015 is emerged declined by 0.1% compared to the previous month, in line with the market consensus, against 0.4% a month before.
According to the US Department of Labour on Tuesday, the openings positions for the month of December 2015 emerged the number of 5.607 million, against 5.346 million for the revised reading (down) in November 2015 and 5.41 million consensus.
industrial Production German December is extremely disappointing as it shrinks 1.2%, while economists on average expected a 0.5% rebound. In one year, it falls to -2.2%. In parallel, the statistics service announced figures lower expectations for the trade balance, with a contraction of -1.6% for both imports and exports.
The imbalance between supply and demand will be more than expected in the first half. Oil production should thus be higher than consumption of 1.75 million barrels per day in the first six months of the year, against an estimate of 1.5 million bpd last month, says the IEA. Concerned, the increase in Iranian production following the lifting of Western sanctions, a record operation in Iraq and production also increasing in Saudi Arabia.
On the foreign exchange market, the euro is now worth $ 1.1316. The side of the oil, WTI stood at $ 29.7 and Brent to 32.1 $ displays.
VALUES RISE
* a against the current, GENFIT offers a rebound of 9%.
* on CAC 40 Publicis up 1.1% with Air Liquide (+ 0.8%).
* Scor (+ 0.3%) unveiled the results of its renewals at 1 January . The reinsurer reported a technical profitability “expected stable compared to January 2015,” while gross premiums were up 2% to 3 billion euros. The net combined ratio in 2016 is expected close to 94%, if the level of claims remains within the standard.
VALUES DROP
* CGG plunged 17.5% with Vallourec (-12.4%) or Total (-3.6%).
* ArcelorMittal drop 10.8%. The record is the victim of two analyst downgrades. JP Morgan lowered its opinion to “overweight” to “neutral” with 2.70 euros in the viewfinder (against 5.9 euros previously). ING is in turn passed to “hold” against a review “purchase” before, with a theoretical valuation of 3.1 euros.
* Technip lost 5%. The group has yet won a lump sum contract with Deep Gulf Energy III for field development South Santa Cruz and Barataria, located in ultra deep waters in the Mississippi Canyon (Gulf of Mexico), off New Orleans , about 2,000 meters deep.
* After an attempt to rebound in early trading, LafargeHolcim lost another 4.7%. The group received the green light from authorities to transfer all of Lafarge India. A sale process was relaunched. The group will present on site through ACC and Ambuja Cements.
* Credit Agricole yields 4.5% and Societe Generale lost 4.4%. BNP Paribas was down 3.5% from its side with Natixis (-5.4%).
* Gecina yields 2.1%. The land will yield its real estate asset health Primonial REIM, following the selection process launched last year. The transaction amount reached 1.35 billion euros deed in hand, a net yield of 5.9% and a premium of approximately 16% on the expertise of 30 June.
* L’Oreal lost 1.4%. Reportedly, Natixis rose to “buy” on the folder while raising its price target from 161 to 170 euros. The strong fundamentals of L’Oréal (recurrence of results, quality and risk profile of its balance mix) deserve the title returns to its historical premium (over 5 years) compared with staples. Further optimization of the balance sheet would be a plus but at this level of relative valuation, such a catalyst is not necessary, says the bank.
* Sanofi yield 1.4% . The group released this morning the 2015 mixed results, because if revenues, operating income and the dividend came out a little short, net income per share is slightly higher than expected. The laboratory confirmed that 2016 will be a transition year which will result in a stable results.
* Engie (-0.2%) will close its plant in Rugeley (Staffordshire) in the center of England at the beginning of next summer. He had to take this decision because of the deteriorating conditions on the UK market for coal plants, whose prospects are not ready to improve. The 1,000 MW power plant has been operational since 1970. It is 75% owned by Engie and 25% by Japan’s Mitsui.


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