(Boursier.com) – TREND
The CAC 40, which had managed to bounce back to 1.6% yesterday, plunged violently Thursday, 4.05 % to 3,897 points, its worst signing session of the year and thus finishing below the 3,900 points for the first time since July 2013 …
the banks have been attacked today, particularly Societe Generale (-12.5%) which published its 2015 results nor were mostly respite oil stocks while the black gold has fallen below $ 27 a barrel WTI. Brent relapse meanwhile on the $ 30 …
The decline is general in Europe on Thursday (-2% in Germany, 2% in Greece, Italy -5%, -4% Spain …).
Wall Street relapse as now, while Janet Yellen looks set to continue its monetary tightening despite the risks and the current conditions …
ECO / CURRENCY
Janet Yellen, the Fed’s Chair, speaks again today before the banking Committee of the US Senate. Overall, Yellen stands his ground and seems to opt for a continuation of the gradual rise in interest rates, despite the uncertainties …
The US Labor Department announced that new enrollments weekly unemployment, at a rate adjusted for seasonal variations, fell by 16,000 over the previous week to 269,000. A figure better than expected because the consensus expected 281,000.
On the foreign exchange market, the euro is now worth $ 1.1369. The side of the oil, WTI stood at $ 26.3 and Brent is displayed to $ 30.
VALUES RISE
* CGG up 6.4% with GENFIT (6%).
* Natixis after gaining 5.5% results 2015. A dividend of EUR 0.25 will be proposed and 0.1 euro exceptional dividend.
* Publicis gaining 1.7%. Organic growth was limited to 1.5% in 2015, although the fourth quarter was marked by a surge of 2.8%. The results are up, driven by acquisitions. The group proposes a dividend of 1.6 euro per share. Chairman Maurice Levy remains cautious on 2016 citing a “modest organic growth” and the continued reorganization to allow the group to “run at full speed” in 2017. Analysts are also pleased with the end of year and did not formalize (too) even cautious outlook on 2016.
VALUES dROP
* Korian drop 14.7% after making a consolidated turnover of € 2,579.3 million in fiscal 2015, up 16.1% as reported and up 3.2% in proforma . This performance is consistent with the objectives of the group. But despite these generally satisfactory earnings, Korian has lowered its forecast rate of EBITDA margin in 2015 … This should show a decline of about 100 basis points from the level achieved in 2014.
* Societe Generale plunged 12.5%! The bank generated net profit of 4 MdsE in 2015. The red and black bank has posted results far from catastrophic and a Common Equity Tier 1 ratio of financial strength 10.9%, close to the other hexagonal institutions. Management has even decided to pay a dividend of 2 euros per share, a sharp increase compared to 2014, which is generally a sign of confidence on the outlook. Yet in detail, some elements have disappointed analysts. This is the case of Jean Sassus, at Oddo Securities, who notes that insurance and retail banking in France have instead met expectations, unlike the IPC and retail banking abroad. The expert expects a downward adjustment of consensus. The current context being what it is, management fears that its objectives in 2016 are complicated to achieve, as low interest rates and volatile financial markets significantly complicate its task. A message that’s hard to pass by febrile investors. The capitalization of the bank was melted by 22 billion euros, the lowest since spring 2013. Société Générale weighed up 140.5 MdsE in 2007, just before the crisis of “subprime.”
* Edenred drop of 10.1%. “For the year 2016, organic growth in issue volume is expected in the lower range of 8% to 14% expected in the absence of signs of economic recovery in Brazil,” the company said. The operational conversion (whose historic goal is to be greater than 50%) should also be higher than the level recorded in the second half 2015 (42%) and the increase in FFO in the bottom of the historic goal annual growth of over 10% on a comparable basis.
* ArcelorMittal continues to fall, down 6.8% today …
* Pernod Ricard lost 6.7%. The first half sales of spirits giant totaled 4.96 MDSE, with organic growth of + 3%. The current operating income amounted to 1.44 MoE, with organic growth of 3% and net profit to 886 ME, up 12%. The group confirmed an internal growth target OCR + 1% to + 3%.
* Legrand (-6.4%) saw its adjusted operating margin 2015 s ’19.4% of revenues, in line with the 2015 target confirmed and clarified in November to “at least 19%.” The group set a goal for 2016 of organic change in sales of between -2% and + 2% and an adjusted operating margin before consideration of acquisitions between 18.5% and 19.5% of turnover, business.
* BNP Paribas also subsequently falls 6% with Credit Agricole (-6.6%) and Axa ( -6.9%).
* Total yields 3.2%. As expected, the group saw its earnings deteriorate in 2015, victim of the falling prices of crude. The oil giant has recorded over the last three months of the year EBITA of 2.093 billion sectors, down 44%, for a turnover down 28% to $ 37.75 billion. Adjusted net profit was 2.075 billion $ , down 26%, but higher than the $ 1.77 billion expected by analysts.
* Nokia lost 2, 1%. Alcatel-Lucent released its latest results in “solo” after the group’s successful acquisition of Nokia. The supplier the opportunity to claim the success of his plan “Shift”, which helped to straighten the building in 2015 and generate a cash flow of 660 ME.
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