chaos in Washington, serenity on the CAC40

    chaos in Washington, serenity on the CAC40

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    THE TREND

    The invasion of the Capitol by supporters of Donald Trump and the chaos engendered in Washington with 4 deaths did little to shake up the financial markets. Even though the end of the Nasdaq session was more difficult, the Dow Jones and Standard & Poor’s 500 indices on the New York Stock Exchange set records on Wednesday thanks to the prospect of a Democratic majority in the Senate following the double victory in Georgia. Despite the unprecedented events on Capitol Hill, investors are not worried that Joe Biden will not be able to become the new President of the United States on January 20 after these troubles.

    The CAC40 is expected to rise this morning, thus materializing its overflow of 5,600 points at the close yesterday.

    WALL STREET

    Congress was to certify the election of Joe Biden as President of the United States, while Donald Trump said he would “never” concede defeat. Despite this twist, the Dow Jones finished on a record, after having crossed 31,000 points for the first time in the session. Following the senatorial elections in Georgia, investors are betting on a Senate tipping into the Democratic camp, which would increase the chances of a new major fiscal stimulus plan in the face of Covid-19.

    At the close, the Dow Jones index gained 1.44% to 30,829 points, a record, while the broad S&P 500 index rose 0.57% to 3,748 pts, and the Nasdaq Composite index, rich in technology and biotech stocks, ended down 0.61% at 12,740 pts.

    ECO AND CURRENCIES

    United States :
    – Challenger study concerning the destruction of announced posts. (1:30 p.m.)
    – Weekly unemployment registrations. (2:30 p.m.)
    – American trade balance. (2:30 p.m.)
    – ISM index of American services. (4:00 p.m.)

    Europe :
    – German industrial orders. (08h00)
    – ECB Economic Bulletin. (10h00)
    – European flash index of consumer prices. (11:00)
    – Italian preliminary index of consumer prices. (11:00)
    – European retail sales. (11:00)

    An ounce of the yellow metal is trading at $ 1,919. For its part, the euro / dollar parity reached $ 1.2321 this morning. A barrel of Brent is trading at $ 54.66.

    VALUES TO FOLLOW

    LafargeHolcim has signed an agreement to acquire Firestone Building Products (FSBP), a leader in roofing and building envelope solutions based in the United States, which achieved estimated 2020 revenues of $ 1.8 billion and an EBITDA of 270 million USD. This acquisition is an important step in the transformation of LafargeHolcim to become the world leader in innovative and sustainable construction solutions. The transaction is valued at $ 3.4 billion, to be financed with cash and debt, while maintaining net debt of less than 2x. Synergies of 110 Million USD per year are expected by the group. The acquisition will be accretive from the first year in terms of earnings per share (EPS).

    Icade Promotion says it recorded 5,338 reservations, an increase of + 5.4% compared to 2019, as well as 5,208 notarized sales, an increase of + 15%. In addition, Icade is part of the acquisition of Ad Vitam, a property development company specializing in housing and offices, based in Montpellier. With this acquisition, Icade aims to develop the Ad Vitam by Icade brand, which will be centered on the creation of company campuses dedicated to “soft industry” and with high environmental and energy added value. The transaction was finalized on December 30, 2020.

    Mauna Kea Technologies estimates that it achieved Q4 2020 revenue in the range of 2.2 to 2.3 million euros, which represents growth of around 30 to 36% over a year. on the other. Sales in the United States are growing 34 to 38% year over year.

    Dassault Aviation takes stock of its annual deliveries and its order book. In 2020, 13 Rafale Export were delivered compared to 26 in 2019. 34 Falcons were delivered, for a forecast of 30 deliveries, against 40 in 2019. 15 Falcon were ordered, against 40 in 2019. The level of order intake has been directly impacted by the Covid-19 epidemic. As of December 31, 2020, the order book included 62 Rafale and 34 Falcon, compared to 75 Rafale and 53 Falcon as of December 31, 2019.

    Saint-Gobain indicates that Q4 2020 sales should “significantly exceed expectations” to reach around 10.2 billion euros, posting organic growth (structure and comparable exchange rates) above 6%, with a very good price trend. The second half results benefited from the good momentum in most of the Group’s markets, the full effect of the cost savings and the successful portfolio optimization related to the “Transform & Grow” program, discretionary spending reductions, as well as only a very positive price-cost difference. Under these conditions, the operating profit for the second half of 2020 will exceed 2 billion euros, i.e. growth of more than 20% on a like-for-like basis compared to the second half of 2019. The operating margin for the second half of 2020 will thus reach a record level.

    THEY PUBLISHED THEIR TURNOVER / RESULTS …

    ST Dupont, LDC, Tonnellerie François Frères

    THE LATEST “RECOS” FROM ANALYSTS …

    Credit Suisse reverts from ‘neutral’ to ‘underperformance’ on
    Natixis.

    Jefferies is still ‘underperforming’ on Tarkett, but with an adjusted target price up to 12.25 euros.

    MARKET INFO

    Pixium Vision: drawdown of a new tranche of 1.25 ME.

    Celyad Oncology share purchase agreement of up to $ 40 million with Lincoln Park Capital.

    Amoeba: tenth tranche of OCA.

    Dolfines: private placement at 2.2 Euros.

    IN SHORT

    Advicenne: Peter Meeus new Managing Director.

    Gaussin: delivers 7 APM FULL ELEC terminal tractors to New Zealand.

    SpineGuard: new patent in Japan.

    Vogo: the Covid-19 saliva test reimbursed by the “Sécu”.

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