(Boursier.com) – The Paris stock market returned above 6,500 points this bright Monday, up 0.9% to 6,540 points, despite the still turbulent closing of Wall Street on Friday night, but this was facilitated by a sharp recovery in Asian markets this morning by more than 2% in Shanghai and 1.5% in Hong Kong.
The New York Stock Exchange, for its part, retreated on Friday, following the release in May of a reliable report on employment in the United States, which should encourage the Federal Reserve to quickly raise the key rate to curb inflation. After Jamie Damon (JP Morgan), this is Elon Musk (You are here), which causes a cold, causing a “bad feeling” for the economy … Oil continues to rise to $ 120 per Brent, while the yield on 10-year US government bonds ended at about 3% against 2.74% last Friday.
To conclude on Friday, c Dow Jones lost 1.05% to 32,899 points, while the broad index S & P500 lost 1.63% to 4,108 points and that Nasdaq Compositerich in technology and biotech stocks, fell 2.47% to 12,012 points after recovering 2.7% on Thursday.
In the last week (reduced due to Remembrance Day on Monday), all three indices fell by about 1% after recovering by about 6% a week ago.. Since the beginning of the year, the Dow Jones has lost 9.5%, the S&P 500 has fallen by 13.8% and the Nasdaq by 23.2%.
ECO AND CURRENCY
The long-awaited monthly report on employment in the United States in May confirmed the strength of the market, contrary to data published on the eve of ADP, which reported a sharp decline in job creation in the private sector … According to. in the report of the Ministry of Labor, US Economy much more jobs were created than expected last month, ie 390,000 versus 323,000 expected by consensus. In addition, Figures for April were revised to 436,000 from 428,000 initially It is estimated that it is enough to justify a few turns of the Federal Reserve by half a point at its next meetings to avoid overheating.
The unemployment rate remained stable in May at 3.6% versus 3.5% by consensus. The number of jobs created in the private sector was 333,000, against a consensus of 302,000. On the eve of the ADP, for its part, reported only 128,000 new jobs, and this figure contributed to the revival of Wall Street.
The average hourly wage in May rose slightly less than expected, by 0.3% in one month against + 0.4% of consensus, but still growing by 5.2% in one year. The level of labor force participation was 62.3%.
According to some economists, markets are still concerned about the tightening cycle of the US Federal Reserve’s monetary system, which could plunge the economy into recession. Currently, futures markets are forecast to increase three, not two, half-points in June and July, as well as in Septemberbefore considering a pause or slowdown by the Fed … After rising by a quarter of a point in March and a half points in April, Fed rate now ranges from 0.75% to 1%.
Thursday, Fed Deputy Chairman Leil Brainard, hinted that in September there will be no pause in raising rates. She said she supports turning the screw at least half a point in June and July, and even more in the coming months, if inflation, which she called “the number one challenge”, does not subside.
“Now it is very difficult to see an excuse for a break (at the meeting in September). We still have a lot of work to do to return inflation to our 2% target, ”said Fed No. 2.
In the US bond markets, sovereign yields rose sharply amid the more “hawk” Fed, which also began to reduce its balance on June 1. Implementation T-Bond in 10 years fell 2.96% on Friday night against 2.74% last Friday, while the pace T-Bond for 2 years was at 2.66% against 2.48% last Friday. In the euro area, the yield of the 10-year-old German fund increased by another 3 bp. on Friday up to 1.26% …
In the foreign exchange market, euro located above 1.07 / $. in bitcoin exceeded $ 30,000 to $ 31,160.
Oil continues to rise amid an agreement on an embargo on Russian oil by the European Union. Barrel of American light oil WTI rose more than 2% to $ 119.60 on Nymex, up 3.5% over the past week, while Brent The price in the North Sea, ending in August, rose to $ 120.70 on ICE. Oil prices have just risen for the sixth week in a row due to supply disruptions related to the war in Ukraine.
Growth of values
Nanobiotics (+ 7%) presents at the annual meeting of the American Society of Clinical Oncology (ASCO) in 2022 new data highlighting the potential of NBTXR3, the first in its class radio amplifier, combined with concomitant chemotherapy for head and neck and rectal cancer. cancer.
Nanobiotix also presents a poster outlining a plan for a current Phase III key study, NANORAY-312, evaluating radiation-activated NBTXR3 in the treatment of debilitated elderly patients with locally advanced squamous cell carcinoma of the head and neck (LA -HNSCC). platinum.
NBTXR3 is being developed so that it can be integrated into therapeutic treatment in oncology: data from phase 1b / 2 studies in combination with collaborative chemotherapy are part of this goal.
Phase 1b / 2 studies showed that the combination of NBTXR3 with concomitant chemotherapy was possible, showed favorable profile tolerability, 100% disease control, and an overall rate of 12 patients to be evaluated with locally advanced stage IV head and neck cancer. response rate 58.3%.
In 31 patients with inoperable colorectal cancer, phase 1b / 2 studies showed that the combination of NBTXR3 with concomitant chemotherapy before surgery was possible, had a favorable safety profile and allowed 96% of patients to undergo complete surgical removal (R0) of, among 25 operated patients complete the pathological response is 20%. The level of disease control was 100% and the overall response rate was 35.5%.
Transgene (+ 6%) announces that it presented preliminary Phase I data on TG4050, its individual neoantigen vaccine, during a poster presentation at the annual conference of the American Society of Clinical Oncology (ASCO). The TG4050 comes from the Transgene myvac (R) platform and benefits from NEC’s artificial intelligence (AI) technology.
These new positive preliminary data include the molecular response (circulating tumor DNA). They were obtained from the first patients treated in two multicenter phase I studies that evaluated TG4050 in ovarian cancer and HPV-negative head and neck cancer. The data was presented in person in Chicago (USA), June 5, 2022.
katana : + 4% with Faurecia
Vallourec : + 3%. Barclays has returned from “underweight” to “online weighing”, focusing on the rate of 17 euros.
Nava : + 3% with Assystem, Showroomprivé and M&P
Societe Generale an advance of 2.5% to 25.6 euros, supported by a note from Jeffries. According to our information, the broker has raised the recommendation to “buy” the red and black bank, raising its target price from 25 to 35 euros. He explains that the risks, including the French election, Russia’s influence and frustrations in spending and capital, have recently disappeared. Thus, the analyst estimates that the lender will reach ROTE (return on capital) above 9% in 2024, and notes that he may seek double-digit RoTE in his plan for 2025, which should be announced later this year. According to him, the bank has significant potential for revaluation.
Gorged Group : + 2% with Gl Events, SMCP, BigBen, CGG, Air Liquide, Akwel, DS and Renault
L’Oreal : + 1.5% with STM, Hermes, Remy Cointreau, BioMerieux, Safran, Stellantis, Amundi
Publicis (+ 1%). In a letter received from AMF on June 1, BlackRock Inc, acting on behalf of customers and the funds it manages, stated that on May 31, it exceeded the 5% threshold for voting rights. Publicis. It owns 13,691,860 shares of Publicis Groupe SA on behalf of these clients and funds, representing the same number of voting rights, ie 5.4% of the capital and 5.11% of the company’s voting rights.
This excess of the threshold is the result of the acquisition of Publicis Groupe SA shares on the market and an increase in the number of shares that are collateral.
FALL OF VALUES
parrot : -4%, followed by Cegedim (-3%)
EDF : -1.5%. HSBC returned to “relief”, focusing on the exchange rate of 7.40 euros.
Eramet : -1% with McPhy, Technip Energies
Distribution Group Board of Directors Crossing (-1%) decided this Friday to reduce its share capital by canceling 12,506,325 shares previously repurchased, which is about 1.6% of the share capital. After this cancellation of shares, the number of shares constituting the capital of Carrefour will be 742,157,461, and the number of own shares, respectively, will be 11,544,870 shares.
Living : -0.5% with orange, vilmorin, burelle