Jul 31, 2008
The market slightly in anticipation of U.S. GDP
Rising this morning, major European stock indices ceding ground at mid-session, investors are showing undecided face a wave of mixed results and cautious pending the first estimate of GDP in the USA in the second quarter. The stabilization of oil prices above 126 dollars and the announcement of a record inflation rate in the euro area also hinder the initiatives.Illustrant erratic results, telecom operators are experiencing varying degrees, the British BT dropping by 11.8% after quarterly slightly worse than expected, while France Telecom, which announced the payment of a dividend, gaining 1.5%. The distribution sector and consumer products is about him penalized by the disappointing quarterly performance of Unilever, which fell by 7%. The banking sector is divided between the new depreciation announced by Deutsche Bank and accounts better than expected HBOS. Meanwhile, Sanofi-Aventis is penalized by the results judged disappointing. Proper maintenance of oil and values parapétrolières nonetheless allows the major indices to limit their losses after the publications of Royal Dutch Shell, Technip and CGG Veritas.A noon, the Cac 40 yields 0.03% at 4.399,37 points in a volume of Business 1.5 billion euros traded on the index values. In London, the Footsie lost 0.08% at 5.416,5 points and in Frankfurt the Dax down 0.16% at 6.450,08 points. A New York on September future contract on the Dow Jones index dipped 35 points to 11.545.Le barrel of light crude American sells 49 cents to $ 126.28 following a gain of more than $ 4 resulting from the decline of surprise Weekly gasoline stocks in the USA. The dollar retrenched slightly to 1.5617 against the euro, after touching a high of one month to 1.5522 hier.Sur the macroeconomic level, inflation hit a new record at 4.1% yoy in July in the euro area, while the unemployment rate remained stable at 7.3% of the workforce month dernier.Trois indicators American lead in the afternoon: the first estimate of GDP in the second quarter and registration weekly unemployment at 14.30, followed by Chicago PMI index to 15h45.Plus sharp drop in the Cac 40, Sanofi-Aventis fell by 5.05% to 44.91 euros. The pharmaceutical group showed a decline of 4.4% of its net income to 1605 billion euros, or 1.23 euro per share. The operating margin stood at 2.4 billion euros, up 3.1%, and turnover fell by 3.6% to 6.68 billion. The consensus reached by Reuters expected earnings per share of 1.33 euro and a turnover of 6.99 billion. For the full year, the lab aims to grow its earnings per share adjusted by about 8% on the basis of one dollar to 1.3710 per 1 euro, against a 7% increase previously estimated. Finally, Sanofi-Aventis said to have deposited in Europe and the USA's dossier Multaq for arrhythmias auriculaire.France Telecom was up 1.89% to 20.15 euros. The telecom operator announced a 19.1% decline in its net profit to 2.67 billion euros in the first half. Operating income was stable at 5.74 billion euros (+0.1%) and operating margin appreciated by 2.7% to 9.67 billion. The turnover increased by 1.5% to 26.3 billion euros. The Reuters consensus expected a net profit of 2.77 billion euros and an operating profit of 5.27 billion. The incumbent confirms seek growth of 2% to 3% of its turnover this year and is aiming at a stable rate of gross operating margin compared to 2007 (36.1%). Finally, France Telecom announced the payment of an ordinary dividend of 0.60 euro per share, which will be paid on 11 septembre.Capgemini lost 3.73% to 40.47 euros, investors taking profits after results without surprise. The SSII recorded a leap of 37.5% of its net profits to 231 million euros in the first half. The operating margin increased by 23.4% to 332 million euros (7.6% of turnover) while the turnover contracted by 0.5% to 4.37 billion (+5.3 % Perimeter and constant exchange rates). Analysts tablaient on a rate operating margin of 7.5%. For the full year, SSII confirms target an operating margin of 8.5%, against 7.4% per annum dernier.EDF gaining 2.39% to 55.59 euros. The Board of Directors of the electrician must give the green light today to bid on British Energy, according to the press. The proposed price would be 760 to 775 pence per share, valuing the British group more than 15 billion euros. ArcelorMittal is even 2.58% to 59.20 euros after the announcement of a leap of 111% its quarterly earnings. The steel giant also believes that the high steel prices should enable it to register a new growth performance in the third trimestre.Total appreciated by 1.79% to 50.07 euros while a barrel of crude rose by more than $ 4 yesterday against a backdrop of weekly stocks declined by the USA. The Anglo-Dutch Royal Dutch Shell reported a growth of 5% of its net income to current cost of supply. Vallourec, which must publish its accounts after the closure, yields 0.35% to 191.92 euros.Technip increased by 6.05% to 55.15 euros. The group parapétrolier reported a growth of 29.4% of its net profits to 103 million euros in the second quarter. The current operating income increased by 23% to 157.5 million euros, while turnover fell by 1.1% to 1.82 billion. These figures are higher than the forecasts of analysts. For 2008, Technip revising up its forecast for operating margin ratio "at around 8% with a margin of more than 18%." Oddo Securities, which considers the results excellent prospects reassuring, rose from "accumulate" to "buy" on the titre.Dassault Systems down 5.64% to 40.46 euros. The software publisher in the design made a profit of 0.46 euro per share in the second quarter, up 9.5%. The turnover increased by 6% to 326.2 million. At constant exchange rates, growth amounted to 12%. The group expected a profit per share of 0.44 to 0.46 euro and invoices between 315 and 320 million. For the full year, the group confirms its forecast of growth of software sales, operating margin and earnings per share. Finally, Dassault Systemes plans to repurchase up to 2 million of its own shares during the second semestre.Enfin, Safran abandons 7.50% to 11.96 euros. The aerospace manufacturer reported a net profit of 156 million euros in the first quarter, against 215 million a year earlier. Operating income increased by 52.4% to 474 million, but includes a gain related to the sale of banking center. Excluding this divestiture, sales rose by 2.8% to 5.05 billion. Finally, Safran announced the sale of its mobile division Soffinova funds, which will result in a charge of about 220 million euros on its 2008 accounts. The amount of the transaction was not disclosed.
by erectusplus at 5:31 AM |
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