Drop in dollar
American actions remain “on a hesitant note, despite the appeasement of inflationary pressures”, notes Kathleen Brooks, director of research at XTB.
Production prices in the United States remained stable in June, better than anticipated by the markets, according to data published Wednesday by the Department of Labor. Analysts had tried on an increase of 0.3% in June.
“Renault sowed the disturbance throughout the European automotive sector, plumbering morale”
“Thus, inflation does not currently seem to represent an obstacle to a drop in rates by the American federal reserve, notes Kathleen Brooks, even if the CPI index published on Tuesday had shown that American inflation, on the consumer price side, accelerated in June.
The weakness of the American clues “comes from the technological sector”, she notes. “On Tuesday, the announcement that Nvidia would be authorized to export her chips to China had propelled action to a new historic summit. But Wednesday, the title is backing down, drawn by a disappointing publication of the Dutch group ASML”.
The manufacturer of advanced machines for the ASML semiconductor sector indeed pointed out on Wednesday its uncertainty as to its growth in 2026, causing the fall of its title of 11.37% on the Amsterdam Stock Exchange.
It is “a big disappointment, which therefore leads to a strong market effect”, explains Philippe Ledent, of ING.
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In response, the dollar jumped over 1% against the single currency before regaining its calm in a few minutes.
Around 4:00 p.m. GMT, the dollar lost only 0.24% to 1.1627 dollars for one euro.
Same observation on the side of the American bond market, the yield of the American loan at 30 years old blazing briefly before regaining its calm. It evolved at 5.01% around 4:00 p.m. GMT, at the same level as the day before at the end.
Renault leads the automotive sector
The title of the French car manufacturer Renault has dropped sharply on Wednesday (-18.47%) after the group announced lower its annual financial forecasts, the company pointing the “deterioration of the dynamics of the automotive market”.
“Renault sowed the disorder throughout the European automotive sector”, “plumbering morale” and leading to other values in its fall, is the responsibility
Renault comes across a new unpleasant surprise and dives on the stock market
A ParisStellantis finished down 6.13%. Mercedes-Benz (-1.90%), Volkswagen (-3.66%), BMW (-0.71%) or Porsche (-3.02%) also ended in Frankfurt. Volvo sold 3.14% to Stockholm.
Brokers’ opinion on UCB, Azelis and Ieteren
UCB (-0.6% at 169.65 euros) received a first opinion “Buy” from Goldman Sachs, with a target set at 250 euros. “We believe that the group is a rare opportunity within the European pharmaceutical sector, mainly due to the potential of BIMZELX whose sales could reach seven billion euros for all developing indications”. The analyst notably points out the favorable perspectives in the assumed hidradenitis (Verneuil disease), where the Bimzelx could quickly occupy a leading place.
Azelis (+1.3% at 13.85 euros) was noted to “keep” towards “buy” at Deutsche Bank, with a climbing target of 14 to 17 euros. The analyst believes that the group is not appreciated in its own measure despite solid operational fundamentals. “Performances are comparable to those of Dutch BRIM, while valuation is significantly more attractive”.
D’Ieteren (-4.3% to 173.4 euros) saw its note back down “buy” to “neutral” at Van Lanschot Kempen, the target backwards from 213 to 210 euros. On the one hand, the analyst remains convinced of the medium -term prospects for the holding company, in particular in terms of beneficiary growth. On the other hand, he believes that the moment has probably come for a break. “During the recent day of meeting with investors, it appeared that the group is registering a slowdown in growth in most divisions”.
G.Se.
