AOF analysis closes France / Europe – Beginning of the week in the red, the worrying remarks of Merkel weighed

(AOF) – The European stock markets started the week on a negative note, in a context marked by a new outbreak of Covid contamination. Impacted by the worrying remarks of Angela Merkel, who felt that the current measures were not sufficient, the European indices recovered in the afternoon thanks to the good dynamics of Wall Street, where Jerome Powell was renewed at the head of the Fed. However, this “boost” effect wore off at the end of the session. In the end, the CAC 40 yielded 0.10% to 7,105 points and the EuroStoxx 50, -0.24% to 4,346.16 points.

Telecom Italia Mobile (TIM) jumped 30.16% on the Milan stock exchange, to 0.451 euros per share on Monday, after the Italian operator announced that it had investigated KKR’s interest in buying the group on Sunday. The investment fund has thus sent a preliminary “friendly” cash offer of 0.505 euro per share for the entire capital of the company. The non-binding proposal would be conditional on a minimum acceptance level of 51% for the different categories of shares, and would have as its final objective a withdrawal of Telecom Italia from listing. Vivendi, TIM shareholder with nearly 24%, gained 1.95% to 11.26 euros.

Ericsson lost 5.60% to SEK 92.71 after announcing the takeover of Vonage Holdings for around $ 6.2 billion in enterprise value. UBS says Ericsson wants to grow its corporate client base after buying Cradlepoint for $ 1.1 billion in 2020 and cloud services. The specialist considers the logic of this transaction positively for Ericsson, which wants to diversify beyond mobile networks and find new sources of revenue growth.

Quadient (-1.72% to 19.97euros) successfully raised the equivalent of 270 million euros (178 million euros and 105 million US dollars) via a private placement governed by German law named Schuldschein. “Due to strong investor interest, the transaction volume was increased to 270 million euros against 100 million euros initially planned,” said Quadient. Combined with the group’s current cash position, this new issue aims to anticipate a significant part of the refinancing of the Schuldschein private placements maturing in 2022 and 2023 (81 million euros and 187 million euros respectively), as well as the repayment of the ODIRNANE bond by June 2022 (265 million euros).

Today’s macroeconomic figures

On euro zones, the consumer confidence index came out in November 2021 at -6.8. Economists were forecasting -5.5 after -4.8 in October.

Of United States, sales of second-hand homes for the month of October 2021 amounted to 6.34 million year-on-year, against a Briefing.com consensus of 6.20 million. In September, sales of second-hand homes had reached 6.29 million.

Around 5:50 p.m., the euro fell 0.16% to $ 1.1263.