2023-04-17 12:43:12
(Photo: The Canadian Press)
MARKET REVIEWS. Global markets were modestly higher on Monday morning as dark clouds continued to worry investors, particularly with regard to inflation.
Stock market indices at 7:45 a.m.
The FTSE 100 added 0.5% at the start of the session in London. THE CAC 40 improved by barely 0.1% in Paris. THE DAX took regarding 0.2% in Frankfurt.
In New York, before the markets open, the average Dow Jones of industrial stocks and the broader index S&P 500 increased by approximately 0.1%.
In Asia, the Nikkei 225 added nearly 0.1% in Tokyo. The scholarship of Shanghai jumped 1.4% and the Hang Seng 1.7% in Hong Kong. Sydney took 0.3% and Seoul 0,2 %.
On the New York Commodity Exchange, the price of oil was down 43 cents at US$82.09 a barrel.
The context
Anticipating the evolution of interest rates and gauging the risk of recession are at the heart of the concerns of market operators.
Early corporate results, including comfortable profits from several US banks, are reassuring investors.
“Recent stress around US banks has heightened concerns around the trajectory of growth, triggering a shift in focus from markets focused on inflation last year to growth this year,” Stephen said. Innes, analyst at SPI Asset Management.
“Nevertheless, the prospect of a peak in inflation tends to comfort stock market investors,” he adds.
Several speeches by members of the US central bank are expected this week, which will give analysts more food for thought ahead of the institution’s monetary policy meeting in early May.
Investors hope, however, that the US central bank will not only stop raising its key rates following the next meeting, but also lower them by the end of the year.
As for microeconomic information, the publications of company results continue this week, with in particular L’Oréal, Netflix, Johnson & Johnson, Goldman Sachs, or Ericsson.
Social appeasement at IDS
The British postal group International Distributions Services (IDS) takes 5.01% in London following the announcement of a tentative agreement with the CWU union on the pay of Royal Mail employees, which might end a social movement which lasts for months.
Winning game for Rovio
Japanese Sega (6460) will launch a friendly takeover bid for the Finnish Rovio (ROVIO)known for its hit franchise Angry Birds, for almost 700 million euros, representing a 19% premium to Rovio’s closing share price on Friday.
Around 11:30 GMT, Rovio jumped 17.75% in Helsinki, while Sega lost 4.17% in Tokyo.
New offer on Network International
Network International (NETW)specializing in payment solutions in the Middle East and Africa, soared 18.81% to 360 London pence, following confirming a takeover offer from CVC Capital Partners and Francisco Partners Funds at 387 pence per share which would value the company at some £2.1 billion.
In its wake, Worldline (WLN) climbed 3.58% in Paris.
On the side of oil, currencies and rates
On the foreign exchange market, the euro yielded 0.15% once morest the dollar at 1.097 5 dollar around 11:30 GMT.
Oil prices fell slightly on Monday as fears that a sluggish global economy would consume less than expected offset sharp output cuts by some OPEC+ members. The barrel of American WTI lost 0.47% to 82.14 dollars around 11:30 GMT and that of Brent from the North Sea fell 0.35% to 86.01 dollars.
On the bond market side, rates were stable. The yield on German 10-year debt was worth 2.46%, and the American equivalent 3.54%.
Bitcoin fell 1.77% and fell back below $30,000.
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