2023-07-04 12:43:14
(Photo: The Canadian Press)
MARKET REVIEWS. The European stock markets evolve without much movement Tuesday in the absence of leading economic indicators and American investors on the holiday of the declaration of independence of the United States.
Stock market indices at 8:30 a.m.
At the start of the session, London gained less than 0.1%, while Paris et Frankfurt rose 0.1%.
THE US markets were closed Tuesday for Independence Day.
In Asia, Shanghai et Hong Kong gained less than 0.1% and 0.4% respectively. On their side, Tokyo et Seoul fell 1% and 0.4%.
The index of Sydney jumped 0.5% following the Reserve Bank of Australia left its key rate unchanged.
On the New York Commodity Exchange, the price of oil gained 60 cents to settle at US$70.39 a barrel.
The context
The interest rates of European States went up once more a little. That of the French 10-year loan once more exceeded 3% (3.01%).
“European equities are struggling to orient themselves in a light economic calendar and on weak volumes, the American markets being closed for the day of Independence”, observed with AFP Fiona Cincotta, analyst at City Index.
But the break will not last forever and the analyst “expects volumes to pick up” by Friday and the monthly US employment report.
On Tuesday, the Australian central bank left its key rate unchanged. Its governor Philip Lowe said that while “the peak of inflation had passed”, the economic outlook remained uncertain.
Semiconductors conduct voltages
China announced Monday the imposition from next month of restrictions on exports of two rare metals of which the Asian giant is the main producer and essential for semiconductors.
“The two largest economies have been locked in an economic and commercial cold war since 2018”, which now affects “the production and obtaining of technological know-how” including semiconductor chips, recalls Kelvin Wong , Oanda analyst.
In Japan, manufacturers of industrial equipment have advanced, such as Advantest (+0,59%) et Taiwan Semiconductor (+1,04%).
In Europe, following a favorable start to the session, STMicroelectronics fell by 0.42%, Infineon by 0.77% and ASMI of 0.05%.
Billionaires at the bedside of Casino
The French distributor Casinoin difficulty, announced on Tuesday that it had received two rival offers to bail it out from groups led by billionaires, big names in the business world who promised to bring it fresh money.
The action, which had lost almost 50% of its value last week, rebounded 16.22% before being suspended at the request of the company, until the publication of a press release.
Sainsbury’s on the aisle of disappointments
The British supermarket chain Sainsbury’s fell by 1.49% following the announcement that food inflation is starting to fall and despite the publication of a turnover (excluding fuel) up 9.2% for its staggered first quarter.
Oil is on the rise once more
Oil prices rose once more on Tuesday at midday without completely erasing their losses from the previous day.
The barrel of North Sea Brentfor September delivery, rose 1.52% to US$75.79.
Its American equivalent, the barrel of West Texas Intermediate (WTI) for August delivery, gained 1.66% to US$70.95.
The greenback advanced (+0.09%) once morest the euro, to US$1.0902 for one euro.
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