2023-09-19 11:30:03
Paris (awp/afp) – World stock markets rose slightly on Tuesday, awaiting the start of the meeting of the American Central Bank with apprehension because of the risk of persistent inflation, further underlined by the rise in oil prices.
After their sharp decline on Monday, prolonged in the first exchanges, the European stock markets rebounded a little: Paris gained 0.31%, London 0.13% and Milan 0.66% while Frankfurt was stable around 10:55 GMT.
After ending with anecdotal gains on Monday, American indices should open slightly higher, around 0.1%, according to their futures contract.
In Asia, Tokyo fell by 0.87%, the day following a public holiday. Hong Kong gained 0.37% and Shanghai lost 0.03%.
Investors are preparing for a new series of central bank meetings, starting with that of the United States (Fed), Tuesday and Wednesday.
The resistance of the American economy for several months “has contributed to inflation increasing more than expected and being more difficult to contain, which might encourage the Fed not to signal the end of the cycle tomorrow, as made the European Central Bank last week,” writes Oanda analyst Craig Erlam.
On Tuesday, the OECD significantly revised its estimate of growth in the United States in 2023, thanks to a vigorous second quarter. It also raised its global growth forecast for this year to 3%.
But high inflation and interest rate increases by central banks will continue to weigh on the global economy, the institution also warned, lowering its forecasts for 2024.
In the euro zone, the year-on-year inflation rate was revised downward for the month of August to 5.2%, Eurostat announced on Tuesday, which had published a first estimate of 5.3% at the end of last month. .
The Bank of England and the Bank of Japan also meet during the week.
Brent exceeds $95
Oil prices continued to rise on Tuesday, driven by reduced global supply, with Brent exceeding $95 per barrel for the first time since November, but the week full of central bank decisions still pushes investors to be cautious .
Around 10:45 a.m. GMT, Brent crude stood at $95.03 per barrel (+0.64%), while American WTI rose 1.28% to $92.65. These are the highest since November 2022.
On the bond market, rates remained high, at 4.31% for the 10-year loan of the American State.
The euro advanced 0.08% to 1.0701 dollars per euro.
Bitcoin rose 1.43% to $27,160.
Kingfisher different
The British group of DIY stores (-7.81%), owner in France of Castorama and Brico Dépôt, announced on Tuesday to lower its objectives for its current financial year, following a 36.5% drop in its profit net in the first half. It stood at 237 million pounds.
He also indicated that he was revising downwards his objectives for the current financial year.
The automobile is progressing in Europe
Volkswagen (+2.89%) is in the leading pack of the Dax following Jefferies recommended the stock for purchase and significantly raised the target price.
The Porsche SE holding company (+1.32%), majority shareholder of the manufacturer, also benefits.
In France, Renault increased by 2.64%, Stellantis by 1.65% and the equipment manufacturer Forvia gained 2.01%.
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