2023-10-24 05:50:19
The main European stock markets are expected to be on a cautious note at the opening on Tuesday, in a context still dominated by uncertainty over tensions in the Middle East and ahead of numerous economic indicators which should give clues as to the future trajectory of rates of interest. According to the first available indications, the Parisian CAC 40 .FCHI might lose 0.12% at the opening. Futures contracts signal stability for the Dax in Frankfurt .GDAXI, a decline of 0.11% for the FTSE in London .FTSE and a drop of 0.12% for the Stoxx 600 .STOXX. Investors will be attentive in the morning to the publication of the “flash” PMI indices in Europe, considered to be good indicators of economic activity and which should signal a contraction for the month of October. These data will come two days before a monetary policy meeting of the European Central Bank (ECB) and as the publication season of corporate results accelerates. VALUES TO FOLLOW: nL8N3BT4R9 The results of Orange and Hermès are expected before the opening as well as those of Barclays, among others. A WALL STREET The New York Stock Exchange ended mixed on Monday, as bond yields fell and investors prepared for a week full of quarterly results, with regarding a third of the companies in the S&P-500, and the publication of highly anticipated economic data. The Dow Jones index .DJI lost 0.58% to 32,936.41 points. The broader S&P-500 .SPX lost 0.17% to 4,217.04 points. The Nasdaq Composite .IXIC advanced 0.27% to 13,018.33 points. Futures contracts on the three indices are currently reporting an increase of between 0.2% and 0.4% at the opening. IN ASIA The Tokyo Stock Exchange .N225 rose 0.25% as the close approached but was slowed by the plunge of the automobile manufacturer Nidec 6594.T (-10.39%) which left its annual forecast unchanged despite a increase in its quarterly results. In China, the stock markets remain under pressure: the CSI 300 index .CSI300 fell by 0.17% and the Hong Kong HSI .HSI lost 0.84%. RATES/EXCHANGES The yield on ten-year Treasuries US10YT=RR is almost unchanged, at 4.8462%, following the decline recorded at the end of the day on Monday following a peak above 5%. On the foreign exchange side, the dollar is moving little while awaiting the American economic indicators expected in the coming days: Q3 GDP on Thursday and inflation on Friday. .DXY The euro is moving slightly higher, to 1.0676 dollars. EUR= For its part, bitcoin BTC=BTSP jumped 3.86% to $34,350, reaching a high of almost 18 months following already soaring 10% on Monday on speculation concerning the imminent launch of a fund ETF holding bitcoin. OIL Crude prices are increasing and regaining some of the ground lost the day before, investors remain nervous regarding the implications of the conflict between Israel and Hamas in the Middle East. A barrel of Brent from the North Sea LCIc1 gained 0.36% to $90.15 and that of American light crude (WTI) CLc1 gained 0.3% to $85.77. MAIN ECONOMIC INDICATORS ON THE AGENDA FOR OCTOBER 24: COUNTRY GMT INDICATOR PERIOD CONSENSUS PREVIOUS FR 07:15 S&P PMI Index Oct. Global 44.4 44.2 “flash” manufacturing S&P Global PMI Index 44.6 44.4 “flash” services S&P Global Composite PMI Index 44.4 44.1 “flash” DE 07:30 S&P Global PMI Index Oct. 40 39.6 manufacturing “flash” S&P Global 50 PMI Index 50.3 services “flash” S&P Global Composite PMI Index 46, 7 46.4 “flash” EZ 08:00 Oct. S&P Global PMI 43.7 43.4 “flash” manufacturing S&P Global Services PMI 48.7 48.7 “flash” Services S&P Global Composite PMI 47.4 47. 2 “flash” GB 08:30 Oct. Global S&P PMI Index 44.7 44.3 “flash” manufacturing S&P Global PMI Index for 49.3 49.3 “flash” services (Written by Blandine Hénault, edited by Bertrand Boucey)
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