2023-12-06 16:51:00
The interest rate on the ten-year United States bond stood at 4.29%, compared to 4.32% at the close of the previous day. (Photo: Getty Images)
MARKET REVIEWS. Global markets were up Wednesday morning, the day following a difficult session on Wall Street fueled by worrying news regarding the health of the American economy.
Stock market indices at 7:45 a.m.
The German DAX added 0.1% and the CAC 40 French 0.2% at the start of the session in Europe, while the FTSE 100 British economy advanced by 0.4%.
In New York, before the markets opened, the average Dow Jones industrial stocks rose by 0.1% and the broader index S&P 500 of 0.2%.
In Asia, the Nikkei 225 jumped 2% in Tokyo. The scholarship of Shanghai fell by 0.1% and the Hang Seng gained 0.8% in Hong Kong. Sydney exploded by 1.7% and Seoul was stable.
On the New York Commodity Exchange, the price of oil dropped 29 US cents to US$72.03 per barrel.
The context
On the bond market, following their sharp fall on Tuesday, government interest rates remained stable in Europe.
Early indicators in a week of U.S. employment showed signs of a less employee-friendly trend, with job vacancies falling. This should translate into smaller wage increases, which bodes well for central banks in their fight once morest inflation.
In Europe, even Isabel Schnabel, one of the members of the European Central Bank most in favor of a strict policy, estimated on Tuesday that future key rate increases were improbable.
Investors are therefore reassured in their hopes of key rate cuts from the first months of 2024 on both sides of the Atlantic, further accentuating the movement initiated with a successful month of November.
On Wednesday, new data on employment in the United States are expected, with monthly job creations in the private sector, before the culmination on Friday of the official monthly report, published by the Department of Labor.
However, “a plateau will soon need to be reached so that the appearance of a potential soft landing is not just a path to a harder landing,” Deutsche Bank analysts warn.
Thus, in Germany, a country already in recession in 2023, industrial orders fell more than expected in October, according to official data.
All green for Blackpink
The stock of YG Entertainment, the main K-pop label, jumped more than 25% on Wednesday on the Seoul Stock Exchange following the contract renewal of the four members of the girl band Blackpink, putting an end to speculation regarding the future of the K-pop group with worldwide success.
Merck KGaA announces treatment failure
The German laboratory Merck KGaA (MKGAF) fell 13% following announcing Tuesday the failure of its multiple sclerosis treatment candidate, evobrutinib, following phase 3 testing.
The fall is particularly significant “given management’s confidence in the results,” argue Jefferies analysts.
Tui record
The world’s number one tourism company TUI posted record sales in 2023 thanks to an excellent summer season and more than doubled its operating profit year-on-year, forecasting to do even better in 2024. Investors applauded and the action soared 11.43%.
Societe Generale launches into “stablecoins”
The blockchain subsidiary of the banking group Société Générale Forge has announced the arrival of its “stablecoin”, a so-called stable cryptocurrency because it will be backed by a legal tender currency, in this case the euro, on a platform of cryptocurrency trading. It is the first banking group to do so. The stock rose 0.84%.
Calm times on the currency market
The European currency fell 0.16% to 1.0779 US dollars ($US), around 7:50 a.m.
L’or was trading at US$2,032.54 per ounce, up 0.65% but still a little far from its absolute record reached on Monday, at US$2,135.39 per ounce.
The bitcoin took 0.56% to US$44,170, jumping 13.8% over the week.
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