2023-12-12 18:00:22
(Photo: Getty Images)
MARKET REVIEWS. Stock markets are up on Tuesday, with records broken in France and Germany, pending the publication of inflation figures in the United States and a monetary policy decision on Wednesday from the American central bank.
In Europe, Paris broke its absolute points record, surpassing its mark from April. The Frankfurt Stock Exchange also improved its record.
At the continental level, the Eurostoxx 50 (-0.03%), which brings together the 50 largest European capitalizations, is moving close to its highest since the beginning of 2007 while the broader Eurostoxx 600 index (-0.10 %) continues to approach its peak at the end of 2021.
Stock market indices at 8:15 a.m.
Futures contracts Dow Jones increased by +69.00 points (+0.19%) to 36,507.00 points. Futures contracts S&P 500 posted an increase of +6.50 points (+0.14%) to 4,632.50 points. Futures contracts Nasdaq increased by +46.75 points (+0.29%) to 16,283.75 points.
In London, the FTSE 100 rose by +20.86 points (+0.28%) to 7,565.75 points. In Paris, the CAC 40 rose by +3.64 points (+0.05%) to 7,555.17 points. In Frankfurt, the DAX fell by -18.03 points (-0.11%) to 16,776.40 points.
In Asia, the Nikkei of Tokyo increased by +51.90 points (+0.16%) to 32,843.70 points. For his part, the Hang Seng of Hong Kong gained +173.01 points (+1.07%) to 16,374.50 points.
On the oil side, the price of a barrel of WTI American dropped -US$0.42 (-0.59%) to US$70.90. The barrel of North Sea Brent fell by -US$0.48 (-0.63%) to US$75.55.
The context
On the session’s agenda, a publication is particularly expected on Tuesday, that of inflation data in the United States in November, enough to “raise the pressure a notch” on the first day “of the meeting of the American central bank (Fed),” comments John Plassard, investment specialist at Mirabaud.
Previous data showed inflation slowing to 3.2% year-on-year in the United States in October while core inflation, which excludes volatile food and energy prices, was at 4%, the lowest in more than two years.
The markets expect the Fed to still maintain its key rate for its last meeting of the year.
To contain the rise in prices, it has raised its key rates 11 times since March 2022, bringing them to their highest level in 22 years, in a range of 5.25 to 5.50%.
“Weaker than expected figures might boost appetite for US bonds,” leading to further interest rate cuts, “but gains will likely remain limited ahead of the Fed’s decision and economic forecast on Wednesday,” says Ipek Ozkardeskaya, Swissquote analysis.
On the bond market, the yield on 10-year US government bonds stood at 4.19%, compared to 4.23% at the close on Monday. In Europe, the German 10-year bond rate was at 2.21% compared to 2.27% the day before.
AstraZeneca: an acquisition worth up to US$1.1 billion
The British pharmaceutical giant AstraZeneca (+1.68% in London) announced the next acquisition, for a sum of up to 1.1 billion US dollars, of the American biopharmaceutical company Icosavaxspecialized in the development of vaccines, particularly once morest serious respiratory diseases.
Raw materials on the decline
Oil prices fell on Tuesday, weighed down by weak Chinese economic data and the gloomy global economic outlook, while European gas continued its decline to its lowest level in almost three months.
The price of a barrel of North Sea Brent, for delivery in February, lost 0.54% to US$75.62. Its American equivalent, the barrel of West Texas Intermediate (WTI) for delivery in January, fell 0.49% to US$70.97.
On the European natural gas side, the futures contract for Dutch TTFconsidered the European benchmark, fell slightly, moving to 35.15 euros per megawatt hour (MWh), its lowest price since September.
On the foreign exchange market, the euro was up once morest the dollar (0.34%), at US$1.0802 per euro.
The bitcoin gained 1.41%, to US$41,762, but remains down more than 6% in two days.
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