2023-06-15 18:02:49
Paris dropped 0.51%, Frankfurt 0.13% and Milan 0.28, while only London gained 0.34%. In Zurich, the SMI gained 0.22%.
European stock markets closed lower on Thursday while Wall Street rose, the markets being undecided with on one side the ECB which raised its key rate and on the other the Fed which decided to maintain its rate.
In Europe, Paris dropped 0.51%, Frankfurt 0.13% and Milan 0.28, while only London gained 0.34%. In Zurich, the SMI gained 0.22%.
On Wall Street, following a lower opening, the three main indices found positive ground: around 4:10 p.m. GMT, the Dow Jones index gained 0.98%, the Nasdaq 0.61% and the broader S&P 500 index 0, 75%.
The session takes place under the sign of the European and American central banks.
The European Central Bank (ECB) announced, unsurprisingly, to raise its key rate by 0.25 percentage points on Thursday, but Christine Lagarde, its president, also warned that other hikes will come during the year. and the next “most likely” in July.
In addition, the ECB raised the pace of price increases expected until 2025: inflation should reach 5.4% in 2023, once morest 5.3% forecast in March, then 3.0% in 2024 and 2, 2% in 2025, not far from the 2% objective targeted in the long term.
After these announcements, the euro gained 0.95% to 1.0933 dollars.
On the other side of the Atlantic, the US Federal Reserve (Fed) decided on Wednesday to take a break and did not raise its rate, which is a first since March 2022 and following ten consecutive increases.
The Monetary Policy Committee has very slightly lowered its inflation forecast this year in the United States, to 3.2% once morest 3.3%, but has, on the other hand, raised its forecast for growth of the product to 1.00% US gross domestic (GDP) for 2023, vs. 0.4% expected in March.
“We realize that the monetary measures have had an effect on the economy because the growth forecasts are quite weak,” said Alexandre Baradez of IG France.
“Investors are projecting this news onto companies: with prospects of sluggish growth, there is no miracle to be expected in an environment where there is less possibility of raising prices”, explains Alexandre Baradez.
On the bond market, the borrowing rates of European states rose: the German 10-year ended at 2.50% once morest 2.44% the day before, the French at 3.01% once morest 2.97%.
In the United States around 4:10 p.m. GMT, on the other hand, ten-year Treasury bills eased to 3.73% once morest 3.78% following having risen sharply at the start of the week.
Italo-Spanish marriage
The number one insurance company in Italy, Generali (-0.11% in Milan), will buy the Spanish insurer Liberty Seguros for 2.3 billion euros, which represents its biggest acquisition for ten years, has he announced Thursday in a press release.
Asos hailed in London
The action of the online clothing retailer Asos soared 14.76% on the London Stock Exchange following a return to profitability in the third quarter of its staggered 2022/2023 financial year, despite a decline in sales.
Investors welcomed the strategy of returning to profitability and reducing inventories.
In Stockholm, the clothing giant H&M also gained 3.67%.
On the raw materials side
Natural gas prices approached 50 euros per megawatt hour on Thursday, their highest since early April, pushed since early June by the drop in supplies from Norway, due to leaks and maintenance on many installations. .
Around 4:05 p.m. GMT, the price of the Dutch TTF futures contract, considered the European benchmark, had settled and only rose by 3% to 39.60 euros per megawatt hour (MWh).
Oil prices rebound Thursday. The barrel of Brent for delivery in August advanced by 2.04% to 75.24 dollars and that of American WTI, with maturity in July, by 2.97% to 70.30 dollars.
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