2024-01-16 18:33:49
(AP Photo/Ahn Young-joon)
MARKET REVIEWS. Markets fell in Europe and Asia on Tuesday, as concern over China’s prospects cast a shadow over regional markets.
Stock market indices at 7:30 a.m.
And Europe, Frankfurt fell 0.5% and Paris yielded 0.3%. The FTSE 100 index of London slipped 0.4%.
In Asian markets, the Nikkei 225 of Tokyo ended a winning streak since the New Year that had taken it to its highest level in 34 years. It lost 0.8%.
Hong Kong for its part lost 1.9%, while Shanghai gained 0.3%.
Elsewhere in Asia, the Kospi South Korean slipped 0.8% and the S&P/ASX 200 Australia lost 1.1%.
The price of a barrel of North Sea Brentfor delivery in March, was stable at 78.16 US dollars.
Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in February, fell 0.61% to 72.24 US dollars.
Context
On Monday, the European markets had fallen, “driven by the comments of several political leaders of the European Central Bank who strongly rejected the idea of a reduction in interest rates during the first half of this year”, comments Michael Hewson, CMC Markets analyst.
“Bundesbank President Joachim Nagel said markets were too optimistic regarding the prospect of a rate cut and that the subject might have to wait until the summer to be discussed,” reports the ‘analyst, adding that Robert Holzmann, member of the ECB council, affirmed “that the markets should not count on rate cuts in 2024”.
On the bond market, interest rates on the debts of European states are stabilizing following their rise the day before. That of the German state bond stood at 2.21% compared to 2.23% at Monday’s close.
For Ipek Ozkardeskaya, analyst at Swissquote Bank, “the first quarter of this year will be marked by the realization that it is too early for central banks to cut interest rates, unless something really serious happens. happen”.
In addition, geopolitical tensions are part of the reasons for investor caution. Attacks on ships continue in the Red Sea: an American cargo ship was hit on Monday by a missile fired by the Houthis off the Yemeni city of Aden, a “response” according to the rebels to the strikes by American and British forces carried out on Friday and Saturday on Yemen and targeting Houthi positions.
However, these tensions no longer fuel a rise in oil prices.
Lindt delights the markets
The Swiss chocolatier Lindt & Sprüngli revealed on Tuesday a turnover better than expected for 2023, boosted by sales of pralines and price increases to compensate for the jump in cocoa prices.
Its shares climbed 4.24% in Zurich.
Hugo Boss in the locker room
German clothing group Hugo Boss reported operating profit up 22% in 2023, but slightly below analyst forecasts, and revenue up 18%, reaching the “record” amount of 4.2 billion euros, thanks to strong demand despite “a difficult global context,” the group said in a preliminary results press release on Tuesday.
Its stock fell 5.76% in Frankfurt.
Euro falling, bitcoin stable
The euro lost 0.31% once morest the US dollar, to 1.0916 dollars per euro.
Bitcoin was stable (+0.09%) at 42,724 US dollars.
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