2023-07-21 12:33:09
(Photo: Getty Images)
MARKET REVIEWS. Global markets fluctuate measuredly on Friday, during a session driven by only a few corporate results, pending announcements from central banks next week.
Stock indices
The futures contracts Dow Jones collected +7.00 points (+0.02%) to 35,408.00 points. The futures contracts S&P 500 rose by +10.50 points (+0.23%) to 4,576.00 points. The futures contracts Nasdaq collected +69.50 points (+0.45%) to 15,661.75 points.
In London, the FTSE 100 rose by +12.90 points (+0.17%) to 7,658.95 points. In Paris, the CAC 40 increased by +10.91 points (+0.15%) to 7,395.82 points. In Frankfurt, the DAX posted a decline of -93.81 points (-0.58%) to 16,110.41 points.
In Asia, the Nikkei Tokyo fell -186.27 points (-0.57%) to 32,304.25 points. For his part, the Hang Seng Hong Kong collected +147.24 points (+0.78%) to 19,075.26 points.
On the oil side, the price per barrel of American WTI fetched +US$1.00 (+1.32%) to US$76.65. The barrel of North Sea Brent was up +US$1.02 (+1.28%) to US$80.66.
The context
On Thursday, the Nasdaq fell 2% following disappointing results from Netflix, Tesla and TSMC. On the other hand, the Dow Jones had recorded its ninth session of rise in a row, a first since September 2017, taking advantage of an attraction for values abandoned since the beginning of the year, some of which are said to be defensive, that is to say less sensitive to the economic situation.
Christian Parisot, of broker Aurel BGC, observes “a day off. Investors will already be looking to next week, which will be marked by the meeting of the monetary policy committees of the major central banks” and by new corporate results.
In Asia, the place of Tokyo to it lost 0.57%, weighed down as the day before by the values of the semiconductor sector.
Inflation in Japan accelerated in June, to 3.3% year on year excluding fresh produce, as expected by economists.
The yen fell in reaction, the market considering that inflation has probably peaked and that the Bank of Japan should not deviate from its ultra-accommodative policy.
The Japanese currency fell 1.18% once morest the dollar at 141.75 yen per dollar and lost 1.19% once morest the euro at 157.77 yen per euro.
As for the Chinese stock markets in Shanghai (-0.06%) and Shenzhen (-0.05%), they fell slightly following China unveiled several measures on Friday to revive growth, in particular by supporting the automotive sector and encouraging the purchase of electronic products. The Hong Kong market for its part resisted (+0.78%).
Distress among pharmaceutical suppliers
The Swiss group Lonzaa supplier for the pharmaceutical industry, fell 10.92% in Zurich following the publication of sales slightly below expectations in the first half, held back by the difficulties of financing of the biotech companies, which led it to cut in its margin targets.
Sartorius Stedim Biotech (SSB), a supplier of materials for the biopharmaceutical sector, recorded a drop in its activity and its profitability in the first half of the year due to “temporarily weak demand”. However, demand should “gradually pick up once more in the second half of 2023”, according to René Fáber, group managing director.
Its action gained 1.52% in Paris and that of its parent company, listed in Frankfurt, yielded 0.89%. These results were expected following the announcement in June of lowered sales forecasts for 2023, which had caused their prices to fall.
SAP, dark cloud
The software giant SAP fell 4.02% following slashing its forecast for the year for cloud revenue. Its operating profit, however, jumped nearly 30% in the second quarter (in international IFRS standards), it announced Thursday evening.
On the oil, foreign exchange and bond side
Oil progressed pushed by the production cuts of the two heavyweights of the Organization of the Petroleum Exporting Countries and their allies (OPEC+).
The barrel of North Sea Brent for September delivery took 1.13% to US$80.54.
Its American equivalent, the barrel of West Texas Intermediate (WTI)for delivery on the same date, of which it is the first day of use as a benchmark contract, gained 1.31% to US$76.64.
Following a lower-than-expected increase in the Turkish central bank’s key rate, the turkish lira still suffered (-0.65%) once morest the dollar, at 26.94 pounds to the dollar.
The euro was stable at US$1.1130.
The bitcoin advanced 0.11% to US$29,770.
On the bond market, sovereign rates were stable following rising the day before.
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