2023-11-28 15:01:03
(Photo: Getty Images)
MARKET REVIEWS. World markets are generally moving lower on Tuesday, favoring caution before the publication of economic indicators eagerly awaited by investors, who will also be watching speeches from central bankers.
Stock market indices at 8:30 a.m.
Futures contracts Dow Jones lost -30.00 points (-0.08%) to 35,343.00 points. Futures contracts S&P 500 lost -9.75 points (-0.21%) to 4,551.25 points. Futures contracts Nasdaq fell by -42.25 points (-0.26%) to 15,966.50 points.
In London, the FTSE 100 fell -30.22 points (-0.41%) to 7,430.48 points. In Paris, the CAC 40 fell by -45.43 points (-0.63%) to 7,220.06 points. In Frankfurt, the DAX lost -26.51 points (-0.17%) to 15,939.86 points.
In Asia, the Nikkei of Tokyo closed down -39.28 points (-0.12%) at 33,408.39 points. For his part, the Hang Seng Hong Kong lost -170.92 points (-0.98%) to 17,354.14 points.
On the oil side, the price of a barrel of American WTI advanced +US$0.61 (+0.81%) to US$75.47. The barrel of North Sea Brent collected +US$0.61 (+0.76%) to US$80.59.
The context
The shares of luxury companies, very exposed to the Chinese market, fell sharply. LVMH lost 2.25% in Paris, Dry 2,72%, Moncler 1.87% in Milan and Burberry 2.93% in London. HSBC has also reduced its share price target for several groups in the sector.
On Tuesday investors will focus on consumer confidence figures in the United States in November and on speeches from members of the American Federal Reserve (Fed).
“Concerning consumers, a slight drop in spending is seen as a positive sign that rate increases are having an effect,” comments Neil Wilson, analyst at Finalto, who adds nuance and adds that this phenomenon should not “last too long.” » nor that it is “too pronounced”.
Fed Governors Christopher Waller and Michelle Bowman, as well as Chicago Fed President Austan Goolsbee, are also due to speak on Tuesday, a new opportunity for markets to try to gauge the central bank’s intentions to looking for signs of rate cuts soon.
Also on the week’s agenda is the second estimate of American growth in the third quarter on Wednesday, November inflation in the euro zone and October inflation in the United States on Thursday (PCE index).
On the bond market, sovereign yields fell significantly on Monday. The interest rate on the ten-year US bond was stable compared to Monday, at 4.39%, as was its equivalent for Germany, at 2.54%.
“There was no obvious catalyst” to justify the “slight risk aversion” and the “fall in bond yields, however some weak US data did not really help investor morale yesterday,” analysts comment. from Deutsche Bank in a note.
Easyjet regains altitude
The British airline Easyjet (+3.53% in London) returned to profit in its 2022/2023 financial year after three years of losses following the coronavirus pandemic.
Fallback of arGEN-X
The Belgian-Dutch biotechnology company arGEN-X fell 10.99% in Brussels after publishing disappointing results on Tuesday in a study testing the effectiveness of its Vyvgart treatment against autoimmune thrombocytopenia (ITP), an autoimmune disease characterized by a drop in the number of platelets in blood and an increased risk of hemorrhage.
Oil on the rise, gold and euro stabilize
Oil prices were rising again, pushed up by rumors surrounding potential production cuts across the OPEC+ group,
A barrel of Brent from the North Sea, for delivery in January, gained 0.95% to US$80.74 and a barrel of West Texas Intermediate (WTI), for delivery in the same month, increased by 1.07% to $75.66.
Gold continues to move at a level close to its highest since mid-May. An ounce of gold was worth US$2,015.62, almost stable (+0.07%) compared to the day before.
“The combination of falling long-term yields and a cheaper US dollar continues to push up the price of an ounce of gold,” comments Ipek Ozkardeskaya, analyst at Swissquote Bank.
On the foreign exchange market, the euro was stable (+0.04%) against the dollar, at US$1.0958.
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