2023-10-30 14:56:36
(Photo: The Canadian Press)
MARKET REVIEWS. Global markets were mixed Monday morning, awaiting the U.S. Federal Reserve’s policy rate decision later this week.
Stock market indices at 8:00 a.m.
London, Frankfurt et Paris added between 0.4% and 0.7% at the start of the session in Europe.
HAS New Yorkbefore the markets opened, the average Dow Jones industrial stocks rose by 0.3% and the broader index S&P 500 of 0.5%.
In Asia, the Nikkei 225 fell by 1% to Tokyo. The scholarship of Shanghai advanced by 0.1% and the Hang Seng was stable at Hong Kong. Sydney slipped 0.8% and Seoul a pris 0,3 %.
On the New York Commodity Exchange, the price of oil dropped US$1.42 to US$84.12 per barrel.
The context
The next sessions will be busy for investors, with several central bank meetings, including that of Japan on Tuesday and that of the United States which ends on Wednesday, but also data on growth and inflation in the euro zone and on employment in the USA.
As of Monday, they learned that Germany saw its gross domestic product fall by 0.1% in the third quarter, compared to the previous quarter. However, the performance is a little better than that anticipated by economists.
Data on inflation in Germany is expected mid-afternoon.
Company results will also continue to show throughout the week.
Accident at ArcelorMittal mines in Kazakhstan
The mining group ArcelorMittal (MT) fell 4.67% after an accident in one of the mines of its subsidiary in Kazakhstan on Saturday resulting in at least 45 deaths. ArcelorMittal confirmed on Saturday a preliminary agreement to transfer ownership of its subsidiary to the state.
The trend clearly went against other companies in the sector, such as Rio Tinto (RIO, +1.38%), BHP Group (BHP, +1,34%)or Eramet (ERMAF, +5.59%) in Paris.
Clariant buys in Canada
The Swiss chemist Clariant (CLRS.F, +3,23%) is diversifying into cosmetic ingredients by purchasing the Canadian company Lucas Meyer Cosmetics for US$810 million from the American company International Flavors & Fragrances (IFF), with analysts deeming this acquisition sensible, but “expensive”.
Gold falls back below 2000 dollars
Gold fell back below 2,000 US dollars ($US) per ounce (-0.59% to US$1,994.55), a threshold crossed on Friday for the first time since May 2023.
The euro rose 0.14% against the dollar, to US$1.058 around 7:30 a.m.
Oil prices are falling despite the fighting inside the Gaza Strip, as investors focus on numerous economic data coming this week that could affect demand.
Around 7:25 a.m., the barrel of North Sea Brent for delivery in December lost 1.14%, to US$89.45.
Its American equivalent, the barrel of West Texas Intermediate (WTI) for delivery the same month, slipped 1.34% to US$84.39.
On the bond market, the interest rates of States in Europe were stable while those of the United States rose significantly.
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