2023-11-10 17:20:06
(Photo: Getty Images)
MARKET REVIEWS. World stock markets fell on Friday, penalized by the rise in bond rates, particularly following a speech by the president of the American Central Bank (Fed).
Stock market indices at 7:30 a.m.
Futures contracts Dow Jones gained +87.00 points (+0.26%) to 34,031.00 points. Futures contracts S&P 500 posted an increase of +7.25 points (+0.17%) to 4,369.50 points. Futures contracts Nasdaq rose by +0.75 points (+0.00%) to 15,256.75 points.
In London, the FTSE 100 posted a decline of -97.57 points (-1.31%) to 7,358.10 points. In Paris, the CAC 40 retreated -71.51 points (-1.01%) to 7,042.15 points. In Frankfurt, the DAX fell by -103.23 points (-0.67%) to 15,249.31 points.
In Asia, the Nikkei from Tokyo dropped -78.35 points (-0.24%) to 32,568.11 points. For his part, the Hang Seng Hong Kong closed down -308.03 points (-1.76%) at 17,203.26 points.
On the oil side, the price of a barrel of American WTI rose by +US$0.85 (+1.12%) to US$76.59. The barrel of North Sea Brent gained +US$0.93 (+1.16%) to US$80.94.
The context
“This week was marked by relative tranquility on the macroeconomic data side (…) the calm was suddenly broken by the intervention of Jerome Powell, suggesting that the Fed might consider a further increase in key rates,” summarize the analysts at Natixis.
“We will not hesitate” to further raise key rates “if necessary” in the face of high inflation, he warned.
Interest rates rose sharply in Europe, in the wake of those in the United States on Thursday: the interest rate on the German 10-year bond rose from 2.64% on Thursday at the close to 2.71%, its French equivalent of 3.23% to 3.30%.
The main indicator in Europe, the United Kingdom recorded zero growth in the third quarter following an increase of 0.2% in GDP in the previous quarter. The pound retracted slightly (-0.11% to US$1.22) following this publication, which does not portend future interest rate increases from the Central Bank.
After the opening of Wall Street, confidence among the American consumer is expected.
Hangover for Diageo
The British drinks giant Diageo plunged 13.80% in London following warning that its prospects were worse than initially announced for Latin America and the Caribbean.
In Paris, Pernord Ricard (-4,93%) et Remy Cointreau (-5.12%) were also penalized.
Le fer d’alliance
The leading European insurer Allianz took 1.82% following reporting on Friday a net profit group share of 2.0 billion euros in the third quarter, down 29.5% due to its highest weighting in ten years natural disasters. However, it confirmed its operating profit forecasts.
On the other hand, in Paris, the reinsurer Scor fell 5.68% following results below expectations.
Richemont slows down
The Swiss luxury giant Richemontowner of the jewelry house Cartier, fell 7.51%, following publishing slowed growth in the first half, confirming the trend for the entire luxury sector.
The entire sector was declining in Europe, from Swatch Group (-5.84%) to LVMH (-4.02%) via Burberry (-3.95%) and Moncler (-3.90%).
Leonardo fills up with orders
The Italian aeronautics and defense giant Leonardo saw its net profit fall over the first nine months of the year, but recorded a sharp increase in its orders in a context of strong geopolitical tensions in the world. Its action gained 4.11% and led BAE Systems (+2.02%) in London and Thales (+1.57%) in Paris.
Oil rises
Oil prices rose slightly on Friday, continuing the rebound that began the day before, driven by comments from Saudi Arabia, whose market anticipates a further extension of production cuts. Prices remain down sharply, by more than 5%, over the week.
The barrel of Brent was worth US$80.91 (+1.12%) and that of American WTI 76,58 $US (+1,10%).
The euro took 0.06% to US$1.0675.
The bitcoin rose 1.03% to US$36,920.
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