2023-06-29 12:33:20
(Photo: Getty Images)
MARKET REVIEWS. World stock markets, cautious on Thursday, await data on inflation in Germany and growth in the United States, while central banks maintain their offensive tone in the face of rising prices.
Stock indices
Global markets were mixed on Thursday morning, after the heads of major central banks warned that they will have to keep interest rates high to fight inflation.
Frankfurt was stable at the start of the session in Europe. London lost 0.2% and Paris added the same margin.
In New York, before the markets open, the average Dow Jones of industrial stocks and the broader index S&P 500 progressed by less than 0.1%.
In Asia, the Nikkei 225 added 0.1% in Tokyo. The scholarship of Shanghai fell 0.2% and the Hang Seng plunged 1.2% in Hong Kong. Sydney remained stable and Seoul lost 0.6%.
On the New York Commodity Exchange, the price of oil dropped 31 cents US to US$69.25 a barrel.
The context
Unlike Western central banks, the Japanese central bank has maintained its ultra-loose monetary policy, which weakens the currency and favors export-oriented Japanese companies.
On Wednesday, the President of the American Central Bank Jerome Powell did not rule out the possibility of rate hikes “during two successive meetings” from July, further pushing back the prospect of the peak of the institution’s key rates.
Investors “are struggling to determine when these higher rates will affect the different economic strata,” said Pierre Veyret, analyst at ActiveTrade.
They hope that inflation in the euro zone and the United States on Friday will continue to decelerate to reduce the pressure on central bankers. Thursday will be published the inflation index for Germany for June (first estimate).
They will also learn about the latest estimate of US growth in the first quarter. It had been revised upwards to 1.3% at an annualized rate, against 1.1% initially announced.
On the bond market, government rates in the United States and Europe rose significantly. The US 10-year bond had an interest rate of 3.76%, down from 3.71% on Wednesday.
Renault gives itself margins
Renault announced Thursday to revise its profitability forecast for 2023 upwards thanks to sales focused on the high end. The action jumped 6.17%.
Stellar also took 3.31%, Volvo 3,32%, BMW 1,15%.
Dress of light for H&M
The action of the Swedish clothing giant Hers et Mauritz jumped 14% after the publication of its better-than-expected second quarter results, although down from the previous year. The company also reported a 20% drop in inventory.
Casino at its lowest
The action of Casino hit an all-time low on Thursday with the prospect of “massive dilution” for shareholders under the company’s colossal debt restructuring plan. It fell by more than 30% at mid-session and just like its parent company Rallye, which will lose control of Casino at the end of the operations.
Stable US dollar
Oil prices were stabilizing after their rebound on Wednesday thanks to the announcement of a massive reduction in US crude inventories.
The barrel of Brent de more du Nord was worth US$74.04 (+0.31%), that of American WTI 69,60 $US (+0,06%).
The American dollar was stable against the euro, at US$1.0916 per euro.
The bitcoin rose by 1.13% to 30,440 euros.
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