2024-01-26 19:25:33
(Photo: Getty Images)
MARKET REVIEWS. World stock markets move in mixed order on Friday, European indices are focused on company results while in the United States, caution prevails while waiting for the American inflation indicator before the next meeting of the Reserve federal (Fed).
Stock market indices at 7:30 a.m.
Futures contracts Dow Jones fell -14.00 points (-0.04%) to 38,196.00 points. Futures contracts S&P 500 decreased by -2.25 points (-0.05%) to 4,921.00 points. Futures contracts Nasdaq fell -50.00 points (-0.28%) to 17,584.50 points.
In London, the FTSE 100 gained +102.36 points (+1.36%) to 7,632.09 points. In Paris, the CAC 40 advanced +166.22 points (+2.23%) to 7,630.42 points. In Frankfurt, the DAX increased by +52.00 points (+0.31%) to 16,958.92 points.
In Asia, the Nikkei of Tokyo fell -485.40 points (-1.34%) to 35,751.07 points. For his part, the Hang Seng of Hong Kong dropped -259.73 points (-1.60%) to 15,952.23 points.
On the oil side, the price of a barrel of American WTI lost -US$0.71 (-0.92%) to US$76.65. THE barrel of Brent North Sea prices fell by -US$0.52 (-0.63%) to US$81.91.
The context
“The possibility of a reduction in the ECB’s key rates before June has not been completely ruled out” by Christine Lagarde, president of the institution, and this caused “a drop in bond rates” the day before, underlines Michael Hewson , analyst at CMC Markets.
On the bond market, as on Thursday, the German bond rate with a 10-year maturity was moving at 2.28%, compared to 2.23% two days earlier.
On the macroeconomic side, the American PCE inflation index is “the next key indicator before the meeting of the American central bank next week,” comments Michael Hewson, analyst at CMC Markets.
On Wall Street, futures contracts for the three main indices fell between 0.13% and 0.53%. The monetary committee of the American central bank (FOMC) is due to meet next Wednesday. If a maintenance at the current level of the institution’s key rates is anticipated, the Fed should however lower its rates during 2024.
“Investors are not sure that the Fed’s first rate cut will come in March — the probability of a cut in March being around 50%, while a cut in May” carries the majority, notes Ipek Ozkardeskaya , analyst at Swissquote Bank.
Record 2023 results for LVMH
The world number one in luxury LVMH jumped nearly 12% in Paris following publishing new record results in 2023 with 86.2 billion euros in sales and 15.2 billion in net profit, and announcing the upcoming entry of two sons of Bernard Arnault to the board of administration.
Elsewhere on the Parisian coast, Christian Dior granted itself 11.59%, Dry advanced by 4.79% and Hermes of 3.61%.
In the luxury sector, Italian Salvatore Ferragamo, which started the session in decline, benefited from the momentum of LVMH and advanced 7.33%. The luxury house announced a turnover down 7.6% in 2023, due to the fall in its sales in Asia, its main market, but analysts welcome a result that is still above anticipations.
In Milan, Moncler gained 6.32%. In London, Burberry took 2.78%. In Zurich, Richemont gained 5.04% and Groupe Swatch 2,91%.
Lloyds is scaling down its workforce
The British bank Lloyds (+1.88%) is cutting nearly 800 net jobs, cutting into the workforce of its agencies, with the vast majority of its customers increasingly using online banking, according to a press release on Thursday.
Lonza: still looking for a CEO
The Swiss group Lonza (+13.48% in Zurich), shaken last year by the loss of its contract with Moderna, is still looking for a new general director, but announced a change of president on Friday alongside its annual results.
The dollar in decline
The dollar falls once morest the main currencies, before the publication of inflation data in the United States.
The greenback fell once morest the single currency, which gained 0.23% to US$1.0871 per euro. The dollar also fell once morest the British currency, which rose 0.26% to US$1.2741 per pound.
The price of a barrel of North Sea Brent, for delivery in March, fell 0.50% to US$82.02. Its American equivalent, the barrel of West Texas Intermediate (WTI)for delivery the same month, dropped 0.80% to US$76.74.
The bitcoin advanced 3.22% to US$41,191.26.
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