2023-05-17 14:04:01
(Photo: The Canadian Press)
MARKET REVIEWS. European markets did not show a clear trend once once more on Wednesday, maintaining their waiting position, while investors on the Tokyo Stock Exchange were more optimistic, raising the Japanese index to its highest since September 2021.
Stock market indices at 8:30 a.m.
The futures contracts Dow Jones advanced by 129.00 points (+0.39%) to 33,189.00 points.
The futures contracts S&P 500 increased by 12.50 points (+0.30%) to 4,135.50 points.
The futures contracts Nasdaq rose by 18.00 points (+0.13%) to 13,501.25 points.
In London, the FTSE 100 retreated 8.30 points (-0.11%) to 7,742.78 points.
In Paris, the CAC 40 dropped 0.74 points (-0.01%) to 7,405.27 points.
In Frankfurt, the DAX posted an increase of 60.62 points (+0.38%) to 15,958.55 points.
In Asia, the Nikkei Tokyo collected 250.60 points (+0.84%) to 30,093.59 points.
For his part, the Hang Seng Hong Kong ended down 417.68 points (-2.09%) at 19,560.57 points.
On the oil side, the price per barrel of American WTI gained US$0.01 (+0.01%) to US$70.87.
The barrel of North Sea Brent rose US$0.03 (+0.04%) to US$74.94.
The context
After a session in the red on Tuesday, Wall Street was heading for an open higher, around 0.3%, according to the futures contracts of the main indices.
The waiting situation that has lasted for several sessions continues. “Overall, the mixed situation is not enough to give new impetus to European stock markets,” according to Andreas Lipkow, independent analyst.
Inflation in the euro zone over one year in April was well established at 7%, the European body Eurostat confirmed on Wednesday.
Investors are still hanging on to discussions on raising the US debt ceiling, following talks that are linked between Democrats and Republicans. The United States is at risk of payment default from the beginning of June.
Enthusiasm is more palpable in Japan, where the flagship Nikkei index ended its fifth consecutive session on the rise, even ending above 30,000 points, a first since September 2021. The broader Topix index also rose further and is evolving at its highest level for 30 years.
Japan’s economic growth was slightly above expectations in the first quarter (+0.4%), according to an initial government estimate released on Wednesday, thanks in particular to stronger-than-expected consumption in the face of inflation.
The yen also remains weak once morest the dollar, which was worth 137.03 yen once morest 136.39 yen on Tuesday, a favorable exchange rate trend for Japanese export stocks and the Tokyo Stock Exchange in general.
Siemens bottom turbine
The German industrial giant Siemens (+2.29%) tripled its year-on-year net profit at the end of the second quarter of its staggered financial year, thanks to a rise in the value of its shares in Siemens Energy and a jump in its orders, allowing it to raise its annual forecasts. Berenberg recommends retaining the title.
Abandoned Commerzbank
Germany’s second largest bank Commerzbank (-6.21%) missed analysts’ operating profit forecast at the end of March, harmed by the consequences of a legal dispute over loans in Swiss francs, but confirmed its annual objectives.
The insurer Munich Re (+1.15%) confirmed its net profit of 1.27 billion euros at the end of March, already announced at the end of April. The Turkish earthquake in February cost it 600 million euros over the quarter.
JDsports and Elior disappoint
Weighed down by indebtedness dug by the health crisis, the collective catering group Elior fell 22% in Paris, following reporting that a still difficult inflationary environment is affecting its forecasts for the current financial year.
The chain of sports clothing and footwear stores JD Sports fell by 4.76% on the stock market following publishing sharply lower results for the 2022/2023 financial year. Profit fell 61%, partly due to a general increase in operating, administrative and financial costs.
On the side of currencies and oil
Oil was up slightly on Wednesday but remained weak as global recession fears and China’s choppy economic recovery weighed on crude prices.
The Brent de more du Nord for July delivery took 0.25% to $75.10, and the American WTI 0.17% to $70.05.
The euro fell to its lowest in six weeks once morest the dollar, which benefits from its status as a safe haven. The single European currency lost 0.24% to 1.0836 dollars.
The bitcoin yielded 1.20% to 27,630 dollars.
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