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MARKET REVIEWS. The European stock markets, the few financial places open on Monday, were moving up sharply, putting behind them a gloomy year 2022 thanks to the fall in bond rates.
Stock indices at 8:00 a.m.
The futures contracts Dow Jones rose by 30.00 points (+0.09%) to 33,315.00 points. The futures contracts S&P 500 posted an increase of 7.00 points (+0.18%) to 3,868.00 points. The futures contracts Nasdaq posted an increase of 19.50 points (+0.18%) to 11,041.75 points.
In London, the FTSE 100 is closed. In Paris, the CAC 40 rose 98.29 points (+1.52%) to 6,572.05 points. In Frankfurt, the DAX rose by 126.94 points (+0.91%) to 14,050.53 points.
In Asia, the Nikkei of Tokyo and the Hang Seng Hong Kong are also closed.
On the oil side, the price per barrel of American WTI was up US$0.25 (+0.31%) to US$80.51. The barrel of North Sea Brent gained US$0.32 (+0.37%) to US$86.23.
The context
In Asia, neither Tokyo nor the Chinese places started their year. Wall Street will also be unemployed.
The only high-profile release on Monday, the eurozone manufacturing PMI leading activity indicator, came in line with expectations, showing a pullback. In detail, that in France contracted a little less than expected, that of Germany a little more.
The news will ramp up throughout the week, culminating in the monthly report on employment in the United States on Friday.
Ahead of that, the minutes of the US Federal Reserve’s latest monetary policy meeting will be released on Wednesday.
“Given the lack of speech from Fed officials since the December meeting (this publication) will also be an important element” in gauging the evolution of monetary policy in the coming months, said Stephen Innes, of Spi AM.
On the bond market, sovereign rates in Europe fell, following ending 2022 at their highest in more than 10 years, in France and Germany. The 10-year French fell to 2.97%, once morest 3.09% on Friday at the close.
The Italian bank Monte dei Paschi di Siena (MPS) assured Monday that thanks to “the successful conclusion” of its capital increase of 2.5 billion euros, the “significant doubts” regarding the continuation of its activity had been lifted.
These statements aimed at reassuring investors caused the stock to soar on the Milan Stock Exchange, where it rose 9.06% to 2.10 euros.
The sector was well oriented overall, with Deutsche Bank at +3.66%, Societe Generale at +2.85% or ING at +3.17%.
As for natural gas, the European benchmark, the Dutch TTF contract for delivery in February, continued to fall and lost 2.71% to 74.25 euros per megawatt hour. It is at its lowest level since the outbreak of war in Ukraine at the end of February.
The euro was down 0.12% once morest the dollar, at US$1.0684.
The bitcoin advanced 0.72% to US$16,720.
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