2024-01-12 13:34:30
(Photo: Getty Images)
MARKET REVIEWS. The European stock markets are up on Friday, making up some of the delay accumulated during the week on Wall Street, helped by the fall in interest rates and not being handicapped by the rise in oil prices.
Stock market indices at 7:30 a.m.
Futures contracts Dow Jones dropped -187.00 points (-0.49%) to 37,740.00 points.
Futures contracts S&P 500 decreased by -17.00 points (-0.35%) to 4,798.50 points.
Futures contracts Nasdaq fell -76.50 points (-0.45%) to 16,889.75 points.
In London, the FTSE 100 posted an increase of +44.80 points (+0.59%) to 7,621.39 points.
In Paris, the CAC 40 showed an increase of +48.52 points (+0.66%) to 7,436.14 points.
In Frankfurt, the DAX collected +83.85 points (+0.51%) to 16,630.88 points.
In Asia, the Nikkei from Tokyo collected +527.25 points (+1.50%) to 35,577.11 points.
For his part, the Hang Seng of Hong Kong decreased by -57.46 points (-0.35%) to 16,244.58 points.
On the oil side, the price of a barrel of American WTI showed an increase of +US$2.62 (+3.64%) to US$74.64.
The barrel of North Sea Brent rose +US$2.71 (+3.50%) to US$80.12.
The context
According to Pierre Veyret, analyst at ActivTrades, European stock markets are “supported by positive macroeconomic data”.
On Friday, inflation in Spain and France in December were confirmed by their second estimate.
European Central Bank (ECB) President Christine Lagarde also said on Thursday that euro zone key interest rates had reached their peak, following rising in the face of high inflation last year. She also confirmed that the rate cut was “the logic”, but refused to give a date.
For the ECB as for the American Federal Reserve, the markets are much more in a hurry than the central bankers and are banking on rate cuts from the March meetings.
Other good news on the economic front, the United Kingdom’s gross domestic product (GDP) rebounded by 0.3% in November following a drop of the same magnitude the previous month, a sign of the resilience of the British economy.
The progression of European indices, however, does not compare with Tokyo, which gained 1.50% over the session, thanks to the acclaimed results of Uniqlo, and 6.59% over the week, its best performance in almost two years. .
In China, the Shanghai Stock Exchange lost 0.35%, that of Hong Kong 0.16%.
Investors are also starting to look to company results in the United States and to company announcements ahead of their results in Europe.
In the United States, insurer UnitedHealth, banks JP Morgan, Bank of America, Citi, asset manager BlackRock and airline Delta Air Lines are expected on Friday.
Before that, the futures contract for the three main indices suggested a slightly lower opening, even if, over the week, performances were still a little better than in Europe.
Burberry plunges luxury
The British luxury group Burberry fell by more than 9.70% in London following updating its financial forecasts for the year.
“The situation was particularly difficult in the United States, where like-for-like sales fell by 15%,” notes Bernstein analyst Luca Solca.
In Paris, LVMH yielded 1.55%, Dry 2,26% et Hermes 0,11%.
Grifols does not convince
The price of the Spanish pharmaceutical giant Grifolsaccused of accounting manipulation by the activist fund Gotham City Research, continued its fall on Friday, with investors remaining skeptical of the company’s defense, which refutes any irregularity.
It fell 9.29%, having lost more than 40% of its value since the start of the week.
Oil rises with geopolitics
Crude prices move sharply higher on Friday as the market fears an escalation of tensions in the Middle East following US and UK airstrikes once morest Houthi rebels in Yemen might lead to supply disruptions in black gold.
The barrel of Brent de more du Nord took 3.95% to US$80.47, and that of WTI 4,08% à 74,96 $US.
The euro fell 0.17% once morest the dollar, to US$1.0953 per euro.
The bitcoin fell 0.11% to US$46,110.
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