2023-04-26 14:01:23
(Photo: The Canadian Press)
MARKET REVIEWS. World stock markets are once more timid on Wednesday due to concerns regarding growth and a rain of corporate results on both sides of the Atlantic.
Stock market indices at 8:30 a.m.
The futures contracts Dow Jones gained 54.00 points (+0.16%) to 33,706.00 points. The futures contracts S&P 500 rose 7.00 points (+0.17%) to 4,100.25 points. The futures contracts Nasdaq rose by 114.75 points (+0.90%) to 12,924.25 points.
In London, the FTSE 100 posted a decline of 28.88 points (-0.37%) to 7,862.25 points. In Paris, the CAC 40 retreated 77.42 points (-1.03%) to 7,454.19 points. In Frankfurt, the DAX yielded 103.84 points (-0.65%) to 15,768.29 points.
In Asia, the Nikkei Tokyo dropped 203.63 points (-0.71%) to 28,416.47 points. For his part, the Hang Seng Hong Kong rose 139.37 points (+0.71%) to 19,757.27 points.
On the oil side, the price per barrel of American WTI retreated by US$0.50 (-0.65%) to US$76.57. North Sea Brent was down US$0.68 (-0.84%) at US$79.92.
The context
World stock markets are once more timid on Wednesday due to concerns regarding growth and a rain of corporate results on both sides of the Atlantic.
European stock markets opened lower, the Paris Stock Exchange, where nearly a quarter of companies have published their results since Tuesday’s close, fell by 0.84%, Frankfurt by 0.74%, London by 0.36 %, Milan by 0.94%.
After rising sharply following the banking shock in March, until reaching record highs on the French index, European equities have generally been treading water since mid-April.
For John Plassard, investment specialist at Mirabaud, “the rebound in European equities since the start of the year is pushing more and more major American institutions to take profits”.
In Asia, the Tokyo Stock Exchange ended down 0.71%, following the worst session for a month on Wall Street (S&P 500 -1.58%, Nasdaq -1.98%) following the plunge of the American bank First Republic (-49%), rekindling concerns in the financial sector.
The results of American technology companies, following the close of markets, however, reassured investors: both Microsoft and Alphabet saw their share price progress in electronic trading following the session following their publication.
The best atmosphere on technology was seen on the Hong Kong index, very exposed to this sector, which rose by 0.70% in the last exchanges. Shanghai fell 0.02%.
On the bond market, the interest rates of States in Europe extend their sharp declines on Tuesday, a sign of investor risk aversion.
Kering less brilliant in luxury
The luxury group Dry regained some breath in the first quarter following a difficult end to 2022, particularly for its flagship brand Gucci, but its sales only increased by 2%, a performance much lower than that of its competitors in the sector. The action fell 2% in Paris.
Under (Tele)performance
The action of Teleperformance fell by more than 14% on the Paris Stock Exchange following the company lowered its revenue growth target for 2023, between 8 and 10% once morest 10% initially planned. “Turbulence persists,” say Deutsche Bank analysts. Over the year, the company lost more than 20% of its value, the worst performance of the CAC 40.
In Paris once more, Dassault Systèmes fell by 7.18% following its results which showed a drop in its margin.
Iberdrola full of energy
The Spanish renewable energy giant Iberdrola (+0.68%) posted a net profit up 40% in the first quarter, thanks to solid results in Spain, the United Kingdom and the United States, where the group wishes to accelerate its establishment.
THURSDAY, TotalEnergies et Repsol will give their performance for the first quarter.
End of the Covid effect on health
In the field of health, the British GSK (+0.12%) saw its net profit fall by 17% while the turnover of the French Eurofins (+1.32%) fell by 10.5% and that of Switzerland Roche (-1.74%) by 7%, the three companies highlighting the decline in their products in connection with the Covid-19 pandemic compared to the first quarter of 2022.
On the currency and commodities market
The oil picked up a little following the sharp drop the day before, caused by fears regarding economic activity. The barrel of Brent from the North Sea rose by 0.52% to 81.19 dollars and that of American WTI by 0.70% to 77.61 dollars.
The price of natural gas in Europe was still below 40 euros per megawatt hour (39.00 euros, -2.09%).
The euro returned to 1.1020 dollars (+0.43%), the pound close to 1.2460 dollars (+0.38%).
The bitcoin rose 1.31% to $28,350.
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