Economy

2024-02-01 23:55:02
Charles Gorintin, co-founder and CTO of Alan, was Audrey Tcherkoff’s guest on Impact by Tcherkoff, this Thursday, February 1. He returned to the reasons for his investment in the democratization of complementary health insurance, the impact of AI on the world and Alan’s solutions to reduce discrimination in tech, on BFM Business. Find the show every Thursday and listen to it once more as a podcast.
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#Impact #Tcherkoff #Charles #Gorintin #cofounder #CTO #Alan

2024-02-01 22:38:31

(Photo: 123RF)

MARKET REVIEWS. World stock markets are struggling on Thursday, with central banks persisting in not wanting to relax their guard too soon in the face of inflation and with company results poorly received in Europe.

Stock market indices at 7:30 a.m.

Futures contracts Dow Jones gained +55.00 points (+0.14%) to 38,335.00 points. Futures contracts S&P 500 advanced +21.00 points (+0.43%) to 4,891.50 points. Futures contracts Nasdaq rose by +101.00 points (+0.59%) to 17,343.25 points.

In London, the FTSE 100 rose by +24.89 points (+0.33%) to 7,655.46 points. In Paris, the CAC 40 dropped -54.81 points (-0.72%) to 7,601.94 points. In Frankfurt, the DAX decreased by -13.94 points (-0.08%) to 16,889.82 points.

In Asia, the Nikkei of Tokyo closed down -275.25 points (-0.76%) at 36,011.46 points. For his part, the Hang Seng Hong Kong gained +81.14 points (+0.52%) to 15,566.21 points.

On the oil side, the price of a barrel of American WTI gained +US$0.56 (+0.74%) to US$76.41. The barrel of North Sea Brent gained +US$0.17 (+0.21%) to US$81.88.

The context

Central banks continue to drive markets with the Bank of England meeting on Thursday. It decided to leave its rates unchanged, showing itself to be very reserved regarding the possibility of lowering them.

Earlier, the central bank of Sweden announced on Thursday the maintenance of its key rate at 4%, but mentioned its reduction “as early as this semester”.

On Wednesday, the American Central Bank “redoubled its efforts to refute forecasts of rate cuts from March”, the date targeted by the markets for several months, explains Paolo Zanghieri, economist at Generali Investments. “Six months of good inflation figures are not enough” for the Fed to “claim victory” according to him.

A sign that the fight once morest inflation has not yet been won in the euro zone either, the rate of price increases in January slowed down less than expected and stood at 2.8%.

In detail, “the stagnation of inflation in services will reassure the European Central Bank in the idea that it is necessary to be prudent,” estimates Juliette Cohen, member of the CPU AM strategy team.

On the bond market, interest rates in European countries and the United States were rising. The American borrowing rate rose to around 3.94%, compared to 3.91% on Wednesday.

After Wall Street closes, new technology stock giants, such as Apple, Amazon and Meta, must publish their annual results.

European banks on the grill

The results BNP Paribas (-7.61%) were poorly received, the record net profit for the third consecutive year being marred by the difficulties encountered in the consumer credit and real estate businesses.

The Dutch bank ING (-6.66%) was also punished by investors, following results that were less good than expected and few prospects.

The German banking giant Deutsche Bank (+4.12%), in permanent restructuring since 2019, announced Thursday that it would cut 3,500 jobs by 2025 following reporting a drop in its profit in 2023.

Julius Baer (+7.32%), shaken by its loans to the Austrian real estate empire Signa, announced Thursday the departure of its managing director, Philipp Rickenbache.

Volvo less invested in Polestar

The Swedish car manufacturer Volvo Cars announced Thursday that it would stop investing in Polestar, a specialist in high-end electric vehicles, which will now be financed by its parent company, the Chinese group Geely. Volvo Cars owns 48.3% of Polestar, but is “considering a potential adjustment” of its stake.

This plan excited investors since on the Stockholm Stock Exchange, the stock jumped 21.45%.

On the side of oil and currencies

Oil prices rose on Thursday before an OPEC+ technical meeting, remaining supported by geopolitical tensions in the Middle East, with investors paying attention to a potential response from the United States following the death of American soldiers in Jordan.

The barrel of Brent took 0.65% to US$81.06 and a barrel of WTI 0,63% à 76,34 $US.

On the foreign exchange market, the euro fell 0.05% once morest the dollar, to US$1.0812 per euro and the pound fell 0.18% to 1.2554 pounds per dollar.

The bitcoin fell 0.86% to US$42,090.

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#Stock #market #whats #happening #markets #opening #Thursday #February

2024-02-01 16:28:09

The performance of stock markets in the Gulf region was mixed at the close, Thursday, with the Federal Reserve hinting at a possible start to cut interest rates, while growing tension in the region affected investor sentiment.

The Council Committee’s decision to keep interest rates unchanged yesterday, Wednesday, was not surprising, but he stressed that interest rates will not be reduced until he has more confidence in actually being able to curb inflation.

Speaker Jerome Powell in a news conference flatly ruled out tapering as early as March, but also acknowledged that everyone on the committee is looking to ease this year.

Price movements

The main index of the Saudi market rose by one percent, ending a series of losses that lasted three days, with Al Rajhi Bank shares advancing 2.4 percent, while the shares of the National Bank of Saudi Arabia, the country’s largest bank, closed up 1.4 percent.

Shares of the giant oil company, Saudi Aramco, rose 1.3 percent.

The Qatari index fell by 0.4 percent, affected by a 1 percent drop in Qatar Islamic Bank’s stock and a 2.1 percent drop in Masraf Al Rayan’s stock.

In Abu Dhabi, the index closed 0.4 percent lower.

The main index of the Dubai Stock Exchange advanced 1.2 percent, with leading stock Emaar Properties rising 1.5 percent.

Outside the Gulf region, Egypt’s leading stock index rose 0.5 percent.

The International Monetary Fund said on Wednesday that it was making progress in talks with Egypt on how to resume disbursement of a $3 billion loan following a sharp decline in the currency exchange rate in the parallel market, which made reaching an agreement more urgent.

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#performance #Gulf #stock #exchanges #varied #expectations #rate #cut

2024-02-01 21:13:33

The Malian opposition denounces an “illegitimate” and “without consultation” decision following Mali’s withdrawal from ECOWAS. A choice of the ruling junta which wanted to protest once morest the sanctions imposed by the regional body demanding a rapid return of civilians to power. Other countries such as Niger and Burkina Faso have also left the organization.

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#Withdrawal #Mali #ECOWAS #opposition #denounces #illegitimate #decision