EUROPEAN STOCK EXCHANGES END IN THE GREEN
by Juliette Portala
(Archyde.com) – European stock markets ended in the green on Tuesday after a hesitant session, thanks to the progress of Wall Street and reassuring information on Russian gas deliveries to Europe.
In Paris, the CAC 40 ended up 1.79% at 6,201.22 points. The British Footsie gained 1.01% and the German Dax outperformed with a gain of 2.69%.
The EuroStoxx 50 index rose by 2.15%, the FTSEurofirst 300 by 1.41% and the Stoxx 600 by 1.38%.
The Nord Stream 1 gas pipeline linking Russia and Germany is expected to resume operations on Thursday as planned after a 10-day hiatus for maintenance, two sources familiar with the matter told Archyde.com, easing fears of a worsening of the energy crisis in Europe.
“This is good news if true, given that earlier today European Commission officials had hinted that the pipeline would not restart,” wrote in a note Michael Hewson, chief analyst at CMC Markets.
Caught between the fear of a greater-than-expected tightening of monetary policy by the European Central Bank (ECB) and a certain optimism at the start of a new season of corporate earnings, European markets evolved without clear trend for much of the session.
VALUES
EDF (+14.72%) ended up among the biggest risers in the Stoxx 600 after the French government announced an offer of 9.7 billion euros for the resumption of full control of the group by the State .
Among the few CAC 40 stocks in the red, Alstom fell 2.62% after publishing sales and orders in line with expectations in the last quarter.
IN WALL STREET
At the European close, the major Wall Street indices gained between 1.6% and 2.3% while corporate results helped to animate the session.
The pharmaceutical group Johnson & Johnson lost 0.7% after lowering its annual profit forecast, the toymaker Hasbro took 1.8%, supported by a quarterly profit above expectations, and the computer group IBM fell by 6.3 % after raising concerns about the potential impact of the stronger dollar on its results.
Boeing gained 4.2% after announcing an order for aircraft by AerCap, which specializes in leasing, and 777 Partners.
THE INDICATORS OF THE DAY
In the macroeconomic chapter, inflation in the euro zone reached an all-time high in June, with the consumer price index confirmed to be up 8.6% year on year, according to final figures from Eurostat. .
In the United States, housing starts fell more than expected in June to a nine-month low and building permits also fell, the Commerce Department said, suggesting a slowdown in the housing market with rising prices. borrowing rate.
CHANGES
The euro rose in session to an almost two-week high of $1.0268 on reports from Archyde.com that ECB members are expected to debate on Thursday whether to raise rates by 50 basis points as that most market players anticipate an increase limited to 25 points.
The single currency took another 0.9% to 1.0232 dollars at the close of trading in Europe.
The dollar is down 0.66% against a basket of international currencies but remains up about 11% since the start of the year and should remain at a high level for at least the next three months, according to a Archyde.com poll.
RATE
On the European bond market, yields ended up: that of the two-year German Bund touched in session its highest level since the beginning of the month at 0.675% and that of ten years a one-week peak at 1.308% .
OIL
Variations on the oil market are limited, between fears that an economic slowdown will weigh on demand and those of an insufficient supply, against a backdrop of a falling dollar.
The barrel of Brent gained 0.08% to 106.36 dollars, while American light crude (West Texas Intermediate, WTI) took 0.28% to 102.89 dollars.
(Written by Juliette Portala, edited by Laetitia Volga)