2023-11-09 17:17:29
(Photo: The Canadian Press)
MARKET REVIEWS. World stock markets are trending upwards on Thursday, ahead of a speech by the President of the American Central Bank Jerome Powell and after the publication of several company results.
Stock market indices at 7:30 a.m.
The Stock Exchange Paris gained 0.80%, Frankfurt 0,45%, Milan 0,62% et London 0,45%.
In New York, before the markets opened, the average Dow Jones industrial stocks rose by 0.1% and the broader index S&P 500 was stable.
In Asia, the Nikkei 225 jumped 1.5% in Tokyo. The scholarship of Shanghai added less than one point and the Hang Seng slipped 0.3% in Hong Kong. Sydney took 0.3% and Seoul 0,2%.
On the New York Commodity Exchange, the price of oil took 76 US cents to US$76.09 per barrel.
The context
In Europe, the governor of the Bank of France François Villeroy de Galhau judged that the key rates of the European Central Bank (ECB), kept unchanged during the last monetary policy meeting, would no longer increase “barring a shock” and “barring any surprises”.
“We are winning the battle against inflation” and “barring any surprises, barring any shock, the increase in our key rates is over,” he declared in a speech, adding however that he was “too early to talk about falling.”
In Asia, the Hong Kong Stock Exchange closed down 0.33% in late trading after the publication of the consumer price index in October, which fell 0.2% year-on-year.
“The serious real estate crisis that China is experiencing and the deterioration in household and investor confidence indicate that Beijing must either implement large-scale recovery measures or carry out clear structural reforms in order to bring investors back into the fold. China,” said Ipek Ozkardeskaya, analyst at Swissquote Bank.
The Tokyo Stock Exchange ended up (+1.49%), reassured by the decline in American bond yields in particular.
On Wall Street, the futures contracts of the three main indices oscillated between -0.06% and +0.10%, suggesting a rather stable opening.
In the bond market, yields on 10-year Treasury bills were at 4.53%, compared to 4.49% at the close on Wednesday, while they had climbed to 5% two weeks ago, a 16-year high. years. The German bond with the same maturity was at 2.65% compared to 2.61% the day before.
Investors are also waiting to hear Thursday evening from the President of the American central bank, Jerome Powell, who will participate in a question and answer session at the International Monetary Fund at 2 p.m.
Flutter unscrews in London
The sports betting giant Flutter (FLTR) fell by 8.32% in London after announcing quarterly results which “disappointed investors, with reduced profit prospects following a sharp increase in betting on sports results which favored the bettor”, explains Richard Hunter, analyst at Interactive Investor, to AFP.
Telecommunications on the rise
Telecom Italia (TIT, +1.19%) announced that it had reduced its net loss in the third quarter to 311 million euros and posted an increase in revenue.
The leading European telecommunications group Deutsche Telekom (DTE, +0.42%) announced that it was revising its results forecasts upwards for 2023, after a third quarter above expectations.
ArcelorMittal, colossus with feet of clay
The world number two in steel, the French ArcelorMittal (MT, +0.12% in Paris), announced a decline of 6.4% in its net profit in the third quarter and 12.4% in its turnover compared to the same quarter of 2022, but achieved an operating profit EBITDA better than what analysts expected, underlines Bloomberg.
AstraZeneca: net profit jumps
The British pharmaceutical giant AstraZeneca (AZN, +3.24% in London) saw its profit almost double year-on-year in the third quarter.
On the side of oil and currencies
The prices of oil were rising again, after having reached their lowest levels since July the day before.
The barrel of North Sea Brent for delivery in January took 0.55% to 79.98 US dollars ($US).
Its American equivalent, the barrel of West Texas Intermediate (WTI) for delivery in December, rose 0.49% to US$75.70.
In the foreign exchange market, the dollar climbed facing theeurowhich lost 0.18% to US$1.0690, and was almost stable against the pound, which nibbled 0.03% to US$1.2259.
The bitcoin climbed 3.75% to US$36,927, the highest since May 2022.
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