2023-06-02 13:56:52
(Photo: Getty Images)
MARKET REVIEWS. Global stock markets were up on Friday, investors being reassured by the positive outcome on US debt and impatiently awaiting data on US employment to help them anticipate the next directions of central banks.
Stock indices
London, Frankfurt and Paris added between 1.0% and 1.3% at the start of the session in Europe.
In New York, before the markets open, the average Dow Jones of industrial stocks and the broader index S&P 500 increased by 0.4%.
In Asia, the Nikkei 225 added 1.2% in Tokyo. The scholarship of Shanghai climbed 0.8% and the Hang Seng jumped 4% in Hong Kong. Sydney took 0.5% and Seoul 1.2%.
On the New York Commodity Exchange, the price of oil added 81 US cents to US$70.91 a barrel.
The context
“Stocks continued to climb at the start of the final session of a volatile week for brokers,” noted Pierre Veyret of ActivTrades, “investors welcomed positive developments regarding the US debt ceiling issue” .
After weeks of negotiations, the United States suspended Thursday by a vote of the American Congress the ceiling of their debt until January 2025 and dismissed, within a few days, the threat of a default.
Now that “that page is turned,” investors will now turn their attention to “the highly anticipated” U.S. jobs report released on Friday, as it “could help determine the Federal Reserve’s monetary policy in the second half of the year.” the year,” says Pierre Veyret.
Investors are divided on the position that the American central bank (Fed) will adopt at its next meeting on June 14, estimating that it could adopt a further 25 basis point hike in its key rate or decide to a pause followed by a rise in July.
“If the number of jobs created in May surprises on the upside, i.e. if it is above 180,000, the probability that the Federal Reserve decides to raise interest rates again will be higher. “, believes Mr. Veyret.
Conversely, a low figure will make it “more difficult” to execute a rate hike, which would make investors happy, who have been hoping since the start of the year that central banks will soften their aggressive policy on the matter. , put in place to curb galloping inflation.
Full tube Dechra Pharmaceuticals
The veterinary laboratory Dechra Pharmaceuticals jumped 8.30% in London, after confirming a takeover offer from the Swedish fund EQT and the sovereign fund Abu Dhabi Investment Authority (Adia), which values the company at nearly 5 billion pounds.
Everything rolls for the car
The auto sector was in good health on Friday. In Paris, the automobile group Renault took 4.16%, despite a complaint from nearly 2,000 car owners about faulty engines. The French automotive supplier Valeo increased by 4.29% and its competitor Faurecia of 6.22%. Volvo took 4.60% in Stockholm, when Porsche et Volkswagen respectively took 3.56% and 3.07% in Frankfurt.
Chinese tech sparks
Tech stocks have soared in Hong Kong, especially the Chinese internet giant Baidu, which took 7.48% in the last exchanges. The e-commerce giant JD.com (+7,00%), son concurrent Ali Baba (+6.60%), the global video game giant Tencent (+5.64%) and the manufacturer of smartphones and electronic devices Xiaomi (+4.68%) were not left out either.
Commodities and Currencies
Oil prices were rising. The barrel of Brent de Mer du Nord gained 1.71% to US$75.55 and a barrel of American WTI 1,61%, à 71,23 $US.
An active refuge in times of crisis, the American dollar lost ground slightly on Friday, after having benefited from the uncertainties on the American debt. It fell by 0.06% against the euro, at US$1.0769 for a euroand dropped 0.01% against the livre sterlingat US$1.2528 for one pound.
The bitcoin advanced 0.91% to US$27,114.18.
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