2023-06-02 17:51:52
By Le Figaro with AFP
Published
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Global stock markets were up sharply on Friday after the release the number of job creations, much higher than expected, in May in the United States, and driven by a possible support plan for the real estate sector in China. On Wall Street, around 4:10 p.m. GMT, the Dow Jones gained 1.84%, the Nasdaq 0.94% and the broader S&P 500 index took 1.32%. In Europe, the Paris Stock Exchange climbed 1.87%, London gained 1.56% and Frankfurt 1.25%. “European markets fared much better today after reports that China is considering further support measures for its real estate marketnotes CMC Markets analyst Michael Hewson.
These measures “would improve the prospects for market support“Said Gilles Guibout, director of strategy for European equities at Axa IM, while in the middle of the week, Chinese economic data reflected a recovery in activity that was more laborious than expected by investors.
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World stock markets also focused on the health of the labor market in May in the United States: job creations were much more numerous than anticipated by analysts (+339,000 against 195,000 expected) and the unemployment rate slightly increased, but remains historically low. Wages also continued to rise, but more slowly than before. “Overall, the signals are somewhat mixed regarding the next action of the US central bank (Fed)“, estimates Christophe Boucher, director of investments of ABN AMRO Investment Solutions.
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«Rising jobless rate proves economy is weakening, however, sharp rise in wages may leave door open for further tighteningmonetary policy of the American institution, continues the analyst. At the Fed’s next meeting on June 13-14, the Fed could choose to raise rates for an 11th straight time, or pause to observe the effects of previous hikes and avoid dragging the pace too far. economic activity, in order to avoid recession.
On the bond market, the interest rate on the American 10-year debt tightened and was worth 3.67% around 4:00 p.m. GMT, against 3.59% at the close of the previous day, and the German equivalent was worth 2.31 % against 2.24% at the last close.
Sport is popular in Frankfurt
In Frankfurt, Adidas took 5.82% and Puma 6.35%. The Canadian sports equipment manufacturer Lululemon, known for its high-end yoga pants, was off to a sprint after publishing, Thursday after the stock market, results that exceeded expectations and raised its annual forecasts.
Shares of German telecom giant Deutsche Telekom (-9.06%) fell after a Bloomberg dispatch reported that Amazon would like to enter the US mobile network market. He is said to be negotiating discounted wholesale prices with operators including Deutsche Telekom’s subsidiary, T-Mobile US. “We do not comment on speculations“Reacted a spokesperson for Deutsche Telekom.
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Commodities and Currencies
Oil prices continued to rise on Friday, benefiting from investors’ risk appetite ahead of a much-anticipated OPEC+ meeting. Around 4:00 p.m. GMT, a barrel of Brent from the North Sea, for delivery in August, took 1.84% to 75.65 dollars. Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in July, gained 1.82% to 71.38 dollars.
The dollar lost ground slightly after benefiting from uncertainties over US debt. Around 4:00 p.m. GMT, it fell by 0.36% against the euro, at 1.0723 dollars for one euro, and dropped 0.47% against the pound sterling, at 1.2466 dollars for one pound. Bitcoin fell 0.87% to $27,104.11.
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