2023-05-18 16:03:39
(Photo: Getty Images)
MARKET REVIEWS. Stock markets rose on Thursday, appreciating positive signals on a possible US debt ceiling agreement sent by President Joe Biden.
Stock market indices at 8:15 a.m.
The futures contracts Dow Jones rose by 2.00 points (+0.01%) to 33,480.00 points. The futures contracts S&P 500 increased by 7.00 points (+0.17%) to 4,178.50 points. The futures contracts Nasdaq gained 31.75 points (+0.23%) to 13,675.25 points.
In London, the FTSE 100 rose by 37.24 points (+0.48%) to 7,760.47 points. In Paris, the CAC 40 rose by 67.13 points (+0.91%) to 7,466.57 points. In Frankfurt, the DAX increased by 255.97 points (+1.60%) to 16,207.27 points.
In Asia, the Nikkei Tokyo closed up 480.34 points (+1.60%) at 30,573.93 points. For his part, the Hang Seng Hong Kong ended up 166.68 points (+0.85%) at 19,727.25 points.
On the oil side, the price per barrel of American WTI was down US$0.27 (-0.37%) to US$72.56. The barrel of North Sea Brent lost US$0.29 (-0.38%) to US$76.67.
The context
US President Joe Biden and House Republican Leader Kevin McCarthy have expressed confidence that a deal can be reached to raise the US debt ceiling.
Without this, the United States may not be able to repay the next installments and thus be in default as of June 1.
“History tells us that a deal is more likely to be reached at the last minute, which suggests there is still room for some bad news before a deal is finally done,” warns Rodrigo Catril of National Australia Bank.
In addition, “the latest set of strong US economic data has eased recession fears,” according to Stephen Innes, analyst at SPI Asset Management.
Sovereign interest rates on the bond market rose slightly. That of the German 10-year debt was worth 2.41%, against 2.33% at the close of the previous day.
London takes center stage
The microeconomic news is dense Thursday for the values of the London place.
The British luxury group Burberry fell 6.43%, despite a sharp rise in profit in its 2022/2023 financial year, thanks to the recovery in China. Finalto analyst Neil Wilson, however, notes weaker-than-expected sales in the United States. And Richard Hunter, an analyst at Interactive Investor, attributes the decline to profit taking.
The action of BT slipped by 7.36%. The British telephone group, which had already started to cut its costs in a difficult economic context, announced that it would cut up to 55,000 jobs by 2030.
The British luxury car manufacturer Aston Martin jumped for its part by nearly 15% after the announcement of a partnership with the Chinese group Geely, which will increase its stake in the capital and become the third shareholder of Aston Martin.
The British postal group IDSparent company of Royal Mail, resisted (-0.09%) despite the announcement of a heavy loss for its staggered annual financial year, weighed down in particular by strikes and a drop in the volume of parcels.
The British airline Easyjet (+0.88%) announced that it had reduced its loss over one year for its staggered first half by 29% to 307 million pounds (more than 350 million euros), driven by strong demand despite rising costs .
On the side of currencies and oil
Crude prices were stable after their jump the day before, as the wind of optimism in the markets caused by a possible agreement on the debt ceiling of the United States gave way to more caution on the part of investors.
The Brent de more du Nord for delivery in July yields 0.06% to 76.90 dollars and that of American WTI fell 0.03% to US$72.81.
The euro remained weak against the US dollar, which benefits from its status as a safe haven. The single European currency lost 0.26% to US$1.0812.
The bitcoin was stable at US$27,360.
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