2023-05-12 12:36:35
(Photo: Getty Images)
MARKET REVIEWS. Comments from the Bank of England (BoE) on British developments and inflation are causing trouble in the markets, which do not show a clear trend on Thursday and are awaiting a new inflation indicator in the United States.
Stock market indices at 7:30 a.m.
The futures contracts Dow Jones increased by 131.00 points (+0.39%) to 33,502.00 points.
The futures contracts S&P 500 rose by 15.25 points (+0.37%) to 4,159.00 points.
The futures contracts Nasdaq gained 27.00 points (+0.20%) to 13,473.50 points.
In London, the FTSE 100 rose by 21.39 points (+0.28%) to 7,751.97 points.
In Paris, the CAC 40 posted an increase of 59.06 points (+0.80%) to 7,440.84 points.
In Frankfurt, the DAX advanced by 78.46 points (+0.50%) to 15,913.37 points.
In Asia, the Nikkei of Tokyo rose by 261.58 points (+0.90%) to 29,388.30 points.
For his part, the Hang Seng of Hong Kong lost 116.55 points (-0.59%) to 19,627.24 points.
On the oil side, the price per barrel of American WTI earned US$0.27 (+0.38%) to US$71.14.
The barrel of North Sea Brent gained US$0.20 (+0.27%) to US$75.18.
The context
Wall Street ended in weak form on Thursday, weighed down by renewed stress around U.S. regional banks after PacWest said many customers withdrew deposits in early May.
Among the subjects arousing some optimism, Washington and Beijing have resumed contact at a high diplomatic level. The national security adviser to the American president, Jake Sullivan, met the chief of Chinese diplomacy, Wang Yi, Wednesday and Thursday in Vienna, after more than two months of cold.
In addition, the latest US economic statistics show “signs of an easing labor market and cause for optimism about the outlook for inflation,” according to Taylor Nugent of National Australia Bank.
But some investors see the glass half empty and fear an economic slowdown in the face of weakening consumption.
For John Plassard, investment specialist at Mirabaud, “the renewed stress in banking, the expiry of the debt ceiling and the true intentions of central bankers” are weighing on investor morale.
“There would be very serious repercussions not only for the United States, but also for the world economy in the event of a default on the American debt,” International Monetary Fund communications director Julie Kozack said Thursday. .
A meeting scheduled for Friday between Joe Biden and Republican Speaker of the House of Representatives Kevin McCarthy, and other House leaders, has been pushed back to next week.
JD.com hailed
Investors hailed Chinese e-commerce giant’s strong results JD.com (9618)which reported a net profit of $0.9 billion in the first quarter, compared to a loss in the same period in 2022.
Its stock jumped 7.11% in the latest trading in Hong Kong and dragged down the rest of China’s tech sector: Alibaba (9988) took 2.18%, Baidu (9888) 3,46% et Meituan (3690) 3,58%.
Richemont stands out
The Swiss luxury giant Richemont (CFR)owner of the Cartier jewelry house, published record annual sales, up 19%, to more than 19.9 billion euros, more than expected by analysts, against a backdrop of recovery in Asia over the last three fiscal month.
For its staggered 2022/2023 financial year (ending March 31), its annual net profit fell 86% to 301 million euros due to a partial disposal, specifying however that the profit rose by 60% for the activities kept in portfolio.
Its action rose 4.98% in Zurich. Elsewhere in the luxury sector, Dry (KER) took 2.15% in Paris, Burberry (BRBY) 1.62% in London and Salvatore Ferragamo (SFER) 0.84% in Milan.
Nissan and Honda drive straight
Japanese automakers Nissan (7201, +5.27% in Tokyo) et Honda (7267,+4,43%) unveiled an optimistic forecast for their next annual results on Thursday, despite persistent headwinds. Nissan also raised its dividend and Honda announced a plan to buy back its own shares for up to 200 billion yen.
On the side of oil, currencies and bitcoin
Oil prices retreated around 07:15 GMT. The barrel of American WTI, with maturity in June, yielded 0.42% to 70.57 dollars and that of Brent from the North Sea for delivery in July fell 0.29% to 74.76 dollars.
The foreign exchange market was sluggish. The euro gained 0.15% against the dollar to 1.093 2 dollars.
Bitcoin fell 3.66% to $26,290, the lowest in two months.
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