(Photo: Getty Images)
Global markets were cautious on Thursday, showing concern over the plight of ultra-leveraged Chinese real estate giant Evergrande and digesting new corporate results.
In New York, after approaching new highs on Wednesday, the Dow Jones and S&P were heading for a small opening down 0.27% depending on their futures contracts. The Nasdaq should follow the same trend.
In Asia, the collapse of the action of the Chinese real estate giant Evergrande, as soon as its listing resumed on Thursday, weighed on the trend.
In the United States, around 8:00 a.m., the futures contracts Dow Jones lost 103 points, or 0.29% to 35,374 points. Those of S&P 500 fell by 12.75, or 0.28% to 4,515.25 points, while those of the Nasdaq decreased by 52.75 points or 0.34% to 15,324.75 points.
In Europe, the results were also down. In London, the FTSE 100 was down 0.49%. In Paris, the CAC 40 dropped 0.36% and in Frankfurt, the DAX was near breakeven at 15,519.90 points (-0.02%).
In Asia, the Nikkei of Tokyo fell 1.87%. For its part, the Hang Seng of Hong Kong fell 0.45%.
On the side of oilAt around 8:00 a.m., the price of a barrel of US WTI was down 0.77% to US $ 82.78 and a barrel of North Sea Brent was down 1.13% to US $ 84.85.
Renewed uncertainties about the group’s ability to meet its financial obligations are reviving investors’ fears of seeing the entire Chinese economy shaken.
Especially since the Chinese government has still not made it clear whether or not it will come to the aid of the company. What “to put investors on the nerves”, according to Jeffrey Halley, analyst at Oanda.
The numerous company results, which for the most part exceeded expectations, were thus taken into the background.
“While generally praised, the quarterly performance of companies has not all but dispelled fears that price pressures, fueled by disruptions in supply chains and the energy crisis, are slowing down the economic recovery”, recalls Franklin Pichard, Managing Director of Kiplink Finance.
The US Federal Reserve (Fed) has also stressed in its Beige Book that the global supply difficulties, as well as the lack of manpower and concerns related to the Delta variant of COVID-19 have slowed down the growth in economic activity in the United States in early fall.
The short-term outlook nonetheless remains “positive” according to the institution.
The question of the gradual withdrawal of exceptional support measures from central banks is still trotting in the minds of investors.
In the bond market, European sovereign debt interest rates rose slightly.
Contrary to the current rhetoric of most central banks, the Central Bank of Turkey has lowered its main policy rate from 18% to 16%, following the wish of Turkish President Recep Tayyip Erdogan against high interest rates.
Its listing barely resumed on the Hong Kong Stock Exchange, the action of the Chinese real estate giant Evergrande, on the verge of default, collapsed 12.54%.
The group had announced the day before the failure of an operation that could have earned it 2.2 billion euros.
He also warned that he could “not be able to meet his financial obligations” as a payment deadline arrives this Saturday.
The Swiss-Swedish engineering group FIG lowered its sales forecast for 2021 due to supply pressures. Its stock lost 6.48% to 30.02 Swiss francs.
The agrifood and hygiene products giant Unilever (+ 2.46% to 3 913 pence) published sales up 4% in the third quarter, driven by the United States and Asia, with prices reflecting the “very strong” increase in costs.
The sales of the laboratory analysis company Eurofins increased significantly, driven by activities related to COVID-19, and led the company to revise upwards its outlook for 2021. Unable to predict the evolution of the pandemic, Eurofins did not however change its objectives for 2022 and 2023 and lost 6.89% to 104.24 euros.
The euro was down 0.09% against the greenback at US $ 1.1641.
the bitcoin was catching its breath (-0.80%) at US $ 65,485. It hit a new record on Wednesday, at US $ 66,976, driven by the launch of a financial product on Wall Street linked to cryptocurrency.