Stock market: what moves on the markets before the opening Thursday

(Photo: Getty Images)

Global equity markets once again welcomed the salvo of results on Thursday, good news tempered by fears of inflation and changes in monetary policies.

Wall Street was preparing to open higher, after blowing Wednesday.

In Asia, the cases of COVID-19 in China, Sino-U.S. Tensions and the pale economic outlook mapped out by the Japanese central bank have clouded the picture.

The clues

In the United States, around 8:00 a.m., the futures contracts Dow Jones collected 45 points or 0.13% to 35,434 points. Those of S&P 500 increased by 12.75 points or 0.28% to 4,557.25 points while those of the Nasdaq increased 95.75 points or 0.61% to 15,683 points.

In Europe, the results were mixed. In London, the FTSE 100 lost 0.23%. In Paris, the CAC 40 grew by 0.56% and in Frankfurt, the DAX was down 0.10%.

In Asia, the Nikkei of Tokyo dropped 0.96%. For its part, the Hang Seng of Hong Kong fell 0.28%.

On the side of oilAt around 8:00 a.m., the price of a barrel of US WTI gave up 2.11% to US $ 80.92 and a barrel of North Sea Brent retreated 2.05% to US $ 82.85.

The context

“Most of the optimism is due to the good results of companies this week, because other than that, there is not a lot of good news,” comments Ipek Ozkardeskaya, analyst at Swissquote.

Doubts return, however, with the many meetings and decisions of central banks, ending with the US Federal Reserve next week.

The European Central Bank is holding its meeting on Thursday, but has already warned that it would not give any more indications on the normalization of its monetary policy until December.

But the tensions on central bank policies, with a hardening in Brazil and Canada for 24 hours, can be seen on sovereign rates: “brokers on the debt market are betting more on a restrictive policy,” continues Ipek Ozkardeskaya.

This led to a rise in rates for short-term maturities: the US 2-year took 7 basis points, at 0.50%, while the 10-year traded around 1.55%, ten points below these levels. from the previous week.

The hydrocarbon giant Royal Dutch Shell was down 1.97% to 1,730.00 pence, after reporting a loss of $ 447 million. BP also yielded 1.37% to 353 pence.

And TotalEnergies posted a profit of 4.6 billion US dollars, it was not enough and the title also lost 0.18% to 43.56 euros in Paris.

These titles can also be penalized by the marked drop in oil prices since the day before. Prices are under pressure from an unexpected rise in US stocks and Tehran’s desire to resume nuclear negotiations, making it more likely that its barrels will return to the market in the medium term.

Semiconductor shortage has hit auto giants Stellantis and Volkswagen in their results: both manufacturers estimated that the crisis had deprived them of 600,000 cars.

The German fell 2.83% to 198.12 euros, while the second group, listed in Paris, rose 0.51% to 17.65 euros.

In Japan, the shortage has also weakened the group of IT services and equipment Fujitsu (-8.13% to 19,985 yen) and industrial conglomerate Hitashi (-1.91% to 6,650 yen).

The two major European banks that published their results on Thursday revised their forecasts upwards for this year: the Italian UniCredit gained 1.30% to 11.55 euros and the Briton Lloyds rose 1.33% to 49.61 pence. Its profit more than doubled thanks to provision reversals and rising revenues with the economic recovery.

Before the ECB, the euro was stable against the greenback at US $ 1.1602 at around 7:20 a.m. Quebec time.

the bitcoin accelerated to get back above US $ 60,000 (+ 3.40% to US $ 60,930).


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.