THE MAIN EUROPEAN STOCK EXCHANGES ARE EXPECTED
by Marc Angrand
PARIS (Reuters) – Major European stock markets are expected to rise on Friday in the opening session and should therefore take advantage of Wall Street momentum, even if Amazon’s difficulties and future growth prospects in the eurozone are likely. to limit investors’ appetite for risk-taking during this last meeting of the month.
Forex futures are up 1.11% for the CAC 40 in Paris, 1.16% for the Dax in Frankfurt, 1.04% for the FTSE 100 in London and 1.29% for the EuroStoxx 50.
On Wall Street, the Standard & Poor’s 500 Index recorded its best performance since March 9 (+ 2.48%) on Thursday and the Nasdaq Composite the biggest increase since March 16 (+ 3.06%) after the results better than expected by Meta Platforms despite the announcement of an unexpected contraction in the gross domestic product (GDP) of the United States in the first quarter.
However, after the close, Amazon lost up to 10% in almost overtime trading, in response to earnings and forecasts that did not meet market expectations. The number one e-commerce company in the world says it suffers from rising costs and labor shortages.
Apple, for its part, recorded a return of just over 2% after forecasts that were also not very encouraging, which overshadowed the record results of the first quarter. The Apple Group expects that the war in Ukraine, the economic slowdown in China and the difficulty of supplying parts will burden its sales. [L5N2WQA6V]
In Europe, the session will again be driven by a series of publications by listed companies but mainly by the first estimate of gross domestic product (GDP) in Germany and across the euro area in the first quarter, following the announcement of a stagnation in France by during this period.
The data could rekindle speculation about the European Central Bank (ECB) monetary policy as markets prepare for the US Federal Reserve meeting, which could announce a half-rate hike on Wednesday.
The broad European Stoxx 600 index is currently down 1.93% throughout April.
ON THE WALL STREET
The New York Stock Exchange closed sharply higher on Thursday, due to the stable quarterly results of the Meta Platforms that helped the recovery of technology and broader growth stocks, while mitigating the impact of the unexpected contraction of the US economy in January.
The Dow Jones industrial average was up 1.85% at 33,916.39 points, the Standard & Poor’s 500 was up 2.47% at 4,287.50 points and the Nasdaq Composite was up 3.06% at 12,871.53 points.
Meta Platforms, the parent company of the social network, jumped 17.6% after reporting a stronger-than-expected increase in the number of Facebook users on Wednesday.
Futures futures indicate a decline of about 0.3% for the S & P-500 and 0.5% for the Nasdaq after the results from Apple and Amazon.
Japanese markets remained closed, the day was a public holiday in Japan.
In China, Shanghai SSE Composite rose 2.43% and CSI 300 2.4% following statements by the Communist Party’s Politburo, citing official media reports, of its desire to step up support. for the economy.
In Hong Kong, Hang Seng gained 3.27%, due to the recovery of 8.27% of technology stocks.
The dollar lost ground against other major currencies (-0.33%), but is jumping above 5% throughout April, its best monthly performance since May 2012.
The euro remains slightly above $ 1.05 (+ 0.51%), a level below which it fell on Thursday for the first time in five years.
In the bond market, the yield on ten-year Treasury bills is slightly higher at the beginning of trading in Europe at 2.8463%, while the German equivalent fell slightly to 0.883%.
The oil market moved higher after a hesitant start to the day, with investors divided between fears of lower Chinese demand and lower Russian supply.
Brent was up 0.94% at $ 108.60 a barrel and US light crude (West Texas Intermediate, WTI) was up 0.57% at $ 105.96 after falling to 104.54.
However, they should record their fifth monthly increase.
(Written by Marc Angrand)