(Repeat in 2nd section, read progression carefully)
by Claude Chendjou
PARIS (Reuters) – Major European shares are expected to open on Friday in the green in the wake of Wall Street’s gains the day before, but gains are expected to be limited by typical investor caution within a week of trading meetings of three major central banks. banks.
Futures contracts on indices suggest a rise of 0.1% for the CAC 40 in Paris, 0.09% for the Dax in Frankfurt, 0.15% for the FTSE 100 in London and 0.14% for the EuroStoxx 50.
The US Federal Reserve (Fed), European Central Bank (ECB) and Bank of Japan (BoJ) will deliver their monetary policy decision next week, and markets are increasingly pricing in a Fed rate cut despite the unexpected increases in credit costs made this week by the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC).
This sent the New York Stock Exchange’s S&P-500 index into a bull market after gaining more than 20% from its October low. At the same time, the Vix volatility index, a barometer of fear, fell below 15 points, hitting a low for the year at 13.53 points.
BY WALL STREET
The New York Stock Exchange ended higher on Thursday, driven by technology stocks and volatility returned to unusually low levels.
The Dow Jones Industrial Average rose 0.50 percent, or 168.59 points, to 33,833.61 points.
The broader Standard & Poor’s 500 gained 26.41 points, or 0.62%, to 4,293.93 points.
The Nasdaq Composite, for its part, rose by 133.63 points (1.02%) to 13,238,524.
On shares, Amazon rose 2.43% after Wells Fargo raised its recommendation on the stock, while Nvidia gained 2.76%.
Bucking the trend, GameStop fell 17.89% after posting a higher-than-expected quarterly loss.
As it approaches, on the Tokyo Stock Exchange, the Nikkei index rose 1.79% to 32,208 points, returning to its 33-year high. The broader Topix takes 1.46% to 2,223.6 points
The MSCI index, which includes shares from Asia-Pacific (excluding Japan) rose 0.6%, very close to the February 16 peak.
In China, the Shanghai SSE Composite rose 0.03%, but the CSI 300 lost 0.13%.
In today’s statistics, producer prices in China fell faster than expected in May, with the PPI index falling 4.6% due to weak global demand. The consumer price index (CPI) in China also came in below expectations last month, with an increase limited to 0.2% year-on-year.
The dollar is steady on Friday (+0.05%) against a basket of benchmark currencies after falling 0.7% the previous day in response to US weekly jobless claims figures, which hit a year-on-year high of more and a half.
The euro rose to 1.0779 dollars (-0.02%).
In the bond market, the 10-year U.S. Treasury note yield was also nearly flat on Friday at 3.7317%, after losing seven basis points the previous day.
The oil market is retreating, heading for a second consecutive week of losses amid fears about global demand and skepticism about a possible deal between Iran and the United States on the nuclear issue.
Brent fell 0.79% to $75.36 a barrel and US crude (West Texas Intermediate, WTI) 0.81% to $70.71.
(Written by Claude Chendjou, edited by Tangi Salaün)
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