(CercleFinance.com) – The Paris Stock Exchange maintains good gains at the close of the markets (+1.05% towards 4765Pts): today’s session – with a return above 4,750 – allows the weekly balance to return to positive of +0.6%, a gain that was not self-evident Thursday evening in light of the closing of the US indices… and especially the declarations of 3 members of the FED who all made the same speech: a drop rate from March appears premature.
Today’s rise coincides with the start of the results season in the United States, but it is difficult to make a plausible explanation for the rebound of +0.8% towards 4,476 in the E-Stoxx50 (i.e. +0.2% weekly).
Indeed, after a promising opening, Wall Street is reversing course and is now stable (see down 0.4% on the Dow Jones), perhaps handicapped by the contrasting results of the banking giants which opened the ball with quarterly publications .
If JPMorgan was able to reassure investors with solid accounts in the fourth quarter, Citigroup suffered a heavy loss of $1.8 billion due to heavy charges and Wells Fargo saw its provisions for bad debts climb.
Tension in the Middle East rose again overnight, as the United States and the United Kingdom carried out strikes against the installations of the Houthi rebels in Yemen.
This causes tension on oil prices, WTI shows a gain of 1.3% to $73.8 just like gold, which is rising (+1.5%) towards its historic highs (at 2,062 $).
On the economic side, the Labor Department announced that producer prices fell by 0.1% in raw data in December, but increased by 0.2% excluding food, energy and commercial services.
These figures do not have much impact on the dollar, which remains stable against the euro, nor on the yield of 10-year Treasuries, which relaxes by -3Pt towards 3.958% and thus returns to its levels of January 3 : Back to square one.
Our OATs also relaxed by -6Pts to 2.682% and Bunds by -5Pts to 2.158%… which is the most favorable development that could explain the revival of the CAC40 and the Euro-Stoxx50.
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