A trader works in the IG index trading room
(Reuters) – Wall Street is expected to rise on Friday and European stock markets rose mid-session, supported in particular by energy and mining stocks benefiting from the rise in commodity prices.
On the New York Stock Exchange, which awaits the report on US employment for the month of August at 12:30 GMT, index futures signal an opening up 0.36% for the Dow Jones, from 0.33 % for the Standard & Poor’s-500 and 0.15% for the Nasdaq.
In Paris, the CAC 40 rose 0.15% to 7,327.48 around 11:09 GMT. In Frankfurt, the Dax hesitated and lost 0.08% and in London, the FTSE gained 0.63%.
The pan-European FTSEurofirst 300 index gains 0.35%, the EuroStoxx 50 of the euro zone 0.25% and the Stoxx 600 0.34%.
China is supporting market sentiment on Friday and commodity prices as the Asian giant’s manufacturing activity unexpectedly rebounded to 51.0 in August from 49.2 the previous month, according to the PMI. of the manufacturing sector calculated by Caixin/S&P Global.
“With improving domestic demand, new orders and production, investors are hoping this could mark an inflection point,” said Richard Hunter, head of markets at Interactive Investor.
The numbers suggest that Beijing’s efforts to revive economic growth are bearing fruit, as signs of further stimulus from the Chinese government have supported stocks exposed to China this week.
In Europe, manufacturing activity showed signs of recovery in August, contracting at a slower pace than in July, according to final results from the monthly S&P Global/Hamburg Commercial Bank survey.
In France, however, manufacturing activity contracted in August for the seventh consecutive month at a slightly faster pace than expected.
The slowdown in the manufacturing sector also continued in Germany in August, although at a slower pace than in July.
WALL STREET VALUES TO FOLLOW
The release of the monthly jobs report at 12:30 GMT should provide a comprehensive view of the labor market and could be decisive for the Fed’s rate decision this September.
In the meantime, computer maker Dell gained 9.2% in pre-market trading after reporting sales above expectations.
VALUES IN EUROPE
The energy compartment rose 2.19% on Friday, helped by tighter supply and expectations that OPEC+ will extend oil production cuts through the end of the year.
The mining sector gained 1.28% as prices for most base metals rose after news of an unexpected recovery in manufacturing activity in China, its main consumer.
The automotive compartment lost 1.77%, weighed down by the lowering of UBS’s recommendations on Volkswagen (-3.6%) and Renault (-5.14%)
In Paris, Casino, lost 4.39% after the rating agency S&P Global lowered the distributor’s credit rating from “CC” to “D”, saying it had not honored the coupon due mid- July on certain bonds.
RATE
Eurozone bond yields remained broadly unchanged on Friday, although they are nearing a weekly decline as inflation data released on Thursday failed to clarify the debate over the ECB’s rate decision. of interest. The ten-year German yield is moving to 2.475%, while that of the two-year rate stands at 2.951%.
In the United States, the ten-year Treasury yield rose 1.7 basis points to 4.1083%, while the two-year rate was unchanged at 4.8514%.
CHANGES
Currency markets are flat ahead of the US jobs data.
The dollar remains stable against a basket of benchmark currencies, and the euro climbs 0.01% to 1.0842 dollars.
OIL
Oil rose on Friday, supported by Chinese announcements and hopes of continued OPEC production cuts through the end of the year.
Brent rose 1.28% to 87.94 dollars a barrel, US light crude (West Texas Intermediate, WTI) rose 1.34% to 84.75 dollars.
(Written by Diana Mandiá, Editing by Kate Entringer)