by Claude Chendjou
PARIS (Reuters) – The main European stock markets, except London, ended higher on Thursday, while Wall Street turned around at the end of the morning in a volatile session where investors were torn between indicators showing once again resistance. of the American economy and the solid results published by major groups, including Nvidia.
In Paris, the CAC 40 ended with a gain of 0.25% to 7,317.43 points. The German Dax gained 0.49%. The British Footsie, on the other hand, ended down 0.29% with stocks like AstraZeneca (-2.52%) and GSK (-1.63%) in health.
The EuroStoxx 50 index, for its part, advanced by 0.36%, the FTSEurofirst 300 by 0.03% and the Stoxx 600 by 0.06%.
At the time of the close in Europe, the Dow Jones fell by 0.63%, the Standard & Poor’s 500 by 0.45% and the Nasdaq by 0.58%. All three major Wall Street indexes, which opened in the green on Nvidia’s outlook, are now losing ground as investors digest the weekly US unemployment statistic and the second estimate of US GDP in the fourth quarter .
Those jobless claims fell to 192,000 last week, a sign of a still-tight labor market, while the Commerce Department said U.S. gross domestic product (GDP) rose 2.7% in the fourth quarter. on an annualized basis. Although this rate is slightly lower than the first estimate of 2.9%, it also testifies to a still solid economy, despite attempts by the Federal Reserve to curb demand.
In values, the American semiconductor manufacturer Nvidia soared 12.49% after the publication Wednesday evening of a sales forecast for the current quarter above Wall Street expectations. The group also reported a jump in demand for chips for services based on artificial intelligence.
In the wake of Nvidia, Qualcomm, Intel and Advanced Micro Devices gained up to 2.14%, while the semiconductor index and the broader new technologies index rose 1.51% and 0.3% respectively. .
VALUES IN EUROPE
Nvidia’s outlook also had positive repercussions in the European technology sector, which gained 0.44% with notably Infineon (+1.62%), STmicroelectronics (+1.42%) and ASM International (+1.15 %).
The automotive index, which was also sought after, was driven in particular by the results of Stellantis (+3.61%), while in other sectors the publications of Bouygues (2.01%), Axa (+3.24%) and Fnac Darty were applauded.
British advertising group WPP (+3.44%), which forecasts solid growth this year, and Rolls-Royce, which reported annual profit above expectations, offered the Footsie in London some support .
THE INDICATORS OF THE DAY
Eurozone inflation was slightly higher in January than initially estimated, rising 8.6% year on year, according to Eurostat.
CHANGES
On the foreign exchange market, the dollar hit a session high since January 6 against a basket of international currencies before reducing its gains to 0.17% at the close in Europe.
The euro fell slightly by 0.18% to 1.0582 dollars, also at a low since January, the European currency having failed to react to inflation figures in the euro zone.
RATE
US 10-year Treasuries yield fell around three basis points to 3.90% despite the day’s macro data, the strength of the US economy and the prospect of higher interest rates already priced in by investors, according to Sterling Capital Management.
In Europe, the ten-year German Bund yield ended down about four points at 2.47%.
OIL
Oil prices, which lost more than two dollars on Wednesday, on fears of an interest rate hike that could affect demand, rose again on Thursday. The gains are limited, however, by last week’s increase in crude inventories in the United States by 9.9 million barrels, according to figures from the American Petroleum Institute reported by sources.
Brent rose 1.5% to 81.81 dollars a barrel and US light crude (West Texas Intermediate, WTI) 1.5% to 75.06 dollars.
TO BE FOLLOWED ON FRIDAY:
THE MARKET SITUATION:
(Some data may show a slight shift)
THE FENCE IN
EUROPE
Indices Last Var. Var. %YTD
Points
Eurofirst 300 1825.67 -0.47 -0.03% +8.77%
Eurostoxx 50 4258.16 +15.28 +0.36% +12.25%
CAC 40 7,317.43 +18.17 +0.25% +13.03%
Dax 30 15,475.69 +75.80 +0.49% +11.15%
FTSE 7907.72 -22.91 -0.29% +6.12%
SMI 11247.75 -52.54 -0.46% +4.83%
The values to follow in Paris and in
Europe: [WATCH/LFR]
THE TREND TO
WALL STREET
Indices Last Var. Var. %YTD
Points
Dow Jones 32816.52 -228.57 -0.69% -1.00%
S&P 500 3972.58 -18.47 -0.46% +3.47%
Nasdaq 11447.95 -59.12 -0.51% +9.38%
Nasdaq 100 12023.48 -42.79 -0.35% +9.91%
Minutes of the session on Wall
Street: [.NFR]
“The Day Ahead” – Update on the next session
on Wall Street [DAY/US]
CHANGES
Standby Price Var.% YTD
Euro/Dlr 1.0580 1.0601 -0.20% -1.14%
DLR/Yen 134.82 134.90 -0.06% +2.83%
Euro/Yen 142.68 143.10 -0.29% +1.70%
Dlr/CHF 0.9343 0.9312 +0.33% +1.07%
Euro/CHF 0.9887 0.9875 +0.12% -0.08%
Stg/Dlr 1.2008 1.2044 -0.30% -0.74%
Index $ 104.7140 104.5850 +0.12% +8.88%
GOLD
Var. %YTD
Gold Spot 1819.78 1825.04 -0.29% +19.96%
RATE
Last Var. Spread/Bund
(pts)
Future Bunds 134.70 +0.38
10-year Bunds 2.48 +0.01
Bund 2 years 2.91 +0.01
10-year OATs 2.96 +0.01 +47.90
10-year Treasury 3.91 -0.01
Treasury 2 years 4.69 -0.01
OIL
Previous Price Var. Var.% YTD
US light crude 74.92 73.95 +0.97 +1.31% +22.40%
Brent 81.68 80.60 +1.08 +1.34% +23.70%
(Written by Claude Chendjou, edited by Blandine Hénault)
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