PARIS (Reuters) – European markets ended in the green on Thursday, encouraging results and comments from ECB officials considered accommodating having supported sentiment.
In Paris, the CAC 40 gained 0.52% to 8,023.26 points, while the German Dax increased by 0.45% and the British Footsie by 0.37%.
The EuroStoxx 50 index ended the session with an increase of 0.53%, compared to 0.26% for the FTSEurofirst 300 and 0.32% for the Stoxx 600.
Forvia, Edenred, Danone, easyJet and Nokia have published results welcomed by the markets, livening up trading in the absence of important indicators.
The sentiment was also supported by several statements from European monetary policy makers. If the trajectory of rates remains uncertain after June, the members of the Governing Council who spoke on Thursday were unanimous on a probable decline in June.
The risk of a conflagration in the Middle East appears to be receding, as Israel’s allies press to avoid a violent response to Saturday’s Iranian attack, appearing to favor the implementation of new sanctions.
A WALL STREET
Wall Street is on the rise, despite lower-than-expected new jobless claims figures, and while monetary policy makers have insisted on the persistence of inflation.
Federal Reserve Board of Governors John Williams, Michelle Bowman and Loretta Mester each insisted that a rate cut would be conditional on the process of disinflation continuing, while price dynamics surprised at the rise.
At closing time in Europe, trading on the New York Stock Exchange indicated an increase of 0.59% for the Dow Jones, compared to 0.39% for the Standard & Poor’s 500, and 0.46% for the Nasdaq Composite.
VALUES
Danone confirmed its financial objectives for 2024 on Thursday after a 4.1% like-for-like increase in its turnover in the first quarter, and increased by 0.89%.
Worldline lost 4.38%, with Il Corriere della Sera reporting that the proposal from banks considering a merger between the group and Nexi had been received without enthusiasm.
Automotive supplier Forvia reported on Thursday robust order intake and organic revenue growth of 3.1% in the first quarter, which pushed the stock up 7.94%.
Edenred advanced 4.87% after reporting on Thursday better-than-expected operational revenue in the first quarter, driven in particular by the performance of its Reward Gateway platform.
Sartorius Stedim Biotech tumbled 15.69% after reporting on Thursday a turnover down 8.2% in the first quarter in a context particularly of weak demand in China.
Swiss engineering company ABB on Thursday reported better-than-expected first-quarter profit and forecast faster revenue growth in the coming months, rising 6.26 percent.
EasyJet said it was confident for the summer season after a good performance in winter driven by growing demand and the increase in capacity, and strengthened by 2.28%.
RATE
Yields are strengthening in the United States, after indicators suggesting that labor markets remain tight and comments from monetary policy makers considered restrictive.
At the close of the rate markets in Europe, the ten-year Treasury yield rose 4.6 bp to 4.6306%, compared to 5 bp for the two-year rate, to 4.9819%.
The German ten-year yield rose 1.7 bps to 2.488%, while the two-year yield rose 2.8 bps to 2.979%.
CHANGES
The dollar strengthens slightly after the unemployment claims figures.
The dollar gained 0.09% against a basket of reference currencies, while the euro lost 0.15% to 1.0655 dollars. The pound sterling rose 0.12% to $1.2461.
OIL
Crude is hesitating, while an authorization allowing Venezuela to export its oil has ended and the United States has announced the establishment of sanctions against Iran, which however do not concern the country’s oil sector.
Brent fell 0.22% to $87.1 per barrel and American light crude (West Texas Intermediate, WTI) was stable at $82.69.
(Written by Corentin Chappron, edited by Kate Entringer)
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