PARIS (Reuters) – European stock markets ended in dispersed order on Thursday, the rebound of Wall Street on cheap purchases not enough to dispel fears about the global economy.
In Paris, the CAC 40 lost 0.2% to 6,647.31 points. The British Footsie lost 0.12% and the German Dax edged up 0.02%.
The EuroStoxx 50 index ended up 0.05%, the FTSEurofirst 300 fell 0.09% and the Stoxx 600 0.12%.
At the time of the close in Europe, Wall Street was moving in the green after a cautious start to the session: the Dow Jones gained 0.6%, the Standard & Poor’s 500 0.7% and the Nasdaq Composite just over 1%.
Major New York indices have come under pressure in recent days, with the benchmark S&P-500 down 3.6% in the previous five sessions on the possibility that the Federal Reserve keeps rates high. longer than expected.
The Fed has raised rates by 375 basis points this year, the fastest rise since the 1980s, with the risk of plunging the US economy into recession.
The central banks of the United States, the euro zone and the United Kingdom must announce their decisions on interest rates next week to counteract inflation that is still too high.
VALUES
On the stock market, the European basic resources sector took 1.27% with the hope linked to the reopening in China. In Paris, ArcelorMittal gained 2.18%.
British American Tobacco fell 3.09% as the global cigarette giant said it expects financial costs to rise in fiscal 2022 as global interest rates rise and market strength continues. dollar.
RATE
Yields on US Treasuries are rising after falling the day before on the prospect of a tapering of the Fed’s rate hike as early as next week.
That of ten-year Treasuries gained more than four basis points to 3.4656% the day after a low since mid-September at 3.402%.
On the European bond market, the ten-year German ended the day almost unchanged at 1.819%.
CHANGES
The dollar lost ground against a basket of benchmark currencies (-0.29%) and the euro took the opportunity to go back above 1.05.
OIL
The oil market is falling again with expectations that the major Keystone pipeline between Canada and the United States will soon be back in service, shut down following a leak.
Brent fell 0.91% to 76.47 dollars a barrel and US light crude (West Texas Intermediate, WTI) 0.44% to 71.69 dollars.
(Laetitia Volga, editing by Kate Entringer)
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