by Augustin Turpin
(Reuters) – Wall Street is expected to fall and European stock markets hesitate at mid-session on Thursday, as markets anticipate the next decision from the Bank of England (BoE) as well as data on weekly jobless claims in the States -United States, which could provide clarification on the plans of the Federal Reserve (Fed) in terms of rates.
New York index futures signal Wall Street opening down 0.15% for the Dow Jones, 0.16% for the Standard & Poor’s-500 and 0.2% for the Nasdaq.
In Paris, the CAC 40 took 0.03% to 8,133.54 around 10:35 GMT and in Frankfurt, the Dax 0.31%.
In London, the FTSE is stable (0.04%) just before the BoE meeting.
The pan-European FTSEurofirst 300 index lost 0.09%, the EuroStoxx 50 of the euro zone 0.32% and the Stoxx 600 0.09%.
The period of publication of financial results in the first quarter and optimism about a rate cut by the European Central Bank (ECB) in June allowed the Stoxx, which was catching its breath after the index records recorded in April, to start May on a positive note.
“Inflation data appears to be more convincing in Europe than in the United States… We expect this first rate cut from the ECB to mark the start of a rate reduction cycle,” said Kiran Ganesh, analyst at UBS Global Wealth Management.
However, trading was weighed down by the poor performance of several leading stocks trading ex-dividend. The automotive sector compartment of the Stoxx 600 thus recorded a decline of 1.27% with the fall of Mercedes-Benz (5.8%), while HSBC and Allianz lost 1.5% and 4.6%.
In terms of values, BE Semiconductor Industries rose 3.7% after announcing that it had received an order for 26 hybrid bonding systems while Argenx fell 8.7% after its first quarter results.
BBVA lost 6% after presenting a public tender offer on Thursday to buy Sabadell, which gained 3.2%. VALUES TO FOLLOW AT WALL STREET
Warner Bros. Discovery is making progress in pre-market trading after the group announced plans to offer its Disney+, Hulu and Max streaming services as a bundle to its American customers, starting this summer.
RATE
Eurozone bond yields are rising amid subdued trading ahead of the Bank of England’s interest rate decision later today.
The German ten-year yield gained 3.7 basis points (bps) to 2.497%, its American equivalent gaining 2.3 bps to 4.5062%.
CHANGES
The dollar is stable (0.09%) against a basket of reference currencies, while the euro loses 0.09% to 1.0735 dollars.
OIL
Oil prices are rising as falling U.S. crude inventories, increased refinery activity and higher Chinese imports last month boosted demand forecasts for Australia’s two largest crude consumers. world.
Brent rose 0.72% to $84.18 per barrel, with American light crude (West Texas Intermediate, WTI) increasing 0.82% to $79.64.
THE SITUATION ON THE MARKETS
(Some data may have a slight lag)
(Written by Augustin Turpin)
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