by Claude Chendjou
PARIS (Reuters) – Wall Street is expected to rise slightly on Friday for a shortened session the day after the Thanksgiving holiday, while the main European stock markets, with the exception of London, are progressing moderately at mid-session, investors digesting the latest mixed data in the euro zone.
New York index futures signal Wall Street opening up 0.19% for the Dow Jones and near stability for the Standard & Poor’s 500 (+0.05%) and the Nasdaq (-0.05%). ) the day after a public holiday in the United States when today’s session will end at 6:00 p.m. GMT.
“It’s the day after the Thanksgiving hangover in the US, investors are unwilling to take new positions when they’re not entirely sure the Fed rate spike story is a story about which we must continue (to surf)”, comments Giles Coghlan, market analyst at brokerage GCFX.
In Paris, the CAC 40 rose 0.16% to 7,289.49 around 1:20 p.m. GMT. In Frankfurt, the Dax gained 0.09% and in London, the FTSE lost 0.24%, penalized by profit-taking in the real estate sector.
The pan-European FTSEurofirst 300 index advanced by 0.1%, the EuroStoxx 50 of the euro zone by 0.16%. The Stoxx 600 is up 0.08% and should gain 0.6% over the week as a whole.
Investors remain focused on company results and the prospect of a rate cut from major central banks before the numerous indicators which will be published next week, including inflation figures in the euro zone and the United States.
In the meantime, German gross domestic product (GDP) figures showed on Friday a slightly more marked decline than expected in activity in the third quarter. The Ifo business climate index in Europe’s largest economy has, however, improved since the beginning of November.
On the European stock market, the distribution sector (+0.35) is in demand as this Friday marks “Black Friday”, the promotional period kicking off the end-of-year holidays.
VALUES TO FOLLOW AT WALL STREET
In the United States, the market will be monitoring Best Buy, Macy’s, Target, Walmart and Nordstrom in particular, while Americans plan to spend an average of 875 dollars (801 euros) on purchases over the holiday period, or 42 dollars more than the last year, according to a study.
VALUES IN EUROPE
Automotive equipment manufacturers and Continental advance by 1.92% and 1.54% respectively thanks to the increase in Barclays’ recommendation to “overweight”.
BASF gained 1.63% after information according to which Abu Dhabi National Oil (ADNOC) would consider acquiring the energy division of the German group, Wintershall Dea.
The Swedish video game group Evolution gains 2.24% after announcing a share buyback plan.
RATE
The yield of the German Bund at ten years
The yield on ten-year US Treasury bonds rose more than five basis points, to 4.4743%.
EXCHANGES The dollar fell 0.12% against a basket of reference currencies, close to a two and a half month low hit at the start of the week.
Over the month as a whole, the greenback has lost 2.8% at this stage and is heading towards its weakest monthly performance in a year.
The euro stands at 1.0913 dollars, up 0.08%.
OIL
The oil market is irregular before the OPEC+ decision on its production, scheduled for November 30. However, the two oil benchmarks should end the week with their first weekly gain in five weeks.
Brent rose 0.01% to $81.43 per barrel, while American light crude (West Texas Intermediate, WTI) fell 0.83% to $76.46.
(Written by Claude Chendjou, edited by Blandine Hénault)
©2023 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.