The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
Europe continues its advance of the last sessions on Wednesday, while Wall Street retreats with the rise in rates and mixed corporate results in tech.
In Europe, Paris gained 0.69%, London 0.49% – breaking new records during the session and at the close – and Frankfurt 0.37%. Milan lagged behind (-0.27%).
“European stocks are rising thanks to optimism that borrowing costs will soon fall” from central banks, explains Fiona Cincotta, analyst at City Index.
The Central Bank of Sweden lowered its main key rate on Wednesday, a first in eight years, highlighting lower inflation. The European Central Bank (ECB) could follow in June.
European markets are also supported by the less bad than expected figures for German industrial production in March, with a decline limited to 0.4% over one month.
On Wall Street, the S&P 500 fell by 0.11%, the Nasdaq by 0.30% and the Dow Jones resisted (+0.21%) around 5:45 p.m., the day after an already mixed session due to lack of an indicator to guide Investors.
On the bond market, sovereign interest rates are increasing in Europe and the United States after several sessions of decline. That of the German ten-year bond stood at 2.46% around 3:40 p.m. GMT compared to 2.42% on Tuesday.
Tech lacking results
The digital VTC and meal delivery platform Uber fell 9.01% after publishing a loss greater than projected by the market and forecasts of low turnover for analysts. Conversely, its rival Lyft exceeded expectations and raised its forecasts.
Shares of the online commerce platform Shopify fell by 19%. The group notably announced that it expected a deterioration in its margins for the current quarter.
The hotel reservation platform Tripadvisor fell by 27.77%, after indicating in particular that the committee responsible for identifying a possible buyer had failed.
The dating application group Match dropped 5.49% after its quarterly publication.
The electric vehicle manufacturer Rivian fell (-3.71%) after the publication of a quarterly loss heavier than expected by analysts.
The social network Reddit (+1.56%) reassured, hoping to achieve operational profitability from the second quarter.
Powerful Leonardo
The Italian aeronautics and defense giant Leonardo (+2.75%) published net profit and orders up sharply in the first quarter on Tuesday, in a global context of strong geopolitical tensions.
The Belgian-Brazilian brewer AB Inbev (+3.96%), the world number one in travel reservations Amadeus (+3.31%), the railway manufacturer Alstom (+9.36%), the German energy company Siemens Energy (+12.80%), the equipment manufacturer Puma (+10.86%), the reinsurer Munich Re (+3.19%) were praised on the continent, while the high-end car manufacturer BMW (-2 .93%) gave ground.
On the side of oil, currencies and bitcoin
Oil prices started moving forward again around 3:30 p.m. GMT, the trend reversing in particular after the announcement that American commercial crude oil stocks fell slightly last week.
The price of a barrel of Brent from the North Sea for delivery in July gained 0.42% to 83.51 dollars and its American equivalent, a barrel of West Texas Intermediate, for delivery in June, gained 0.57% to 78, 83 dollars.
On the foreign exchange market, the yen continued its descent against the dollar (-0.53%) to 155.51 yen per dollar. As for the euro, it fell by 0.05% against the dollar, to 1.0750 dollars per euro.
Bitcoin was worth $62,250, down 1.15%.
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