Western stock markets ended on a mixed note on Tuesday, during a recovery session after a holiday weekend, marked by a downturn in the technology sector on Wall Street.
In Europe, Paris (-0.16%), London (-0.15%) and Frankfurt (+0.11%) finished around balance. Milan (+0.57%) and Madrid (+0.79%) progressed more markedly.
In New York, the Dow Jones gained 0.07%, the Nasdaq index lost 1.63% and the broader S&P 500 index lost 0.57%.
The Nasdaq had not lost so many points in one session for more than two months.
“There is no element that can fuel the European markets and, in the United States, the decline in the Nasdaq is certainly due to profit taking,” notes Philippe Cohen, portfolio manager at Kiplink Finance.
The New York session was poorly oriented by a lowering of recommendation by a Barclays analyst on Apple (-3.58%), justified, according to him, by disappointing sales of iPhone 15.
In one trading day, the Apple firm erased more than $100 billion in market capitalization.
This drop comes at a time when the stock had already performed less well than those of its major rivals, partly due to a lack of announcements in the very promising artificial intelligence (AI) segment.
The year begins with a sparse diary. The only indicators of the day, the PMI indices showed a further contraction in manufacturing activity in the euro zone and the United States.
The stock market also suffered from the rise in bond rates.
The 10-year French government bond rate reached 2.59%, compared to 2.56% on Friday and 2.40% at last week’s lowest. its American equivalent touched 3.93%, against 3.88% on Friday.
In Asia, the Hong Kong Stock Exchange lost 1.52% and Shanghai 0.43%, in the wake of the publication on Saturday of a more marked contraction than expected in the activity of Chinese industry. The luxury and spirits sectors suffered the blow after this publication.
Tesla overtaken by BYD
Elsewhere on the stock market, Tesla remained firm (-0.02%) after reporting deliveries up 38% year-on-year in the fourth quarter of 2023 and above expectations.
They are nevertheless lower than those of its Chinese competitor BYD, which thus becomes, in fact, the world’s leading manufacturer of electric vehicles.
BYD’s Chinese rivals listed on Wall Street, NIO (-7.17%) and XPeng (-3.77%), suffered the blow, as did the American Rivian (-10.06%), whose Deliveries fell by 10% from one quarter to the next.
ASML excluded from China
Dutch semiconductor giant ASML said in a statement on Monday that the Dutch government recently revoked a license to ship some of its chipmaking machines to China, amid US pressure in the strategic sector. .
Its shares fell 2.55% in Amsterdam and 5.28% in New York, where it is also listed.
In the same sector, Infineon lost 1.96% in Frankfurt, Stmicroelectronics 1.47% in Paris. In New York, AMD (-5.99%), Intel (-4.88%), Nvidia (2.73%), Qualcomm (-3.04%) and Broadcom (-2.77%) also waltzed .
Oil declines
Oil prices had an eventful day, climbing by more than 2% during the session, pushed by the increase in geopolitical risk before finally ending sharply lower.
The price of a barrel of North Sea Brent, for delivery in March, fell 1.49% to $75.89 after climbing 2.15% in the morning.
Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in February, fell by 1.77% while it gained 2.18% a few hours earlier.
Among shipping groups, Maersk climbed 6.38% in Copenhagen and Hapag-Lloyd rose 3.26% in Frankfurt.
The greenback gained 0.94% against the single currency, to 1.0940 dollars per euro.
© 2024 AFP
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