by Laetitia Volga

PARIS (Reuters) – The main European stock markets are expected to be close to equilibrium on Monday, before the multiple publications of company results and economic statistics expected in the coming days.

The first indications available suggest an increase of 0.1% for the Paris CAC 40, a decline of 0.13% for the Dax in Frankfurt, 0.04% for the FTSE in London and 0.02% for the EuroStoxx 50.

The week that begins will be driven in particular by the results of the mega-caps of the American high-tech sector, with those of Microsoft and Alphabet on Tuesday, then Meta on Wednesday and Amazon on Thursday.

The macroeconomic agenda for the coming days is also loaded with, among other things, the first estimate of growth in the United States in the first quarter, which according to the Reuters consensus should have slowed to 2.0% after +2.6%.

Investors will also learn on Friday of the monthly figures for household spending and income, which includes the PCE price index, closely followed by the Federal Reserve.

AT WALL STREET

The New York Stock Exchange ended without much change on Friday, after mixed results and as investors try to assess the influence of recent economic data on the trajectory of US rates.

The Dow Jones index gained 0.07% to 33,808.96 points, the S&P-500 gained 0.09% to 4,133.52 points and the Nasdaq Composite advanced 0.11% to 12,072.46 points.

PMI indices showed private sector activity rose to an 11-month high in April, bucking growing signs of a recession later in the year.

In stocks, Amazon gained 3% after a research institute predicted its results were expected to beat market expectations.

Procter & Gamble rose 3.5% after raising its annual revenue target.

IN ASIA

The Tokyo Stock Exchange advanced 0.15%, supported by the airline group ANA Holdings which raised its annual profit forecast, and by other values ​​linked to tourism with the increase in the number of foreign visitors to Japan.

The Bank of Japan is holding its first monetary policy meeting at the end of the week, chaired by its new governor, Kazuo Ueda.

Only three of 27 economists polled by Reuters expect it to change its management of yield curve control on this occasion, but the Sankei daily reported on Sunday that the central bank plans to carry out a thorough review of the impact of its accommodating policy.

In China, the CSI 300 index lost 0.6% and the Shanghai SSE Composite 0.27%, with investors still doubting the viability of the country’s economic recovery.

RATES/EXCHANGES

US bond yields fell very slightly, to 4.1777% for ten-year paper and 4.1777% for two-year.

Calm reigns on the foreign exchange side where the dollar is unchanged against a basket of international currencies. The euro is at 1.0975, down 0.11%.

OIL

The oil market is down on concerns about rising interest rates, the global economy and the demand outlook.

Brent fell 1.14% to 80.73 dollars a barrel and US light crude (West Texas Intermediate, WTI) 1.21% to 76.93 dollars.

(edited by XX)

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