by Claude Chendjou
PARIS (Reuters) – Wall Street is expected to fall slightly on Monday and European stock markets are moving in small mid-session variations at the start of a week marked by new corporate publications, particularly in the technology sector, and leading macroeconomic indicators ahead of central bank meetings.
Futures on New York indices signal an opening on Wall Street down 0.08% for the Dow Jones, 0.13% for the Standard & Poor’s 500 and 0.14% for the Nasdaq.
In Paris, the CAC 40, which hit a historic record on Friday at 7,577 points, fell 0.02% to 7,575.44 around 12:15 GMT. In Frankfurt, the Dax nibbles 0.04%, but in London, the FTSE yields 0.04%.
The pan-European FTSEurofirst 300 index climbed 0.07%, while the euro zone’s EuroStoxx 50 dropped 0.08%. The Stoxx 600, which recorded a fifth straight weekly gain on Friday, rose 0.08%.
The financial securities compartment (+1.08%) offered support to the indices in Europe, while that of telecoms (-0.61%) showed the largest drop.
After better-than-expected results from several major U.S. banks and consumer staples giants like Procter & Gamble, Coca-Cola on Monday reported a quarterly figure above expectations, allowing the stock to take 1% ahead of the stock market.
Investors are awaiting the financial accounts of technology giants such as Microsoft, Alphabet, Meta and Amazon in the United States this week, and in Europe those of banks such as Barclays, Santander, Deutsche Bank and UBS, as well as consumer specialists. such as Nestle, Reckitt and Unilever.
On the macroeconomic side, this week will be published the estimate of US GDP for the first quarter, household income and spending in the United States for the month of March, as well as the PCE price index, closely followed by the US Federal Reserve. (Fed) which meets on May 2 and 3, before the meetings of the European Central Bank (ECB) and the Bank of England (BoE).
In its monthly report published on Monday, the Bundesbank estimates that the German economy probably grew in the first quarter thanks to the rebound in industrial production, which marks a slight optimism, while figures on growth in the first quarter will be published this week. France and several euro zone countries.
VALUES IN EUROPE
The world number one luxury LVMH, up 0.21%, on Monday became the first European group to exceed 500 billion dollars in market capitalization.
Casino sells 2.32%, after the proposal of the Czech businessman Daniel KÅ™etÃnský to take control of the group, an offer which comes to compete with the proposed merger between the Saint-Etienne distributor and Teract.
Vivendi gives up 0.99% after its results and the announcement of the signing of a purchase agreement for the sale of Editis to International Media Invest, a subsidiary of the CMI holding company founded by Daniel KÅ™etÃnský.
On the SBF 120, Orpea fell by 11.61%, the operator of retirement homes having rejected a request to convene a general meeting.
Elsewhere in Europe, Philips climbed 13.17% after better than expected quarterly results, while Sweden’s Avanza fell 6.14% after a quarterly profit below expectations.
The German software publisher Software AG soars by 49.12% thanks to a takeover offer of 2.2 billion euros made by the private equity firm Silver Lake.
RATE
The 10-year German Bund yield was almost unchanged at 2.492%, with caution being warranted ahead of Friday’s GDP data in the eurozone.
In the United States, the yield on ten-year Treasuries fell around three basis points, to 3.5433%.
CHANGES
The dollar continues to depreciate against a basket of benchmark currencies, falling 0.14% after hitting a one-year low on April 14 at 100.78 points.
The euro climbed 0.09% to $1.0997 and the pound 0.04% to $1.2435 as traders believe the Fed is closer to the end of its monetary tightening cycle than the ECB and the BoE.
OIL
Oil prices fell due to questions about interest rates and the economic situation: Brent fell 0.18% to $81.51 a barrel and US light crude (West Texas Intermediate, WTI) 0.12% to $77.78.
NO MORE MAJOR ECONOMIC INDICATOR ON TODAY’S AGENDA
(Written by Claude Chendjou, edited by Kate Entringer)
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