(Reuters) – The main European stock markets are expected to rise at the opening on Friday for the last session of the year, supported by rising American unemployment figures.
According to the first available indications, the Parisian CAC 40 is up 0.17% at the opening. Futures contracts suggest an opening advance of 0.10% for the FTSE in London, 0.15% for the Dax in Frankfurt and 0.18% for the EuroStoxx 50.
Investors are optimistic for the final session of 2023, in a context with poor data publication.
On Thursday, weekly unemployment claims in the United States showed an increase in the number of job seekers to 218,000, against 210,000 expected.
The indicator testifies to the transmission of monetary policy from the Federal Reserve to the American economy, while tensions in the labor market have been one of the main factors of inflation in recent months, and gives credence to the idea of an imminent rate cut from the central bank.
Investors anticipate more than 150 basis points of monetary easing next year, with an initial cut of 25 bps expected as early as March.
VALUES TO FOLLOW:
A WALL STREET
The New York Stock Exchange ended in disorganized order on Thursday, with the Nasdaq falling slightly into negative territory, at the end of a session without major movements during which the S&P-500 nevertheless reached a record before losing most of of his winnings just before the bell.
The Dow Jones index gained 0.14%, or 53.58 points, to 37,710.10 points. The broader S&P-500 gained 1.77 points, or 0.04%, to 4,783.35 points. The Nasdaq Composite fell 4.04 points (0.03%) to 15,095.14 points.
IN ASIA
The Nikkei index of the Tokyo Stock Exchange ended slightly lower on Friday for the last session of a year marked by its strongest annual progression in 10 years. The Nikkei index lost 0.22% to 33,464.17 points, while the broader Topix gained 0.19% to 2,366.39 points.
Over the year, the Nikkei posted growth of more than 28%.
Toyota Motor was the main support for the Nikkei, up 1.12%.
The Chinese indices are progressing but are expected to post a loss of more than 10% over the year, as Chinese economic problems have been so significant in 2023. The Shanghai SSE Composite takes 0.57% and the CSI 300 0.2%.
RATE
US yields are hesitant in a data-poor context.
The ten-year Treasury yield is stable at 3.84%, while the two-year rate drops 1.3 bps to 4.2685%.
CHANGES
Foreign exchange markets are calm with the pound strengthening ahead of the release of the UK house price indicator.
The dollar fell 0.08% against a basket of reference currencies while the euro gained 0.09% to 1.1069 dollars and the pound sterling 0.28% to 1.2766 dollars.
In Asia, the yen strengthened by 0.07% to 141.29 yen per dollar, while the Australian dollar gained 0.21% to 0.6843 dollars.
OIL
Oil is up slightly after declining on Thursday as global shipowners prepare to resume Red Sea voyages disrupted by Houthi attacks.
Brent advanced 0.44% to $77.49 per barrel, with American light crude (West Texas Intermediate, WTI) gaining 0.31% to $71.99.
(Written by Corentin Chappron, edited by Bertrand Boucey)
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