by Augustin Turpin

(Reuters) – Wall Street is expected to rise slightly on Friday and European stock markets are in the green at mid-session, driven by media, energy and consumer goods stocks, with markets continuing to benefit from the optimism about an upcoming rate cut by the major central banks. Futures on New York indices signal an opening on Wall Street up 0.04% for the Dow Jones, 0.05% for the Standard & Poor’s-500 and 0.11% for the Nasdaq. In Paris, the CAC 40 posted an increase of 0.33% to 7,560.02 points around 11:25 GMT. In Frankfurt, the Dax gained 0.27% and in London, the FTSE 0.22%.

The pan-European FTSEurofirst 300 index 0.3%, the Eurozone EuroStoxx 50 rose 0.37% and the Stoxx 600 0.29%.

Global markets have been rallying since mid-December, when the U.S. Federal Reserve hinted it might consider cutting interest rates next year. However, the European Central Bank (ECB) did not give a similar outlook.

The values ​​of consumer goods as well as those of the energy sector, which rose 0.5% to 0.6%, supported the increase, driven in particular by the big names in luxury Christian Dior (+1.3%), Hermès (+0.69%) and Richemont (+0.3%). The media compartment took 0.45%. VALUES TO FOLLOW AT WALL STREET

Alphabet has agreed to settle a consumer privacy dispute that alleged the company secretly tracked the internet usage of millions of people who thought they were browsing privately. The plaintiffs sought at least $5 billion in damages.

VALUES IN EUROPE

Carmat gains 6.46% after announcing Thursday evening that it had improved the software of its artificial hearts, in order to strengthen their security.

RATE

Euro zone bond yields are showing a slight rise, against a backdrop of moderate trading, with many market participants absent for the holidays.

The yield on the ten-year German Bund gained 7.3 basis points to 2.013%, that of the two-year rate rose 2.1 bps to 2.401%.

“Investors are catching their breath before buying again in a market where sellers are very limited,” Florian Ielpo, an analyst at Lombard Odier Investment Management, said of the recent rally in stock and bond markets.

In the United States, the yield on ten-year Treasury bonds gained 3.5 basis points to 3.8847%.

CHANGES

The dollar advances by 0.04% against a basket of reference currencies, but should still end the year 2023 with a loss, after two consecutive years of increase, while the euro advances by 0.04% to 1, 1063 dollars.

“Markets expect a cut (rates) sooner in the United States and are less certain that the European Central Bank (ECB) will cut them as quickly, which is why the dollar is very soft,” commented Niels Christensen, analyst at Nordea.

OIL

Oil prices rose slightly on Friday but are expected to end 2023 down around 10%, their first annual decline in two years, at the end of a year marked by geopolitical tensions, production cuts and global inflation control measures that have led to significant price fluctuations.

Brent rose 0.7% to $77.69 per barrel, American light crude (West Texas Intermediate, WTI) rose 0.56% to $72.17.

NO ECONOMIC INDICATORS ON THE AGENDA FOR DECEMBER 29:

(Some data may have a slight lag)

(Writing by Augustin Turpin, edited by Kate Entringer)

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