by Blandine Henault

PARIS (Reuters) – The main European stock markets are expected to rise on Thursday at the opening, after the results considered reassuring from Nvidia which carry the indices in Asia and Wall Street futures.

Futures contracts report an increase of 0.57% for the Parisian CAC 40, 0.68% for the Dax in Frankfurt, 0.39% for the FTSE in London and 0.65% for the Stoxx 600.

Nvidia, an American chip giant that has become a star stock in the AI ​​theme, published its quarterly results on Wednesday after the close of Wall Street and did not disappoint high expectations. It reported a higher-than-expected revenue forecast for the current quarter, which sent its stock higher in electronic trading.

“Nvidia’s profits lifted sentiment and eased concerns about exaggerated valuations, allowing the theme of artificial intelligence to continue to stimulate markets,” Saxo Markets analysts point out in a note.

In Tokyo, the Nikkei reached a 34-year high while futures on the American technology index Nasdaq forecast an increase of 1.64% at the opening of Wall Street.

VALUES TO FOLLOW:

In Europe, the technology segment should also benefit from Nvidia’s announcements while several company results, such as those of Danone, Axa, Engie, Accor, Nestlé and WPP, should boost the stock price.

A WALL STREET

The New York Stock Exchange ended in disarray on Wednesday awaiting the publication of Nvidia’s results after the close.

The Dow Jones index gained 0.13% to 38,612.24 points, the S&P-500 also gained 0.13% to 4,981.80 points while the Nasdaq Composite fell 0.32% to 15,580.87 points. .

IN ASIA

The Tokyo Stock Exchange ended up 2.19% at 39,098.68 points, after reaching a session high since 1989 at 39,156.97 points.

The optimism around Ndivia also supports the Chinese stock markets. The Shanghai Stock Exchange Composite Index gained 1.27% and the Hang Seng in Hong Kong gained 0.98%.

RATES/EXCHANGES

Minutes of the Federal Reserve’s (Fed) January meeting, released Wednesday evening, showed that US central bank officials were concerned about the risk of cutting rates prematurely. These “minutes”, which did not hold any surprises, fueled the hypothesis among traders of a first rate cut next June, not before.

The dollar fell by 0.2% against a basket of reference currencies while the yield on ten-year Treasuries was almost unchanged, at 4.314%.

The euro is up 0.3% against the greenback before the publication in the morning of the PMI activity indicators for the month of February which should show a further contraction in the euro zone.

The ten-year German Bund yield rises more than three basis points, to 2.471%.

OIL

Crude prices rose for the second consecutive session amid expectations of improving demand in the United States and a weak dollar.

A barrel of Brent rose 0.3% to $83.28 and that of American light crude (WTI) gained 0.35% to $78.18.

(Written by Blandine Hénault, edited by Kate Entringer)

Copyright © 2024 Thomson Reuters