by Claude Chendjou
PARIS (Reuters) – Wall Street is expected to rise slightly on Tuesday and the European stock markets are also in the green at mid-session in trading without much conviction while the week will be shortened to Thursday and the market awaits data on the inflation. New York index futures signal Wall Street opening down 0.20% for the Dow Jones, 0.35% for the Standard & Poor’s 500 and 0.48% for the Nasdaq.
In Paris, the CAC 40 advanced 0.38% to 8,182.8 around 12:25 GMT. In Frankfurt, the Dax increased by 0.69%, reaching a new historic high at 18,395.55 points. In London, the FTSE gained 0.06%, with the decline in basic resources weighing on the index.
The pan-European FTSEurofirst 300 index takes 0.17% and the EuroStoxx 50 of the euro zone 0.55%. The Stoxx 600, which has gained 6.4% since the start of the year, rose 0.27% on Tuesday, heading towards a second quarter in a row in the green.
On the second day of a week shortened to Thursday due to the Easter weekend, the indices in Europe and the United States remain close to their record levels. This limits the potential for gains while investors are also awaiting monthly inflation figures this week in several European countries and the United States in the hope that they will support the hypothesis of a reduction in key rates. in June.
Catherine Mann, one of the members of the monetary policy committee of the Bank of England (BoE), however warned on Tuesday against too much complacency of the financial markets which, according to her, are betting on too many reductions rates this year.
The governor of the American Federal Reserve (Fed), Lisa Cook, for her part called for caution and the president of the Atlanta Fed, Raphael Bostic, said Monday evening that he was less confident about a continuation of the slowdown in inflation than it was in December.
The Governor of the Bank of Greece, Yannis Stournaras, however stressed on Tuesday that a consensus was emerging within the European Central Bank (ECB) in favor of a rate reduction in June if inflation develops as expected. VALUES TO FOLLOW AT WALL STREET
The semiconductor sector is in demand before the opening on Wall Street with in particular Micron Technology which gains another 1.9% the day after its historic peak, while Nvidia advances 0.9% against a backdrop of enthusiasm for artificial intelligence.
VALUES IN EUROPE
On a sectoral level, the positive trend in Europe is mainly supported by new technologies (+0.62%) in the wake of expected gains on the Nasdaq, particularly in the semiconductor sector.
In contrast, the basic resources compartment (-0.27%) showed one of the biggest declines on the Stoxx 600, notably with the decline in copper prices.
In terms of values, Atos fell 6.10%, the group having announced that it wanted to restructure its debt by July after a record annual loss.
The online fashion retailer Asos climbed 5.69% thanks to an improvement in its cash flow and a confirmation of its prospects.
The online commerce group Ocado jumped 7.02%, benefiting from forecasts from Ocado Retail which anticipates an increase of 10.6% in its turnover in the first quarter.
German seed company KWS Saat advances 6.53% after an agreement to sell its corn business in South America to the Argentinian group GDM.
CHANGES
The dollar is coming back from a one-month peak (-0.08%) against a basket of reference currencies.
The euro, up 0.12%, stood at 1.0849 dollars and the pound sterling at 1.2641 dollars (+0.06%).
RATE
The ten-year German Bund yield fell slightly on Tuesday, by around two basis points, to 2.354%, after a gain of more than five points the day before.
That of American Treasury bonds of the same maturity is displayed at 4.2375%, also down by around two points, the day after closing at 4.253%.
OIL
The oil market was mixed shortly after Monday’s sharp rise, with investors taking a more mixed view of the loss of Russian refining capacity, while the dollar’s slight bout of weakness offered some support.
Brent, which gained 1.5% on Monday, nibbled 0.08% on Tuesday to 86.82 dollars per barrel. American light crude (West Texas Intermediate, WTI), which advanced 1.6% the day before, gained 0.21% to $82.12.
(Writing by Claude Chendjou, edited by Kate Entringer)
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