by CORENTIN CHAPRON
PARIS (Reuters) – The main European stock markets are expected to increase at the opening on Thursday, with investors positioning themselves for the publication of PMI indicators during the session.
Futures contracts suggest an opening up 0.14% for the Parisian CAC 40, 0.09% for the FTSE in London, 0.11% for the Dax in Frankfurt and 0.87% for the Stoxx 600.
The final manufacturing PMI indicators for December will be published from 08:50 GMT.
The data should confirm the slowdown in industrial sector activity last month.
The announcements by Chinese President Xi Jinping, who pledged to do more to support activity during his New Year greetings, benefit European stocks, for which activity depends on the health of the second world economy.
Manufacturing activity in China, however, grew in December at a slower pace than expected, Caixin data published Thursday showed, as investors worry about the impact of a trade war between the United States. and China.
A WALL STREET
The New York Stock Exchange ended its last session of the year on Tuesday, after reaching records in 2024.
The Dow Jones index fell 0.07%, or 29.51 points, to 42,544.22 points.
The broader Standard & Poor’s 500 lost 25.31 points, or 0.43% to 5,881.63 points.
The Nasdaq Composite fell 175.99 points, or 0.90%, to 19,310.792 points.
Over the whole of 2024, the best sector performances are for communication services, technology and consumer discretionary, with gains of 30% to 40% over the year.
IN ASIA
The Tokyo Stock Exchange will be closed until January 6.
Disappointing activity figures in China put pressure on local stocks. The Hong Kong Hang Seng index declined by 2.2%, the Shanghai SSE Composite fell by 2.66%, the CSI 300 by 2.91%.
RATE
US yields vary little in the absence of catalysts.
The yield on the ten-year Treasury is unchanged at 4.571%, while the yield on the two-year security drops 1.5 bps to 4.2374%.
The yield on the German ten-year rate is stable at 2.369%, that of the two-year rate remains at 2.081%.
CHANGES
The yen remains at a five-month low against the dollar, under pressure from a large rate differential.
In Asia, the yen advanced 0.13% to 156.67 yen per dollar, the Australian dollar rose 0.34% to 0.6211 dollars.
The dollar fell by 0.15% against a basket of reference currencies, the euro rose by 0.11% to $1.0366, and the pound sterling strengthened by 0.1% to $1.2529.
OIL
The Chinese president’s announcements raise hopes of a recovery in oil demand in China, the world’s largest importer, which supports barrel prices.
Brent rose 0.35% to $74.9 per barrel and American light crude (West Texas Intermediate, WTI) rose 0.36% to $71.98.
(Written by Corentin Chappron, edited by Augustin Turpin and Blandine Hénault)
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