by Diana Mandia
(Reuters) – Wall Street is expected to decline slightly and the European stock markets are trading slightly on Tuesday at mid-session, with the exception of the German Dax, the markets examining a series of financial results and being rather cautious after the previous day’s gains.
Futures on New York indices signal an opening down 0.12% for the Dow Jones, 0.07% for the Standard & Poor’s-500 and 0.12% for the Nasdaq, after a sharply rising session on Monday, driven by technology stocks, notably Apple.
In Paris, the CAC 40 gained 0.21% to 8,223.49 points around 10:44 GMT. In Frankfurt, the Dax fell by 0.11% and in London, the FTSE 100 gained 0.20%.
The EuroStoxx 50 index is down 0.03%, the FTSEurofirst 300 gains 0.05% and the Stoxx 600 gains 0.03%. The latter ended Monday with a gain of more than 1%.
The stock markets are digesting a series of mixed company results, the day after a session favorable to risk thanks to the decline of concerns about the escalation of trade between the United States and China, the tenant of the White House having affirmed Monday that he hoped to conclude a fair trade agreement with Chinese President Xi Jinping.
“Over the last couple of days, some of the worries from last week have dissipated somewhat. This has led to a slight recovery in European stocks,” said Richard Flax, chief investment officer at Moneyfarm.
“The challenge in Europe is that the European earnings outlook is not as strong as in the US,” he adds.
The outlook for European business health has actually deteriorated slightly, according to the latest LSEG I/B/E/S earnings outlook data. European groups are expected to post an average increase of 0.2% in their profits in the third quarter, lower than the 0.5% growth forecast by analysts a week ago.
In Europe, luxury giants such as L’Oréal and Kering are due to report results on Tuesday and Wednesday respectively, while on Wall Street, investors are expected to react to Coca-Cola’s opening numbers, ahead of Tesla on Wednesday.
However, markets are moving at high levels, supported by hopes linked to the artificial intelligence (AI) sector and market expectations regarding an interest rate cut by the Fed at its next two meetings.
VALUES TO FOLLOW AT WALL STREET
VALUES IN EUROPE
The meal voucher specialist Edenred climbed 14.9% after reporting operational turnover above expectations in the third quarter. In its wake, its competitor Pluxee jumped 4.7%.
The action of the French analysis laboratory group Eurofins plunged more than 7% on Tuesday after the announcement of weaker than expected organic growth in the third quarter and a warning concerning the impact of currency effects.
OVHcloud, which announced on Tuesday the return with immediate effect of its Franco-Polish founder Octave Klaba as CEO and published its annual results, fell by 19.7%.
Elsewhere in Europe, Segro rose 2.8% after announcing strong results in lease signings in the third quarter.
RATES The bond market is rather calm on Tuesday.
The yield on ten-year Treasuries is almost unchanged at 3.9857%. The two-year also evolves with slight variations, at 3.4676%.
In the euro zone, the yield on the ten-year German Bund fell by almost a basis point to 2.5754%, while that of its two-year counterpart rose slightly to 1.9314%.
In France, where the parliamentary examination of the draft budget for 2026 is underway, the yield on the ten-year OAT is stable at 3.3636%.
CHANGES
On the foreign exchange market, the yen hit a six-day low against the US dollar after nationalist Sanae Takaichi, a proponent of an accommodative policy, became Japan’s prime minister on Tuesday.
The greenback gained 0.35% against a basket of reference currencies.
The euro lost 0.26% to 1.1610 dollars.
OIL
Oil prices are up Tuesday after falling Monday on concerns over excess supply and risks to demand stemming from tensions between the United States and China.
Brent advanced 0.95% to $61.59 per barrel and American light crude (West Texas Intermediate, WTI) gained 0.97% to $58.08.
NO MAJOR ECONOMIC INDICATOR ON THE AGENDA FOR OCTOBER 21
(Some data may have a slight lag)
(Written by Diana Mandiá, edited by Augustin Turpin)
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