EUROPEAN SCHOLARSHIPS EXPECTED TO INCREASE AT OPENING
PARIS (Reuters) – The main European stock markets are expected to rise Thursday at the opening in the wake of Wall Street despite uncertainties about inflation as the publication of the results of the accounts of companies in the third quarter accelerates.
According to the first indications available, the Parisian CAC 40 could gain 0.49% at the opening. Futures are reporting a gain of 0.37% for the Dax in Frankfurt, 0.48% for the FTSE in London and 0.43% for the EuroStoxx 50.
The Federal Reserve (Fed) meeting minutes showed on Wednesday that central bank officials signaled in September that they could start cutting back on purchases of securities in the markets in mid-November or mid-December and that several of them feared that the rise in inflation would persist longer than expected.
The inflationary risk is indeed far from having disappeared after the publication of a rise in consumer prices of 5.4% over one year last month in the United States and the historic increase in producer prices in China. .
“Supply chain disruptions as well as rising energy prices are expected to keep inflation expectations high for some time to come, a trend the markets seem to be underestimating,” says Michael. Hewson, CMC Markets Analysis.
The market will take notice of producer prices in the United States at 12:30 GMT, along with the weekly jobless claims.
A series of American results could also animate the session on Wall Street, in particular those of Bank of America, Citigroup, Wells Fargo and Morgan Stanley.
A WALL STREET
The S & P-500 and the Nasdaq ended higher Wednesday in the wake of big technology stocks and after the publication of the “minutes” of the Fed.
The Dow Jones index ended almost stable at 34,377.81 points, slowed down by JP Morgan (-2.6%) after the publication of its results, however marked by a profit above expectations.
The S & P-500 gained 0.33% to 4,364.85 points and the Nasdaq Composite 0.73% to 14,571.64 points.
For now, futures are suggesting a slight upward opening.
On the Tokyo Stock Exchange, the Nikkei advanced 1.38%, the growth of the Nasdaq favoring the semiconductor manufacturer Tokyo Electron (+ 5.16%) and other major technology stocks.
Chinese markets are losing ground after news of the largest increase in producer prices in September since the statistic began 25 years ago.
The CSI 300 index lost 0.4%.
RATES / CHANGES
The dollar is practically stable against a basket of benchmark currencies and the euro is trading around 1.159.
Ten-year US Treasury yield unchanged at 1.5508
Oil prices are benefiting from the announcement by the American Petroleum Institute (API) of a sharper-than-expected decline in reserves of gasoline and other distilled products in the United States last week.
The barrel of Brent gained 0.78% to 83.83 dollars and US light crude 0.77% to 81.06 dollars.
(Report Laetitia Volga, edited by Jean-Stéphane Brosse)