Shares are rising in anticipation of US GDP

from Leticia Volga

PARIS (Reuters) – Wall Street is expected to open higher as European stocks rose in the middle of Thursday’s session, with quarterly corporate accounts generally well-received in both Europe and the US, boosting investors’ risk appetite. assets before the release of leading indicators.

Index futures increase 0.85% for Dow Jones, 1.58% for Standard & Poor’s-500 and 2.23% for Nasdaq, which should benefit from good results published on Wednesday by Meta Platforms, owner Facebook.

In Paris, CAC 40 rose 1.66% to 6551.99 at about 11:15 GMT. In Frankfurt, Dax receives 1.56%, and in London, FTSE receives 1%.

The pan-European FTSEurofirst 300 index rose 1.07%, the EuroStoxx 50 eurozone rose 1.64% and the Stoxx 600 rose 1.11%.

Technology stocks are in the spotlight on Thursday and are pulling markets up after results that Meta found reassuring, saying the number of daily active Facebook users in the first quarter was higher than expected, up 17.7% in the previous quarter. -market trade.

“Early in the earnings season, the markets were pretty scary, but Meta’s results seem to have calmed the situation,” said Caspar Hense, Bluebay Asset Management’s portfolio manager.

Investors do not forget about various topics that concern the markets for weeks or even months, namely the war in Ukraine, the COVID-19 crisis in China, monetary policy and inflation.

At 12:00 GMT, they learn about the first estimate of the consumer price index in Germany, which, according to the Reuters consensus, could stabilize at 7.6% in one year in April.

The half-hour publication of the United States’ gross domestic product (GDP) in the first quarter is another major macroeconomic meeting of the day.

Economists polled by Reuters expect growth of 1.1% year on year, which will mean a sharp slowdown after 6.9% in the last three months of 2021 and the weakest growth since the recession caused by the pandemic.

VALUABLE VALUE STREET VALUES

After Meta growth stocks such as Apple, Amazon, which will publish their results after closing, Microsoft and Tesla are reported from 1.7% to 3.4%.

Semiconductor maker Qualcomm is ahead of the stock market by more than 8%, as evidenced by better-than-expected quarterly results and forecasts.

VALUES IN EUROPE

In Europe, the technology sector grew by 2.99%, one of the highest growth rates of the day.

At the top of CAC 40 are three components of this compartment: Capgemini (+ 3.86%), after growing in the first quarter, Dassault Systèmes (+ 5.69%), which benefits from a positive Barclays rating, has moved to overweight », And Atos scored 5.46%.

TotalEnergies rose 3.94% after announcing a new share buyback in the first three months of the year.

In London, Standard Chartered jumped 15.32% after bypassing the consensus.

Unibail-Rodamco-Westfield lost 1.77% despite an increase in quarterly sales to 734.5 million euros.

CHANGES

The yen fell below $ 130 a dollar for the first time in twenty years after the Bank of Japan (BoJ) stepped up its commitment to an extremely free monetary policy, pledging to buy an unlimited number of bonds every day to defend its return target.

Against the basket of currencies, the dollar rose by 0.63%, the highest figure since January 2017, due to differences between the monetary policy of the Fed and the Bank of Japan.

The euro fell 0.58% to below $ 1.05.

RATE

Changes in the bond market are limited in anticipation of monthly German inflation (12:00 GMT) and US GDP in the first quarter.

The yield on ten-year treasury bonds was stable at 2.8167%, while the yield on the German bank rose by one basis point to 0.822%.

OIL

Oil prices are falling due to concerns about falling demand in China, the world’s largest oil importer, with restrictions in the country against COVID-19.

Brent fell 0.47% to $ 104.82 a barrel, while West Texas Intermediate (WTI) fell 0.48% to $ 101.53.

(Leticia Volga, edited by Jean-Michel Belo)