(AP Photo/Ahn Young-joon)
MARKET REVIEWS. Global stock indices continue to move in positive territory on Tuesday, with the market focused on corporate results ahead of an indicator of activity in the United States.
Stock market indices at 8:00 a.m.
Futures contracts Dow Jones rose by +69.00 points (+0.18%) to 38,307.00 points. Futures contracts S&P 500 advanced +11.75 points (+0.23%) to 5,179.25 points. Futures contracts Nasdaq increased by +51.25 points (+0.28%) to 18,230.50 points.
In London, the FTSE100 collected +22.89 points (+0.29%) to 8,046.76 points. In Paris, the CAC 40 rose by +44.08 points (+0.55%) to 8,084.44 points. In Frankfurt, the DAX advanced +183.93 points (+1.03%) to 18,044.73 points.
In Asia, the Nikkei of Tokyo advanced +113.55 points (+0.30%) to 37,552.16 points. For his part, the Hang Seng Hong Kong ended up +317.24 points (+1.92%) at 16,828.93 points.
On the oil side, the price of a barrel of American WTI fell -US$0.28 (-0.33%) to US$85.38. The barrel of North Sea Brent retreated -US$0.08 (-0.09%) to US$90.37.
The context
“European stocks rose for the second consecutive session, following the trend recorded in Asia and in a context of growing risk appetite ahead of the publication of results from the technology sector this week,” comments Pierre Veyret, ActivTrades analyst.
Tesla (Tuesday, after trading), Meta (Wednesday), Microsoft and Alphabet (Thursday) are concerned, “their performance should significantly influence market dynamics in the short term”, underlines Stephen Innes, analyst at Spi AM.
On Wall Street, the futures contracts of the three main stock indices suggested an opening slightly higher, between +0.16% and +0.35%.
Activity indicators have been published in the euro zone and are expected in the United States shortly after the opening of local markets.
The Flash PMI published by S&P Global is calculated based on company surveys. A number above 50 shows growth in activity, while a number below indicates contraction.
“Overall, the European economy reached its lowest level at the end of 2023 and is rebounding, but it is mainly driven by services,” emphasizes Christophe Boucher, investment director at ABN AMRO Investment Solutions.
In detail, “the divergence between the manufacturing sector (47.3 in April against 47.1 in March) and the services sector (52.9 against 51.5) continued in April: it is the services which pull the PMIs of the euro zone, unlike what is happening in the United States,”
JD Sports Fashion buys its competitor
British clothing chain JD Sports Fashion announced Tuesday the purchase of its American competitor Hibbett for $1.1 billion, which caused its stock to soar by 6.16% on the London Stock Exchange.
SAP jumps in Frankfurt
The software giant SAP (+4.44%), first capitalization of the flagship German DAX index, increased its turnover by 8% from January to March, to just over eight billion euros, thanks to cloud computing activity .
Stifel analysts hailed “a strong set of first-quarter numbers.”
These results reassure “investors in the idea that SAP’s revenue momentum should remain strong over the coming quarters, despite a difficult macroeconomic environment,” according to them.
Novartis reports higher net profit
The Swiss pharmaceutical giant Novartis (+4.59% in Zurich) published a net profit up 14% in the first quarter, to nearly 3.7 billion US dollars.
Oil stabilizes
Oil prices were stabilizing in the absence of new geopolitical developments in the Middle East.
The price of a barrel of North Sea Brentfor delivery in June, was at US$86.92 (-0.09%).
Its American equivalent, the barrel of West Texas Intermediate (WTI)for delivery in the same month, of which it is the first day of use as a reference contract, was worth US$81.77 (-0.15%).
On the foreign exchange market, the euro was stable (+0.02%) at US$1.0657, and remained in the green against the main currencies.
On the bond market, the yield on ten-year American bonds stood at 4.61%, like the day before.
The star of cryptocurrencies, the bitcoinfell 0.35% to US$66,302.
