Europe maintains the upward pace of the last sessions on Wednesday, while Wall Street declines with the rise in rates and mixed corporate results in tech.
In Europe, London increased by 0.28% around 3:40 p.m. after reaching a new record during the session. Frankfurt took 0.14% and Paris advanced 0.69%, in reduced trading volumes due to a public holiday. Milan lagged behind (-0.61%). In Zurich, the SMI gained 0.67%. European markets are also supported by less bad than expected figures for German industrial production in March, which fell by 0.4% over one month. Analysts surveyed by Bloomberg expected -0.7%.
“Risk appetite is further fueled by solid macroeconomic data, solid profits and the prospect of rate cuts in the United States,” comments Pierre Veyret, analyst at ActivTrades.
On Wall Street, the day after a mixed session interrupting a series of increases, the indices were poorly oriented: the S&P 500 fell by 0.29%, the Nasdaq by 0.59% and the Dow Jones was stable. On Wednesday, investors will listen to the speeches of members of the American Federal Reserve (Fed), including Governor Lisa Cook, looking for clues on the Fed’s intentions regarding its key rates in the months to come .
On the bond market, sovereign interest rates are increasing slightly in Europe and the United States after several sessions of decline. That of the ten-year German bond stood at 2.47% around 1:30 p.m. GMT compared to 2.42% on Tuesday.
Uber stopped
The digital VTC and meal delivery platform Uber fell by more than 7% in early trading on Wall Street after disappointing its results published a little earlier. Shares of the online commerce platform Shopify fell by 20%. The dating application group Match also fell 10.27% after its publication.
Conversely, Reddit (+6.70%) excited investors, hoping to achieve operational profitability from the second quarter.
The action of the German football club Borussia Dortmund climbed 7.27% in Frankfurt the day after its victory against Paris Saint-Germain in the semi-final second leg of the Champions League (1-0), which qualifies the German team for the final. The club’s equipment manufacturer, Puma, also soared by 9.37%. It published results on Wednesday in line with analysts’ estimates.
The Alliance Pharma group listed in London fell by 13.91% after once again postponing the publication of its annual results, without giving a date, and after announcing the appointment of a new general manager.
Conversely, the British energy services and consulting group John Wood soared by more than 14% after rejecting a takeover offer worth more than 1.4 billion pounds (more than 1.6 billion euros). ‘euros), considered too low.
Oil decline
Oil prices fell around 1:25 p.m. GMT, the geopolitical risk premium fading with hopes of a truce between Israel and Hamas.
The price of a barrel of Brent from the North Sea for delivery in July fell 0.72% to 82.56 dollars and its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery in June, lost 0.70% at $77.83.
On the foreign exchange market, the yen continued its descent against the dollar (-0.58%) to 155.61 yen per dollar. As for the euro, it fell by 0.07% against the dollar, to 1.0747 dollars per euro. Bitcoin was worth $62,085, down 1.41%. (AWP)
