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MARKET REVIEWS. World stock markets are on hold on Wednesday before the publication of the inflation index (CPI) for the month of April in the United States, crucial for expectations regarding the policy of the American central bank in the coming months.
Stock market indices at 8:15 a.m.
Paris added 0.1% at the start of the session in Europe and Frankfurt 0.2%. In London, the FTSE100 took 0.5% to reach a new high.
In New York, before the markets opened, the average Dow Jones Industrial stocks and the broader S&P 500 index fell less than 0.1%.
In Asia, the Nikkei 225 added 0.1% on Wednesday in Tokyo. The stock market of Shanghai fell by 0.8%. Sydney took 0.4%. Hong Kong And Seoul were closed for a holiday.
On the New York Commodity Exchange, the price of oil advanced 46 US cents to US$78.48 per barrel.
In the currency market, the Canadian dollar traded at 73.24 US cents on Tuesday, compared to 73.14 US cents the day before.
The context
On Wall Street, futures for the three major indexes were moving ahead of the open. But the trend could change sharply with the publication of inflation data in April in the United States, scheduled for 8:30 a.m., an hour before opening.
This index surprised on the rise during the first three months of the year. In March, according to the CPI, inflation continued to accelerate in the United States, to 3.5% year-on-year compared to 3.2% in February.
As a result, the American Central Bank had toughened its speech and investors, who were counting on a first cut in key rates in June, erased this idea.
Fed Chairman Jerome Powell said Tuesday that persistently high inflation had reduced his level of confidence that it could get closer to the target.
“What this tells us is that we need to be more patient and let the restrictive policy take effect,” the US official said at an event in the Netherlands.
On the bond market, interest rates on US loans were falling, as were those of European states.
Profitable Commerzbank
Commerzbank (+3.72% in Frankfurt) reported its best quarterly net profit in more than 10 years on Wednesday, helped by high interest rates which should bring it more revenue over the year than expected.
The second largest German bank, partly owned by the State after its rescue in 2008, confirms its return to profitability after years of restructuring.
Compass confused
The British catering giant Compass fell 3.06%, after warning that volume growth was expected to slow, despite the publication of net profit up 13% to $861 million for its staggered first half.
The British group Experianspecializing in personal data management and credit rating, soared 7.49% after publishing net profit up 56% to $1.2 billion and a dividend up 7% for its annual financial year ended March 31.
Thyssenkrupp revises its forecasts downward
The German industrial group Thyssenkrupp (-1.76%) lowered its annual forecasts on Wednesday due to persistent difficulties in its steel and materials subsidiaries, weighed down by sharp drops in prices and volumes for several months.
In February, the group had already drastically reduced its expectations for the same reasons.
Fall in oil prices
Oil prices fell on Wednesday, before the publication of weekly data on commercial reserves in the United States.
The barrel of Brent lost 0.22% to US$82.20 and a barrel of American WTI 0.18% to US$77,884.
The euro gained 0.05% to US$1,082.44 per euro.
THE bitcoin took 1.92% to US$62,760.
