Stock market: what’s happening in the markets ahead of the opening on Friday, May 10


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MARKET REVIEW. Global stock markets continued to rise on Friday, with the flagship indices of Paris, Frankfurt and London hitting new records, driven by hopes of more flexible monetary policy from central banks.

Stock indices at 8:00 in the morning.

London, Frankfurt AND Paris it added 0.8% at the start of the session in Europe.

In New York, before the markets opened, the average Dow Jones industrial shares rose 0.3% and the broader index S&P 500 by 0.4%.

In Asia, Nikkei 225 in Tokyo it added 0.4%. Stock market Shanghai rose by less than 0.1% and Hang Seng in Hong Kong it jumped 2.3%. Sydney took 0.4% and Seoul 0.6%.

On the New York Commodity Exchange, the price is o oil rose 48 US cents to $79.74 a barrel.

THE Canadian dollar ended the day at 73.04 US cents on Thursday, up from 72.81 US cents on Wednesday.

Context

Positive news is piling up for investors, especially regarding economic activity that is gaining strength in Europe. Eurozone PMIs showed a recovery on Monday after a weak start to the year.

The UK emerged from a recession in the first quarter, which it will fall into at the end of 2023. Its gross domestic product (GDP) rose by 0.6% in the first three months of the year, the Office for National Statistics (.ONS) said on Friday.

The recovery of the economy is more pronounced than the forecasts of economists, who expected an increase of 0.4%.

As for central banks, the Bank of England on Thursday kept hopes of a first rate cut in June, as did the European Central Bank. The Swiss and Swedish central banks have already made up their minds.

The slowdown in US employment has allowed them to reconsider cutting rates later in the year with more certainty.

“The European Central Bank and the Bank of England are confident that inflation in their respective zones will continue to slow,” emphasizes Ipek Ozkardeskaya, an analyst at Swissquote.

The data sent bond rates down sharply in the United States, boosted by a stronger-than-expected rise in jobless claims across the Atlantic.

On Friday, the trend was reflected in Europe: the German 10-year bond rate fell to around 2.47% from 2.49% on Thursday.

In Asia, Hong Kong’s stock market continued its dazzling recovery of recent months, rising 2.30% on Friday. Shanghai finished flat (-0.01%) and Tokyo rose 0.41%.

New York indexes ended higher on Thursday after a shaky start. For its sixth consecutive positive session, the Dow Jones gained 0.85%, while the S&P 500 gained 0.51% and the Nasdaq gained 0.27%. All three indices are near their all-time highs, all set at the start of the year.

ENEL September

Italian energy giant ENEL posted a net profit of 86.8% to 1.93 billion euros in the first quarter, despite a drop in electricity and gas prices. In Milan, its action rose by 3.53%.

IAG cuts his loss

Air Transport Group IAGBritish Airways and Iberia’s parent company narrowed its net loss sharply in the first quarter as “growing demand” for travel boosted its turnover, it said on Friday.

IAG posted a net loss of €4 million for the first three months of the year, compared with €87 million a year earlier. The stock advanced 0.57%.

Oil is also growing

Oil was in the green: a barrel Brent North Sea took 0.37% to $84.19 a barrel US WTI rose 0.47% to $79.63.

euro was steady against the dollar at $1.0783 per euro.

THE bitcoin increased by 0.52% to 62,962 euros.





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