MARKET POINT-A new cautious session is coming in Europe (updated) – 03/25/2022 at 08:46

(Photo credits: Adobe Stock -)

(Photo credits: Adobe Stock -)

(Updated w/ Futures Contract, Saxo Bank Commentary, China Markets Close, European Bond Market Open)

  • No clear trend in sight for major European indices
  • Wall Street gained between 1% and 1.9% on Thursday
  • US 10-year bond yield continues to rise

by Laetitia Volga

PARIS, March 25 (Reuters) – Europe’s main stock markets are expected to show little change at the open on Friday as caution remains over the situation in Ukraine at the start of the weekend.

Futures contracts point to a 0.11% rise for the Parisian CAC 40 .FCHI in early trades, -0.04% for the Frankfurt Dax .GDAXI and down -0.2% for the London FTSE .FTSE .

The European actions ont fini jeudi en order dispersé mais sur de faibles écarts alors que la guerre en Ukraine enter dans son deuxième mois et que les pays occidentaux s’engageaient à Bruxelles à renforcer leur aide à l’Ukraine tout en imposant de nouvelles sanctions contre Russia.

Also read: The West united behind kyiv, rejects Moscow’s demand on the ruble

“The market is indecisive and this is going to continue. The market lacks a bullish catalyst (…) The latest economic indicators (in particular, the business climate published by INSEE) confirm that growth in Europe is slowing down “The United States is not spared. The slowdown in jobs is not yet fully priced in. Therefore, it is advisable to be very careful in the short term and choose stocks that can weather recessions,” Saxo Bank wrote in a note. .


Stock market: values ​​to follow in Paris and Europe


A WALL STREET

The New York Stock Exchange closed higher on Thursday, taking advantage of gains in chipmakers and high-growth stocks to rally again, on the sidelines of falling oil prices.

The Dow Jones Index .DJI gained 1.02% to 34,707.94 points, the S&P-500 .SPX took 1.43%, up to 4,520.16 points and the Nasdaq Composite .IXIC it advanced 1.93% to 14,191.84 points.

Futures point to a flat session to end the week.

IN ASIA

On the Tokyo Stock Exchange, the Nikkei .N225 gained 0.14%, it had its ninth consecutive session in the green, its longest streak of gains since September 2019. For the week, the index gained 4.9%.

Chinese stock markets have been overwhelmed by concerns about the listing of Chinese companies on Wall Street.

The US authority responsible for overseeing the accounting of listed companies said on Thursday it was unsure whether to obtain auditing documents required by a new US law on foreign companies from Beijing.

The CSI 300 Index .CSI300 Chinese large caps fell -1.8% and Hong Kong’s Hang Seng .HSI fell -2.53%.

QUALIFY

In the bond market, the 10-year US Treasury yield US10YT=RR rose 2.5 basis points to 2.3648%.

In early trading, the ten-year German Bund Yield DE10YT=RR is holding steady at 0.527% after hitting a more than three-year high on Thursday at 0.555%.

CHANGES

The dollar yields -0.22% against a basket of international currencies .DXY and the euro rises to 1.1026 dollar EUR= .

The yen rallied -0.49% against the dollar after hitting a low since December 2015 in early trading. JPY=

Despite the rebound of the day, the Japanese currency loses for the moment more than 2% in the week as a whole, penalized by the rebound in energy prices, which pushes up import costs, and by the growing divergence between the monetary policy of Japan and that of the United States where the Federal Reserve seems to be moving towards an increasingly restrictive trend.

Bank of Japan Governor Haruhiko Kuroda on Friday reiterated that a weak yen is good for the economy, brushing aside fears that currency depreciation will do more harm than good for this resource-poor, resource-dependent country. imports.

PETROLEUM

Variations are limited in the oil market after the absence of a European announcement on the embargo of Russian hydrocarbons due to the dependence of certain countries on fossil fuels from Russia.

Brent LCOc1 falls -0.3% to $118.67 a barrel and US light crude (West Texas Intermediate, WTI) CLc1 -0.36% to $111.93.

PRINCIPAUX INDICATEURS ÉCONOMIQUES À L'AGENDA DU 25 MARS
 PAYS    GMT    INDICATEUR                     PÉRIODE     CONSENSUS     PRÉCÉDENT
 DE      09h00  Indice Ifo du climat des       mars        94,2          98,9
                affaires                                                 
 EZ      09h00  Masse monétaire M3             février     +6,3%         +6,4%
                - crédit aux entreprises                   +4,6%         +4,4%
                - crédit aux ménages                       n.d.          +4,3%
 US      14h00  Indice de confiance du         mars        59,7          59,7
                Michigan définitif                                       
 

 (édité par Myriam Rivet)
 ((Rédaction de Paris; +33 1 49 49 50 00;))
 
((Les valeurs à suivre à la Bourse de Paris et en Europe  WATCH/LFR ))

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