(Paris) European stock markets rose again on Thursday in line with their trend at the start of the week, with the first good news on inflation in the euro zone extending the rebound initiated by the drop in tensions on the banks.
After three sessions of increases, the European markets continued: around 7:15 a.m. (Eastern time), Paris rose by 1.34%, London by 0.94%, Frankfurt by 1.23% and Milan by 1.25 %. Over the first four sessions of the week, they gain between 3.1% and 4.6%.
Wall Street is also preparing to open higher, around 0.6% according to the futures of the three main indices at the same time, confirming the sharp gains on Wednesday.
“It is hard to guess that there is still underlying banking stress, which threatens the accessibility of credit and a potential recession”, also describes Ipek Ozkardeskaya, analyst Swissquote Bank.
With the data to come, attention will even turn to the main theme of the markets for more than a year: inflation, at the center of the publications which will be linked for two days.
First good news for investors: it experienced a spectacular drop in March in Spain to 3.3% over one year compared to 6% in February, due to a drop in electricity and fuel prices, according to an official provisional estimate.
On the bond market, the rates of European countries remained stable after falling sharply at the start of the session.
In Germany, data at the federal level is expected at 8 a.m. (Eastern time) but already, in several regions, “the decline in inflation is confirmed”, noted Alexandre Baradez, analyst at IG France.
On Friday, inflation data for many European countries – including France –, for the euro zone as well as for the United States (PCE indicator) will animate the session.
In the event of a stronger-than-expected pace of price increases for the headline or core inflation – which excludes volatile food and energy prices – central bankers risk resuming the strong trajectory. rise in rates, a time influenced by the risk of a banking crisis.
The expected decline in the Eurozone should “be mainly due to a strong base effect. Indeed, in March 2022 energy prices rose sharply following the Russian invasion. Thus, mechanically, with energy prices being much lower in March 2023, headline year-on-year inflation is expected to fall,” explains Christophe Boucher, Chief Investment Officer of Abn Amro IS.
Swedish clothing giant H
In London, Ocado took 7.07%, JD Sports 4.16%,
Oil prices rose slightly on Thursday, pushed by signs of increased demand from the United States, the blockage of supplies from northern Iraq, but also by the possible decline in supply Russian.
A barrel of Brent North Sea oil for May delivery was up 0.76% at $78.88 around 7:05 a.m. EST. Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery the same month, gained 0.95% to 73.66 dollars.
The euro gained 0.31% against the greenback, at 1.0878 dollars.
Bitcoin was up 0.75% at $28,605.