(Paris) World stock markets rose on Wednesday, benefiting from the fall in interest rates after disappointing leading indicators of activity in Europe.
Europe continues a new rising session: around 6:40 a.m. (Eastern time), Paris gained 0.31%, Frankfurt 0.39%, Milan 0.46% and London 0.91%.
Wall Street was also heading for a positive open, after a mixed session on Tuesday: futures for all three major indices rose between 0.3% and 0.5%.
In Asia, the Tokyo Stock Exchange rose 0.48%, and Hong Kong gained 0.31%. Conversely, Shanghai lost 1.34%.
The biggest moves are taking place in the bond market, with a sharp decline in government bond interest rates on both sides of the Atlantic, amplifying Tuesday’s trend.
The interest rate on the German 10-year bond fell to 2.53%, from 2.64% at the last close. This is its lowest level since August 10.
The US interest rate was hovering around 4.27%, down from 4.33% on Tuesday.
They react to the publication of leading indicators on activity. In Europe, the picture drawn up is once again not very bright.
The decline in private sector activity in the euro zone worsened in August, with the poor health of the manufacturing industry now reaching services companies, amid persistently weaker demand, according to the Flash PMI. posted by S.
Concern persists about consumption and investment by households and businesses, held back by the tightening of monetary policy by the European Central Bank (ECB) and the gloomy outlook.
These figures “have caused bond yields to fall and pose a real problem for the European Central Bank”, notes Neil Wilson, analyst at Finalto.
While the ECB must ensure that the pace of inflation continues to decline, it must also ensure that it does not send the euro zone into recession. This last consideration may lead it to be less prompt in keeping its rates high in the coming months.
Data for the United States is expected shortly after Wall Street opens.
In addition, Nvidia’s results (0.96% in pre-market trading), expected after the close of US markets, which will be a point of attention throughout the session, will confirm (or not) whether the boom in artificial intelligence (on the stock market) is coming to an end “or if the theme is here to stay”, underlines John Plassard, investment specialist at Mirabaud.
The company has seen its value triple on the stock market since the beginning of the year, to the point of becoming the 6th largest in terms of valuation in the world, around 1,160 billion dollars.
Also starting Thursday is the meeting of central bankers in Jackson Hole, where keynote speeches are expected on Friday.
Swiss pharmaceutical group Roche rose 5.32% on Wednesday after acknowledging that a preliminary trial of one of its major lung cancer drugs had been leaked. The preliminary results revealed, although “unripe” according to the company, show the effectiveness of its product, tiragolumab.
Gloomy economic data weighed on oil: around 6:20 a.m. (ET) a barrel of Brent fell 1.23% to $82.99 and a barrel of US WTI fell 1.24% to 78.65. dollars.
They also penalized the euro: it fell by 0.34% to 1.0809 dollars for one euro.
The price of European gas relaxed (-8.07% to 39.45 euros per megawatt hour) after reaching a two-month high on Tuesday, close to 45 euros, pushed by growing concerns that a strike in Australia could disrupt the country’s liquefied natural gas supply.
Bitcoin gained 0.51% to $26,020.