(Paris) World stock markets rose on Thursday, the day after the spectacular results of processor giant Nvidia, which pulled the technology sector up, while bond interest rates stabilized after a sharp drop at the start of the week.
On Wall Street, the NASDAQ is reported up 1.1% at the open, according to its futures contract around 7:40 a.m. EST, and the S
As for Nvidia, whose results exceeded expectations, its stock climbed 8% to more than 500 dollars in electronic trading before the opening, an unprecedented level.
In the second quarter, the Californian group doubled its turnover and multiplied its net profit over one year by 9.4. For the current quarter, Nvidia forecasts approximately $16 billion in revenue, a figure beyond expectations.
“Market expectations were very high, the results were extraordinary, the forecast for this quarter is equally astounding […]. There’s nothing more an investor could ask for,” commented Ipek Ozkardeskaya, an analyst at Swissquote Bank, adding that this confirms “that all the talk around the AI madness was not in vain, after All “.
European indices had started the session sharply higher, supported by falling rates. But these then returned to their level of the day before, pushing the stock markets to slow down. Around 7:40 a.m. (Eastern time), Paris rose 0.30%, London 0.29%, Frankfurt took 0.24% and Milan 0.35%.
The interest rate on German 10-year debt stood at 2.52%, the same level as at the close on Wednesday, thus falling from its high of last week at 2.71%.
In Asia, the Hong Kong Stock Exchange, where Chinese tech giants are listed, climbed 2.05% and Tokyo rose 0.87%.
Shares in the semiconductor sector are progressing all over the world in the wake of Nvidia: STMicroelectronics took 1.22% in Paris, Infineon 0.96% in Frankfurt, ASML 0.72% in Amsterdam. TSMC gained 2.17% in Taiwan, Semicondutor Manufacturing International Corp 4.49% in Hong Kong and Advantest 1.60% in Tokyo.
Since the beginning of the year, Nvidia’s stock has more than tripled and the company has entered the very closed circle of companies worth more than a trillion dollars on the stock market (including Apple, Microsoft, Amazon and Alphabet).
In addition, investors will direct their gaze to Jackson Hole where the annual conference of central bankers begins on Thursday.
The Turkish central bank surprised Thursday by raising its key rate sharply, from 17.5% to 25%, in order to prevent a rebound in inflation.
The Istanbul Stock Exchange’s BIST 30 index climbed 3.40% on the heels of the announcement, and the Turkish lira rose 1.61% against the dollar to 26.76 pounds to the dollar around 7:40 a.m. ( Eastern Time), returning to a level not seen since July 18.
European natural gas was down sharply around 7:35 a.m. EST as the union at a major Australian gas field reached a tentative agreement with energy giant Woodside, ruling out the possibility that a strike in Australia disrupts liquefied natural gas supply.
The benchmark European contract lost 11.59% to 32.52 euros per megawatt hour, while it approached 45 euros on Tuesday.
Oil prices meanwhile edged up on Thursday after weekly U.S. crude inventories dwindled, but remained broadly caught between fears over Chinese demand and OPEC production cuts.
The barrel of Brent for delivery in October took 0.34% to 83.49 dollars and that of West Texas Intermediate (WTI) at the same maturity rose by 0.22% to 79.06 dollars.
The euro was stable (-0.09%) at 1.0853 dollars per euro.
Bitcoin was down 0.28% at $26,510.