(Paris) World stock markets rose on Tuesday, driven by several indicators showing that the American economy remains solid, at a time when investors doubt the strength of growth in the world.
Wall Street was moving in the green: around 11:50 a.m. (Eastern time), the Dow Jones gained 0.44%, the NASDAQ 0.90% and the S
Long hesitant, European markets have finally taken the same path: Milan gained 0.58%, Paris 0.43%, Frankfurt 0.21% and London 0.11%.
US consumer confidence, the main driver of growth, rose again in June, much more than expected, after falling the previous month to its lowest level since November, with current conditions looking better than before. , according to the index published by the Conference Board.
Moreover, sales of new homes continued to increase in May, but their prices continued to slow, while durable goods orders continued to rise.
The American markets, after very dynamic weeks, had marked time last week in the face of the still martial tone of the central bankers against inflation.
The prospect of still-vigorous growth and a firm response from central banks has pushed government interest rates up again. The US 10-year bond rate rose to 3.76% around 11:40 a.m. EST, from 3.72% on Monday, and the German to 2.35% from 2.31% on Monday. .
On Tuesday, at her institution’s forum in Sintra (Portugal), the President of the European Central Bank (ECB), Christine Lagarde, again assured that “unless there is a significant change in [its] outlook”, the ECB would continue “the rate hike in July.”
On Wednesday, Lagarde will speak again, along with U.S. Central Bank (Fed) Chairman Jerome Powell and Bank of England (BoE) Governor Andrew Bailey.
But investors were also able to be satisfied on Tuesday with the further slowdown in inflation in Canada in May (3.4% year on year), in line with expectations.
In the United States, the PCE index, the Fed’s preferred measure for gauging the country’s inflation, will be published on Friday for the month of May.
In terms of values, the airline Delta took off (3.70%), after raising its forecast for the whole of its financial year thanks to an increase in demand and a decline in fuel costs. This also benefited other airlines, such as American Airlines (4.41%) and United Airlines (4.22%).
The travel sector followed suit, with cruise lines in particular: a jump of 6.30% for Carnival and 3.35% for Royal Caribbean.
In Europe, Lufthansa has a price of 2.89%, IAG 2.61%, Air-France-KLM 1.46%.
The luxury group Kering, which has set its sights on the “high perfumery house” Creed, is banking on this acquisition to allow its new beauty division to reach critical size in a very lucrative and fast-growing market. The stock gained 0.66%, rising in line with other stocks in the sector.
Luxury had jumped more strongly during the first exchanges in Europe, boosted by the good prospects for growth in China drawn up on Tuesday by Chinese Premier Li Qiang.
Oil prices are softening as worries about potential supply disruptions from Russia are being overtaken by those about global economic activity due to high interest rates.
A barrel of Brent North Sea oil, for August delivery, was down 0.89% at $73.52 around 11:30 a.m. EST. Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery the same month, also lost 0.89% to 68.75 dollars.
The price of the benchmark European contract for natural gas, the Dutch TTF, took 9.46% to 35 euros.
The euro advanced 0.50% to $1.0961.
Bitcoin gained 1.50% to $30,620.
