(Paris) European stock markets rose Thursday in line with their trend at the start of the week, with fears about the banking sector continuing to dissipate among investors who are returning to the fight against inflation.
After three sessions of increases, the European markets continue: around 3:15 a.m. (Eastern time), Paris rose by 0.78%, London by 0.31%, Frankfurt by 0.96% and Milan by 0.85 %.
“The gradual return to calm in the banking sector and the revival of the technology sector are strong arguments” to support the trend, says John Plassard, investment specialist for Mirabaud.
Wall Street finished sharply higher on Wednesday, with gains of 1.79% for the NASDAQ and 1.00% for the Dow Jones.
The mood is more mixed in Asia: Shanghai gained 0.66% and Hong Kong was up 0.37% in the latest trade, but Tokyo ended down 0.36% – a move however linked to the ex-dividend of Japanese companies ending their annual financial year on March 31.
“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 fell sharply: the rate of the German 10-year loan was trading at 2.23% around 3:05 a.m. (Eastern time), against 2.32% on Wednesday at fence.
In Germany, inflation data at the federal level is due at 8 a.m. EST. The trend should be down sharply but still at a high level, by 7.5% over one year taking into account the European harmonized index.
Before that, measures on consumer confidence and the business climate in the euro zone are also expected. In the United States, the latest GDP estimate for the 4th quarter of 2022 will also be published.
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.
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China’s biggest real estate developer by sales, Country Garden, on Thursday reported a loss of more than 800 million euros for the whole of 2022, its first negative result since going public. 15 years ago. The stock was up 0.92%, but its value has more than halved in value in three years.
Real estate is weakened in China by the economic slowdown and by a tightening of regulations which has considerably reduced access to credit for developers since 2020, a trend also illustrated by the poor financial health of the heavyweight of the sector Evergrande.
Oil remained stable: a barrel of Brent North Sea was worth 78.40 dollars (0.15%) and US WTI was worth 73.18 dollars (0.29%) around 3 a.m. (Eastern time).
The euro fell 0.14% against the greenback to $1.0828.
Bitcoin was up 0.76% at $28,610.
