(Paris) Asian stocks rose on Friday, following a sharp rise in Wall Street and a dovish decision by the Japanese central bank, while Europe fell a little after a higher opening.
Tokyo gained 1.40% as initial gains were amplified by decisions by the Japanese central bank: if it plans to launch a thorough review of its currently ultra-accommodative monetary policy, it will take between 12 and 18 months, a- she announced on Friday. Changes may occur in the meantime depending on the situation, recalled the governor during a press conference.
Moreover, industrial production and household consumption increased in March, auguring growth in Japan’s gross domestic product (GDP) in the first quarter.
In China in the latest trade, Shanghai gained 1.14% and Hong Kong 0.82%.
After opening in the green, the trend is more mixed in Europe in the first exchanges: Paris falls by 0.15%, London by 0.11%, Milan by 0.29% while Frankfurt rises by 0.35% towards 3:20 a.m. EST.
On Thursday, Wall Street finished with a bang: the Dow Jones gained 1.57%, the NASDAQ index gained 2.43% and the broader index S
“Activity is holding up well thanks to still-dynamic consumption, even if it slows down during the 1st quarter and companies are becoming more cautious in their spending,” note analysts at Banque Postale AM.
The session could repeat itself on Friday: Amazon’s results, released after the close, were well received and investors are bracing for inflation figures in the US PCE indicator.
They are particularly expected as the US Central Bank meeting approaches on Tuesday and Wednesday. Beyond the increase in key rates taken for granted by market players, they want to have more information on the rate trajectory for the second half.
Before that, inflation and GDP in Europe will animate investors. In France, it reaccelerated to 6.9% over one year in April according to the European harmonized index (5.9% according to the INSEE measurement), a higher rate than expected.
In the government bond market, rates fell slightly after their rebound the day before.
Automaker Nissan (2.37%) raised its profit forecast for its 2022/23 full-year fiscal year ending March 31 on Thursday, but lowered its full-year revenue forecast.
Mercedes-Benz (1.13%) said it increased its net profit by 12% in the first quarter of this year to 4.01 billion euros, thanks in particular to an increase in sales of its most high-end models in which it makes the most margin.
The Swedish household appliance group Electrolux announced Friday new losses in the first quarter, but less than expected thanks to the first effects of a major savings plan launched at the end of last year. The stock rose 6.39% in early trading, one of the best performers on the European EuroStoxx600 index.
The yen fell more than 1% against the dollar and the euro after the Japanese central bank decided to maintain the status quo for at least another year on its ultra-accommodative monetary policy. A dollar is worth 135.79 yen around 3:10 a.m. (Eastern Time).
Bitcoin fell 0.53% to $29,475.
The price of oil was trying to rebound after falling during the week below the level that had justified cuts in the production of important exporting countries in April.
The barrel of Brent North Sea took 0.60% to 78.84 dollars and that of American WTI 0.37% to 75.04 dollars around 3 a.m. (Eastern time).
