(Paris) In the aftermath of a very marked session in the red, the world stock markets are moving in dispersed order on Friday, hesitant and cautious before a new indicator on American employment that investors consider important for the orientation of bank policy power stations.
After spending a good part of the morning in negative territory, the European stock market indices went up the slope and ended up rebounding at the start of the afternoon, after a very difficult session the day before. Around 7:30 a.m. (Eastern time), Paris took 0.52%, Frankfurt 0.49% and Milan 0.57%. Only London was down a small 0.20%.
Asian markets did not have time to rebound and ended in the red: Tokyo (-1.17%) and Hong Kong (-0.90%) closed sharply lower, while Shanghai ended at – 0.28%.
On the American side, Wall Street was heading towards an opening at equilibrium. Futures contracts for the three main New York stock indices were dropping between 0.03% and 0.13% around 7:30 a.m. (Eastern time).
Thursday’s U.S. payrolls report — which came in twice as high as expected — had already “convinced financial markets that central banks would raise rates again to fight inflation,” explain the Kiplink analysts, so that the rates on the bond market had exploded and the investors had abandoned the equity markets, the European stock markets even recording their worst session since March 15.
“Global equity indices continued to fall on Friday,” before rising slightly in Europe as investors were cautious and “seeking safety amid growing uncertainty,” noted ActivTrades analyst Pierre Veyret.
“The decline in trading volumes due to the summer period, combined with the risks that continued aggressive central bank stances pose to corporate growth and earnings, makes the overall environment very discouraging for equity investors,” said he.
For the rest of the session, all eyes will be on the US monthly jobs report released on Friday afternoon, with investors hunting down any clues that could influence US central bank (Fed) policy and those other world economic powers.
“Higher-than-expected numbers should allow the Fed to continue its tightening campaign,” Veyret decrypts, “while lackluster numbers should raise hopes in a more dovish tone and ease some pressure on investors.” shares”.
Awaiting this key report, interest rates continued to edge slightly higher in the bond market, following their surge the previous day: around 7:15 a.m. EST, the UK 10-year rate reached 4.68%, up slightly from Thursday (4.65%), when it had already reached a high since 2008.
The American 10-year rate (4.06% against 4.03% the day before) and the German rate (2.63% against 2.62%) continued to tighten, while the French remained stable, at 3.18% .
German industrial conglomerate Thyssenkrupp saw its share price climb 3.40% around 11:35 a.m. after listing its hydrogen plant subsidiary, Thyssenkrupp Nucera, on the Frankfurt Stock Exchange on Friday.
The start of Thyssenkrupp Nucera’s stock market journey looks promising: trading at EUR 20.20 on its first listing at 3:15 a.m. EST, already above the IPO price set at EUR 20.0, the Dortmund group price was changing mid-morning at 21.22 euros.
Oil prices advanced on Friday, further boosted by good news from US demand for refined products.
Around 7:20 a.m. EST, a barrel of Brent North Sea crude for August delivery was up 0.37% at $76.81.
Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery the same month, gained 0.46% to 72.13 dollars.
The foreign exchange market was also quiet ahead of the US employment figures. The euro was flat (0.01%) against the dollar at $1.0890.
Bitcoin was losing ground, losing 0.52% to $30,157.15.