(Paris) Global stock markets are up on Friday before entering the heart of the half-year results season next week, with those of the technology giants in the United States in particular.
In Europe, Paris closed 0.65% higher, London 0.23% and Milan gained 0.14%. Only Frankfurt dropped 0.17%, notably disappointed by the results of the SAP software specialist, heavyweight in the German index.
Over the week, Paris gained 0.79%, Frankfurt 0.45% and London jumped (3.08%), driven by the slowdown in inflation in the United Kingdom.
In the United States, New York stock indices are helped by a rebound in technology stocks.
By 11:50 a.m. EST, the Dow Jones was up 0.27%, the tech-heavy NASDAQ was up 0.23%, and the broader S
Currently at nine daily gains in a row, the Dow Jones has not chained ten consecutive sessions in the green for six years. The all-time high of 14 straight wins dates back to 1896, according to figures provided by Howard Silverblatt of S
On next week’s menu, the markets will notably be awaiting the results of Vodafone, Alphabet, Microsoft, Meta Platforms, Lloyds Banking Group, Barclays, Shell and NatWest.
On the central bank side, on Wednesday the US Federal Reserve “is expected to raise its benchmark interest rate – possibly for the last time this year – by a quarter of a percentage point,” said Michael Hewson of CMC Markets.
“Thursday will be the turn of the European Central Bank to decide whether to raise rates, followed by the Bank of Japan on Friday,” the analyst continued.
On the bond market, sovereign yields eased slightly. The German 10-year rate was at 2.45% around 11:45 a.m. (Eastern time) against 2.48% at the close the previous day, the American at the same maturity was at 3.81% against 3.85%.
Software giant SAP fell 4.30% in Frankfurt at the close after slashing its full-year forecast for cloud revenue. Its operating profit, however, jumped nearly 30% in the second quarter (in international IFRS standards), it announced Thursday evening.
The Dow Jones’ advance was limited by American Express (-3.52% by 11:45 a.m. EST), down sharply despite quarterly net profit beating expectations.
Alphabet was wanted on Wall Street and earned 0.69%. According to several American media, one of the two co-founders of Google, Sergey Brin, has decided to get involved again in the operational activity of the group, in particular in projects related to artificial intelligence.
Oil continued to rise on Friday, pushed by production cuts by the two heavyweights of the Organization of the Petroleum Exporting Countries and their allies (OPEC), Saudi Arabia and Russia, but also by possible support for the Chinese economy.
Around 11:45 a.m. EST, a barrel of Brent North Sea crude for September delivery was up 1.09% at $80.51.
Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery the same month, of which it is the first day of use as a reference contract, gained 1.20% to 76.56 dollars.
The euro fell slightly by 0.12% to 1.1116 dollars.
Bitcoin was up 0.41% at $29,861.
