(Paris) The world markets, wait-and-see, ended around equilibrium on Monday, at the start of a week which will be marked by the results of the American technological giants and by a series of macroeconomic indicators.
In Europe, the markets ended their session almost stable. London ended in equilibrium (-0.02%), as did Paris (-0.04%), which set an all-time high in the session. Frankfurt fell slightly by 0.11% and Milan dropped 0.75%.
On Wall Street, the tech-heavy NASDAQ dropped 0.12%, the S
“It’s a quiet session, it’s time for caution, we expect a fairly rich week in corporate publications and major indicators that could fuel market optimism,” summarizes Ilana Azuelos-Bossard, Deputy Director at Kiplink Finance.
In the line of sight on the results front, there will be Santander, Unilever, Sanofi and TotalEnergies in Europe. As for the tech giants in the United States, Microsoft, Boeing, Meta and Amazon are expected among others.
On the economic indicators side, “US Gross Domestic Product (GDP) growth, Eurozone GDP growth and German inflation” will be scrutinized by the markets, she noted.
But what will “obviously focus all the attention of the markets” will be above all the meeting of the American Central Bank on May 1 and 2, continues Ms. Azuelos-Bossard. On May 4, it will be the turn of the European Central Bank to meet.
In the United States, data on economic activity “suggest that inflation is slowing and the impact of the banking crisis is already clearly visible. It is not over-interpretation to conclude that a pause will be desirable after a final hike in the Fed’s key rate” at the next meeting, explains Gilles Moëc, chief economist of Axa Investment Managers.
Conversely in Europe, the economic slowdown “can be detected under the microscope” and the idea that there is more left that “a rate hike is easier to sustain”, added Gilles Moëc.
The week started with results from Coca-Cola, which reported higher first-quarter revenue on the back of volume sales growth and price increases, which it expects to continue in 2023.
The maker of Sprite and Fanta posted a 5% increase in earnings per share excluding exceptional items, a figure above expectations.
The action of the Atlanta group gleaned 0.09% around 3:50 p.m. The results of its competitor PepsiCo are expected on Tuesday.
Credit Suisse announced massive new cash withdrawals and a sham quarterly profit on Monday, showing the “urgency” of the restructuring that awaits UBS, which bought the bank in turmoil under pressure from Swiss authorities.
In Zurich, Credit Suisse shares gained 0.63% and UBS 0.78%.
On the oil side, around 11:45 a.m. (Eastern time), a barrel of Brent from the North Sea for delivery in June gained 1.29%, to 82.72 dollars. Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery the same month, took 1.23%, to 78.83 dollars.
On the foreign exchange market, the dollar retreated against several other currencies. The euro was worth 1.1023 dollars (0.33%).
Bitcoin was down 0.94% at $27,249.