(Paris) World stock markets rise again on Thursday thanks to well-received corporate results and with the hope of more flexible central banks in the coming months, a context which allows the Paris Stock Exchange to set a new record .
European stock markets opened higher. Paris gained 0.25%, after having passed the symbolic milestone of 7500 points at the opening for the first time in its history (7507.19 points at the highest of the session). Frankfurt took 0.34%, London 0.17% and Milan 0.43% around 3:10 a.m. (Eastern time).
In Asia, Tokyo gained 1.20%, driven by a standing ovation from investors after the results of ready-to-wear giant Fast Retailing. Shanghai was up 0.61% in the latest trade and Hong Kong was up 0.34%.
Over the week, all these financial centers are up.
The New York Stock Exchange closed in a sharp rebound on Thursday. Gains were 1.14% for the Dow Jones, 1.33% for the S
On Thursday, the evolution of producer prices in the United States, which fell in March compared to February, rejoiced investors.
It “fuels optimism that a similar effect could trickle down to consumer price numbers in the months ahead,” writes CMC Markets analyst Michael Hewson.
This would therefore allow the US Central Bank not only to stop raising its key rates after the next meeting in May, but also to lower them by the end of the year.
The key rate is the main tool of a central bank to try to control inflation, via an increase in the cost of credit, but this policy also leads to a slowdown in the economy.
Investors may see “a series of indicators pointing to a recession in the United States over the course of the year”, but other indicators remain very positive, Deutsche Bank analysts say: “Unemployment remains at its lowest in decades, markets have shrugged off the banking crisis and inflation is showing signs of slowing down.”
Moreover, the quarterly corporate earnings season continues to gain momentum. Several major US banks are expected Friday with JPMorgan, Citigroup and Wells Fargo.
Japanese apparel giant Fast Retailing saw its stock soar 8.49% to its highest level in two years. The owner of Uniqlo stores on Thursday announced record operating profit and sales for the past six months and raised its 2022-2023 annual objectives, expecting a recovery in China in the second half after having benefited from the dynamism of other countries. .
The French luxury group Hermès (0.79%) announced on Friday that it had achieved 3.4 billion euros in sales in the first quarter, an increase of 22% over one year, after a record year 2022.
On Wednesday, LVMH announced a 17% increase in sales, to more than 21 billion euros, which had enabled the entire luxury sector to progress on the stock market on Thursday.
In the foreign exchange market, the euro rose slightly against the dollar, after hitting its highest level in a year on Thursday on investors’ hopes of an end to rate hikes by the US Central Bank. It was trading for $1.1064 (0.16%) around 3:05 a.m. EST.
In the oil market, a barrel of US WTI rose 0.28% to 82.39 dollars around 2:40 a.m. (Eastern time) and that of Brent from the North Sea gained 0.16% to 86, $23 around 3 a.m. EST.
