(New York) Western stock markets ended sharply higher on Friday after the publication of the number of job creations, much higher than expected, in May in the United States, and carried by a possible support plan for the real estate sector in China.
In Europe, the Paris Stock Exchange climbed 1.87%, London gained 1.56% and Frankfurt 1.25%.
In New York, the Dow Jones rose 2.12%, the NASDAQ index rose 1.07% and the broader S
The NASDAQ ended at its highest closing level in 13 months, while the S
“European markets saw a much better trend today after reports that China is considering further support measures for its property market,” notes CMC Markets analyst Michael Hewson.
These measures would “improve the prospects for market support,” said Gilles Guibout, director of European equity strategy at Axa IM, as mid-week economic data from China reflected a recovery in the economy. activity more laborious than expected by investors.
Western stock markets also focused on the health of the labor market in May in the United States: job creations were much more numerous than anticipated by analysts (339,000 against 195,000 expected) and the unemployment rate increased a little, but remains historically low. Wages also continued to rise, but more slowly than before.
“Overall, the signals are somewhat mixed regarding the next move from the US central bank (Fed),” said Christophe Boucher, Chief Investment Officer of ABN-AMRO Investment Solutions.
Overall, “we believe in a soft landing” for the US economy, according to Edward Jones’ Angelo Kourkafas.
“These contrasting data will give the Fed a reason to leave rates unchanged at its next meeting,” on June 13-14, argued Nancy Vanden Houten of Oxford Economics.
Traders expect a further hike in July, which would be the last in this cycle.
According to Angelo Kourkafas, Wall Street’s boost was also due to the relief after the adoption in the Senate Thursday evening of a text which suspends the ceiling of the American debt, after weeks of political crisis.
The surge in equities came at the expense of bonds, which tumbled.
The yield on 2-year US government bonds was 4.49%, compared to 4.34% the day before closing.
In Frankfurt, Adidas took 5.82% and Puma 6.35%. The Canadian sports equipment manufacturer Lulumenon, known for its high-end yoga pants, was off to a sprint after publishing, Thursday after the stock market, results that exceeded expectations and raised its annual forecasts.
Shares of German telecom giant Deutsche Telekom (-9.06%) fell after a Bloomberg dispatch reported that Amazon would like to enter the US mobile network market.
He is said to be negotiating discounted wholesale prices with operators including Deutsche Telekom’s subsidiary, T-Mobile US. “We do not comment on speculation,” a Deutsche Telekom spokesperson responded.
Oil prices continued to rise ahead of a much-anticipated meeting of the alliance of black gold exporters OPEC this weekend, strong US jobs numbers and the debt stalemate overcome.
A barrel of Brent North Sea oil, for August delivery, gained 2.49% to $76.13.
Its US equivalent, a barrel of West Texas Intermediate (WTI) for July delivery, rose 2.33% to $71.74.
The dollar gained 0.51%, helped by the rise in bond rates, to 1.0706 dollars for one euro. It also gained 0.63% against the pound sterling, at 1.2448 dollars for one pound.
Bitcoin was up 1.28% at $27,193.
