DJ MORNING NEWSLETTER: June 27, 2023

European equity markets expected to rise slightly at the opening. The Eurostoxx 50 opens at 4,280.57 points (+0.21%), the CAC 40 at 7,184.35 points (+0.29%), the DAX 40 at 15,813.06 points (-0.11%), the FTSE 100 at 7,453.58 points (-0.11%), the SMI at 11,141.90 points (-0.71%), the AEX at 757.50 points (+0.12%), the SMI at 11,141.90 points (-0.71%), the AEX at 757.50 points (+0.12%)), the BEL 20 at 3,506.29 points (-0.48%), the IBEX 35 at 9,274.00 points (+0.09%), the DJIA at 33,714.71 points (-0.04%), the Nasdaq at 13,335.78 points (-1.16%), the S&P 500 at 4,328.82 points (-0.45%), and the Nikkei 225 at 32.528.45 points (-0.53%

On the exchange rate side, the change compared to the close in New York indicates that EUR/USD at 1.0928 (+0.17%), EUR/JPY at 156.78 (+0.16%), and USD/JPY at 143.47 (-0.03%).

The luxury group Kering announced on Monday evening the acquisition of perfumer Creed from the BlackRock fund and Spanish businessman Javier Ferran, current president of the company. The amount of the operation is not made public but it is “commensurate with the quality of the asset”, specified the group's financial director, Jean-Marc Duplaix, during a conference call

TotalEnergies and Gentari Renewables, a subsidiary of the Petronas oil group, on Monday announced a partnership agreement to accelerate the development of renewable energies in the Asia-Pacific region. The Accor hotel group, which is holding an investor day on Tuesday, announced on Monday the sale of its 33% stake in the Moroccan Risma, which will however continue to operate Ibis, Sofitel and Novotel establishments

European equity markets are expected to gain some ground early Tuesday, as investors move on from last weekend's short-lived rebellion in Russia. Around 7:40 a.m., the CAC 40 futures contract rose 23.4 points, or 0.3%, according to data from the broker IG. The contract on the DAX 40 rose by 46.5 points, or 0.3%, and the one on the FTSE 100 gained

Even though financial markets reacted relatively little to last weekend's events in Russia, some analysts believe that the prospect of new domestic conflicts after this incident could revive volatility. The New York Stock Exchange continued to fall on Monday, hampered by a decline in technology stocks as investors continue to assess the risks of recession and rate hikes. Investors reacted little to the situation in Russia after the failed attempt at rebellion by the Wagner militia over the

Markets expect, among other things, the PCE index, the Fed's preferred inflation indicator, on Friday, and the June employment report next week, E-Trade added. In Asia, equity markets presented a mixed picture on Tuesday. The Nikkei index on the Tokyo Stock Exchange lost 0.5% at the end of the session, but the Hang Seng gained 1.6% in Hong Kong and the Shanghai Composite gained

US Treasuries are little changed on Tuesday, as investors await the release of economic statistics that could provide new insights into the trajectory of Federal Reserve (Fed) interest rates.

Investors will hear from Fed Chairman Jerome Powell again on Wednesday during the European Central Bank Forum in Sintra. Around 7:20 a.m., the 10-year U.S. Treasury bond rate rose 1 basis point, to 3.735%. That of the 2-year stock rose by 2 basis points, to 4.691%

The euro appreciated against the dollar and the yen on Tuesday morning, while the greenback was stable against the Japanese currency. While a geopolitical crisis has been defused, the risks have not been eliminated, which should work in favor of the dollar, according to the bank

Oil futures rose Tuesday morning, as the brief mutiny by the Russian paramilitary group Wagner raised questions about President Vladimir Putin's control of power and the risks surrounding one of the world's major oil-producing countries. Galaxy Futures analysts point out that while geopolitical uncertainties in Russia may raise concerns about supply in the short term, demand forecasts are likely to remain pessimistic over the long term, putting pressure on crude oil prices

Around 7:20 a.m., the August North Sea Brent contract won 42 cents, at $74.60 a barrel, and the contract of the same maturity on Nymex-traded soft light crude (WTI) took 46 cents, at $69.83 a barrel.