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OF Morning Report

13/05/2024
Source : ORISHAS-FINANCE
Categories: General Information

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Les Bourses européennes devraient ouvrir en ordre scattered, the Choose France summit is attracting attention. The Eurostoxx 50 opens at 5,085.08 points (+0.61%), the CAC 40 at 8,219.14 points (+0.38%), the DAX 40 at 18,772.85 points (+0.38%), the DAX 40 at 18,772.85 points (+0.46%), the FTSE 100 at 8,433.76 points (+0.63%), the SMI at 11,753.70 points (+1.31%), the AEX at 910.59 points (+0.71%), the BEL 20 at 4,013.33 points (+0.70%), the IBEX 35 at 11,105.50 points (+0.50%), the DJIA at 39,512 .84 points (+0.32%), the Nasdaq at 16,340.87 points (-0.03%), the S&P 500 at 5,222.68 points (+0.16%), and the Nikkei 225 at 38,116.38 points (

-0.29%).

As for exchange rates, the change from the close indicates that in New York, the EUR/USD is at 1.0772 (-0.01%), the EUR/JPY at 167.80 (+0.01%), and the USD/JPY at 155.81 (+0.04%), the EUR/JPY is at 167.80 (+0.01%), and the USD/JPY at 155.81 (+0.04%).

Investors will be watching for announcements from the Choose France Summit on Monday. More than 15 billion euros in investments in France have already been announced, including an investment of 4 billion euros by the American technology giant Microsoft in artificial intelligence (AI) and dematerialized computing (cloud). For its part, its competitor Amazon will invest 1.2 billion euros in the cloud and in its logistics infrastructures.

The pharmaceutical laboratory Sanofi has announced that it will invest more than 1.1 billion euros in the production of drugs in France. This amount includes the construction of a new factory in Vitry-sur-Seine, in Val de Marne, to double the production capacity of monoclonal antibodies

on the site.

Due to continuing uncertainty about a US Federal Reserve (Fed) rate cut this year, European equity markets are expected to present a mixed picture on Monday at ; opening. At 7:35am, the futures contract on the CAC 40 gained 17 points, or 0.2%, according to data from the broker IG, and the one on the DAX 40 gained 26 points, or 0.1%. On the other hand, the FTSE 100 contract lost 14 points, or

0.2%.

Fed Governor Michelle Bowman said in an interview with Bloomberg that she did not expect any rate cuts this year. Minneapolis Fed President Neel Kashkari expressed doubts on Friday that interest rates were high enough to allow inflation to return to the Fed's 2% target

.

Global inflation in the United States is expected to rise to 0.4% over one month and 3.4% over one year in April, compared to 0.4% and 3.5% respectively in March. Core inflation, excluding food and energy, is expected at 0.3% over one month and 3.6% over one year, after 0.4% and 3.8%

in March.

Asian equity markets are trading in scattered order on Monday. The Nikkei index on the Tokyo Stock Exchange lost 0.3% at the end of the session, while the Hang Seng rose 0.5% in Hong Kong. The Shanghai Composite lost 0.1%. The consumer price index in China rose for the third consecutive month in April, at a rate of 0.3% over one year, according to official data published on Saturday, compared to a rise of 0.1% in March and a rise of 0.2% expected by economists. The producer price index fell by 2.5% year on year in April

.

After the latest comments by Fed officials on the level of interest rates, US Treasury bond yields are not changing much this morning. Yields have declined since Fed Chair Jerome Powell all but ruled out another rate hike last week, while Neel Kashkari and Michelle

Bowman were more restrictive.

Due to concerns about demand, prompted by economic data released on Friday in the United States, oil prices fell on Monday morning. Westpac indicated a sharp decline in American household confidence reinforced signs that the economy was losing momentum. For Westpac, the rise in inflation forecasts is complicating the situation, suggesting a risk of stagflation. At 7:25am, the July contract for North Sea Brent lost 33 cents to 82.46 dollars per barrel, while the June contract for light sweet crude quoted on Nymex (WTI) fell by 28 cents to 77.98 dollars per

barrel.
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