A session without much change is looming in Europe – Boursorama

by Laetitia Volga

PARIS (Reuters) – The main European stock markets are expected without much change on Monday at the opening, while today’s session promises to be fairly calm.

According to the futures contracts, the Parisian CAC 40 could lose 0.05% at the opening, the Dax in Frankfurt would fall by 0.06%, for the FTSE in London by 0.16% and the EuroStoxx 50 by 0.09%.

European equities posted their sixth consecutive positive weekly performance last week, advancing 0.69% for the Stoxx 600 and 0.72% for the CAC 40.

In today’s lightened agenda, investors will follow at 10:00 GMT the hearing of the President of the European Central Bank, Christine Lagarde, by the Committee on Economic and Monetary Affairs of the European Parliament.

Another event of the week, retail sales in the United States will be published on Tuesday for the month of October and could help assess the possible impact of the drop in consumer sentiment, which has fallen to the lowest in ten years, while the rise in prices worries.

Investors will also be attentive to the virtual summit, scheduled for Tuesday morning Beijing time, between the American and Chinese presidents, which could in particular focus on the sensitive issue of Taiwan.

A WALL STREET

The New York Stock Exchange, supported by growth stocks foremost among which the digital giants, ended up on Friday.

The Dow Jones index gained 0.5% to 36,100.31 points, the S & P-500 gained 0.72% to 4,682.85 points and the Nasdaq Composite advanced 1% to 15,860.96 points.

Over the whole of last week, marked by a revival of inflationary fears after the announcement of a rise above expectations in consumer prices in the United States in October, the Dow lost 0.63%, the S&P -500 0.31% and the Nasdaq 0.69%.

IN ASIA

On the Tokyo Stock Exchange, the Nikkei ended up 0.56%, the advance of technology stocks in the wake of Wall Street having taken precedence over the sharper than expected contraction of the Japanese economy in the third quarter.

Heavyweight, semiconductor equipment maker Tokyo Electron (+ 0.97%) supported the trend after raising its annual earnings and dividend outlook.

In China, the CSI 300 index lost 0.12% as the slowdown in real estate investment and sales between January and October compared to the previous year offset the rise in industrial production and retail sales in October.

The shares of coal producers ended down (-1.02%) after the final agreement of the COP26 which is the first to call for a reduction (“phase down”) of the use of fossil fuels (oil, coal and gas). ), the main cause of man-made global warming.

CHANGES / RATES

The dollar gives up 0.12% against a basket of benchmark currencies after having climbed during the previous session to the highest since July 2020 thanks to the revision of rate expectations.

The euro is stable at 1.1455 dollars.

The 10-year Treasuries yield lost three basis points, to 1.5562%, and its German equivalent dropped nearly two points, around -0.275%.

OIL

The oil market is pulling back on fears of an increase in supply and weakening demand.

“There has been debate in the White House on how to fight rising inflation, with some officials calling for drawing on strategic reserves or stopping US exports,” ANZ analysts said.

A barrel of Brent yields 0.73% to 81.57 dollars and US light crude 0.64% to 80.27 dollars.

(Laetitia Volga, edited by Blandine Hénault)