MARKET POINT-A new cautious session is looming in Europe (updated)

(Updated with futures, Saxo Bank commentary, China markets close, Europe bond market open) * No clear trend in sight for major European indices * Wall Street gained between 1% and 1.9% on Thursday * The yield of the 10-year US remains on the rise by Laetitia Volga PARIS, March 25 (Reuters) – The main European stock markets are expected without much change on Friday at the opening, the caution remaining in order on the situation in Ukraine at the edge of the weekend. Futures contracts indicate an increase of 0.11% for the Parisian CAC 40 .FCHI in the first exchanges, -0.04% for the Dax in Frankfurt .GDAXI and down -0.2% for the FTSE at London .FTSE . European equities ended loosely but with narrow spreads on Thursday as the war in Ukraine entered its second month and Western countries pledged in Brussels to step up aid to Ukraine while imposing new sanctions against Russia. nL5N2VR1RS “The market is undecided and this will continue. The market lacks an upward catalyst (…) The latest economic indicators (in particular the business climate published by INSEE) confirm that growth in Europe is slowing down. The United States is not spared. The slowdown at work is not yet fully priced in. Therefore, one should be very careful in the short term and opt for stocks that can withstand downturns,” Saxo Bank wrote in a note. STOCKS TO WATCH: nL5N2VR5J7 ON WALL STREET The New York Stock Exchange ended higher on Thursday, taking advantage of the gains of chipmakers and high-growth stocks to rebound again, on the sidelines of the decline in oil prices. The Dow Jones Index .DJI gained 1.02% to 34,707.94 points, the S&P-500 .SPX gained 1.43% to 4,520.16 points and the Nasdaq Composite .IXIC advanced 1.93% at 14,191.84 points. Futures are pointing to a flat session to end the week. IN ASIA On the Tokyo Stock Exchange, the Nikkei .N225 gained 0.14%, followed its ninth consecutive session in the green, its longest series of gains since September 2019. Over the week, the index took 4.9 %. Chinese stock markets were weighed down by concerns over the listing of Chinese companies on Wall Street. The US authority responsible for supervising the accounting of listed companies said on Thursday that it was not certain to obtain from Beijing the audit documents required by a new US law on foreign companies. The CSI 300 index .CSI300 of large caps in China fell -1.8% and the Hang Seng .HSI in Hong Kong fell -2.53%. RATES On the bond market, the yield on ten-year US Treasury bonds US10YT=RR rose 2.5 basis points to 2.3648%. In early trade, the ten-year German Bund yield DE10YT=RR is stable at 0.527% after a more than three-year high on Thursday at 0.555%. EXCHANGES The dollar lost -0.22% against a basket of international currencies .DXY and the euro rose to 1.1026 dollars EUR= . The yen rallied -0.49% against the dollar after hitting a low since December 2015 in early trading. JPY= Despite the day’s rebound, the Japanese currency is currently losing more than 2% for the week as a whole, penalized by the surge in energy prices, which is driving up import costs, and by the growing divergence between the monetary policy of Japan and that of the United States where the Federal Reserve seems to be moving towards an increasingly restrictive trend. Bank of Japan Governor Haruhiko Kuroda reiterated on Friday that a weak yen is good for the economy, brushing aside fears that the currency’s depreciation will do more harm than good. to this resource-poor and import-dependent country. OIL Variations are limited on the oil market after the absence of any European announcement on an embargo on Russian hydrocarbons due to the dependence of certain countries on fossil fuels from Russia. Brent LCOc1 fell -0.3% to $118.67 a barrel and US light crude (West Texas Intermediate, WTI) CLc1 -0.36% to $111.93. MAIN ECONOMIC INDICATORS ON THE AGENDA FOR MARCH 25 COUNTRY GMT PREVIOUS CONSENSUS PERIOD INDICATOR OF 09:00 Ifo climate index for March 94.2 98.9 business EZ 09:00 Money supply M3 February +6.3% +6.4% – credit to businesses +4.6% +4.4% – household credit na +4.3% US 2:00 p.m. 1 49 49 50 00;)) ((Values ​​to follow on the Paris Stock Exchange and in Europe WATCH/LFR))