European stocks set to rise again at open

EUROPEAN SHARES ARE EXPECTED TO RISE AGAIN AT THE OPENING by Laetitia Volga PARIS (Reuters) – Major European stock markets are expected to rise slightly at the open on Wednesday on the back of strong results from U.S. companies and the prospect of a resumption of shipments of Russian gas to Europe. The first indications available indicate an increase of 0.3% for the Parisian CAC 40, 0.47% for the Dax in Frankfurt, 0.43% for the FTSE in London and 0.14% for the EuroStoxx 50 Reports from Reuters that the Nord Stream 1 gas pipeline is expected to resume service on Thursday as planned eased gas supply concerns in Europe and should again help equity markets rise. “The latest news that Russian gas will be flowing again gave European indices a welcome boost on Tuesday despite uncertainty over the amount of flow,” said IG analyst Joshua Mahony. Fear of a global recession is not completely dismissed, however, and the rebound in equities over the past week could just as well reflect a simple rebound from “extreme levels of pessimism”, according to Rodrigo Catril at NAB. On Wall Street, which ended sharply higher on Tuesday, Netflix shares gained around 13.9% in out-of-hours trading after the announcement of a lower-than-expected loss of subscribers in the second quarter and forecasts. optimistic for the current quarter. Futures contracts on the main American indices suggest for the moment a continuation of the rise, of the order of 0.4%. A WALL STREET The New York Stock Exchange ended in green on Tuesday as additional companies released better-than-expected results, providing a breath of fresh air to investors worried that soaring inflation will weigh on profits. private sector. The Dow Jones index gained 2.43% to 31,827.05 points, the S&P-500 gained 2.76% to 3,936.69 points and the Nasdaq Composite .IXIC advanced 3.11% to 11,713.15 points. . The S&P-500 has been at a high since June 6, while the Nasdaq recorded its strongest daily percentage rise since June 24. Halliburton (+2.11%) posted a 41% rise in adjusted quarterly profit, toymaker Hasbro gained 0.7% and Truist Financial 2.6% after posting quarterly profit that beat expectations. Johnson & Johnson and IBM, which both warned of the impact of the strong dollar, lost 1.46% and 5.24% respectively. IN ASIA The Nikkei on the Tokyo Stock Exchange, up for the fifth consecutive session, took 2.55%, led by the rise in technology stocks in the wake of Wall Street. Tech heavyweights like Tokyo Electron gain 4.84% and Advantest 4.85%. Gained by the progress of the world markets and by the promise of Beijing to support the economy, the Chinese actions evolve/move in the green. The Shanghai composite index advanced by 0.56%, the CSI 300 of mainland China by 0.21% and the Hang Seng in Hong Kong by 1.29%. FOREIGN EXCHANGES The US dollar fell slightly against a basket of international currencies (-0.12%) while the euro increased its gains from the previous day on hopes that Europe could avoid a major gas shortage and the possibility that the ECB will carry out a larger than expected rate hike on Thursday. The single currency took 0.19% to 1.0243 dollars. RATES On the bond market, the yield on ten-year Treasuries was stable at 3.0265%. OIL Oil prices fell slightly, under pressure from the efforts of global central banks to curb inflation and before the anticipated announcement of an increase in crude inventories in the United States as demand weakens. Brent lost -0.87% to 106.42 dollars a barrel and US light crude (West Texas Intermediate, WTI) dropped -0.33% to 103.88 dollars. (Written by Laetitia Volga, edited by Myriam Rivet)