Stock markets: Europe rises in the absence of American markets

Stock markets: Europe rises in the absence of American markets
Stock markets: Europe rises in the absence of American markets

Paris (awp / afp) – European stock markets were moving in the green Thursday in the absence of US markets, closed to celebrate Thanksgiving, and despite a slight downward revision in German growth in the third quarter.

On the Old Continent, the places of Paris (+ 0.30%) Frankfurt (+ 0.37%) London (+ 0.13%) and Milan (+ 0.35%) advanced moderately at 09:30 GMT. They had finished in dispersed order the day before. The Swiss Stock Exchange saw its flagship SMI index increase by 0.18% around 11:30 am.

Earlier in Asia, the Tokyo Stock Exchange ended up 0.67%, that of Hong Kong rose 0.2% but that of Shanghai fell 0.2%.

“It will be interesting to see how the European markets evolve without their American spiritual guide,” writes Tangi Le Liboux, analyst at brokerage Aurel BGC. Failing to look across the Atlantic, investors focused on Germany.

Almost two months after the legislative elections, the Social Democrats (SPD), the Greens and the Liberals (FDP) agreed on a coalition contract at the time of a new, particularly violent wave of the pandemic of Covid-19. “The new coalition is blowing a fresh wind on German politics, even if it begins its mandate with a health crisis which will still paralyze the country for a few weeks,” said Jochen Stanzl, for CMC Market.

The growth of gross domestic product in the third quarter in the largest European economy was revised down to 1.7%, against 1.8% in a first estimate published at the end of October. In addition, German consumer sentiment is expected to fall in December, according to the GFK barometer.

Experts worry about stagnant growth in the fourth quarter due to shortages of raw materials and electronic components, but also of Covid-19. “The outlook for growth is probably in favor of moderation in advanced economies, as the rush for fiscal and monetary initiatives abates,” said Nordea Asset Management in its macroeconomic outlook for 2022.

Market traders will also follow the minutes of the latest European Central Bank (ECB) monetary policy meeting at midday. The day before, the publication of the minutes of the last meeting of the monetary policy committee of the US central bank on November 2-3, had indicated that several Fed officials were ready to hike interest rates earlier than expected if inflation remained high.

The generalized surge in inflation has already led several central banks to tighten their monetary policy.

Rémy Cointreau raises its annual objectives

In Paris around 09:20 GMT, the title soared 10.11% to 205.80 euros, a historically high level, after the group raised its annual forecasts in the wake of a doubling of its half-yearly net profit.

In its wake, Pernod Ricard advanced 1.97% to 212 euros, leading the CAC 40.

Swiss Life unveils its new roadmap

The share of the insurer Swiss Life gained 3.71% to 531.60 Swiss francs, at the top of the Zurich Stock Exchange, driven by its new financial objectives for the next three years and by a buyback program. ‘actions.

The German pharmacy at the top of the bill

In Frankfurt, Sartorius shares rose 2.42% to 559.20 euros, like Siemens Healthineers (+ 1.61% to 64.48 euros) and Merck (+ 1.72% to 219.40 euros).

On the oil, euro and bitcoin side

Oil prices retreated slightly on Thursday.

Around 11:15 am, the price of a barrel of Brent from the North Sea for delivery in January loosened 0.21% to 80.87 dollars against 82.25 dollars at the close of the day before. In New York, a barrel of West Texas Intermediate (WTI) for the same month yielded 0.33% to 78.13 dollars against 78.39 dollars at the close of the day before.

The euro rose 0.13% against the greenback at 1.1219 dollars.

Bitcoin was almost stable (+ 0.13%) at $ 57,404.

afp / vj

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