European markets rebound | Allnews

European markets rebound | Allnews
European markets rebound | Allnews

Paris ends up 0.59%, London 0.16%, Frankfurt 0.23% and Milan 0.78%. In Zurich, the SMI rose 0.36%.

European markets rebounded Thursday from their losses the day before, as Wall Street took the opposite path, investors remaining cautious about the global economic situation and central bank policy.

After closing higher on Wednesday, the main indices of the New York Stock Exchange were moving down: the Dow Jones lost 0.35%, the S&P 500 0.44% and the Nasdaq 0.37%, around 4:40 pm GMT.

In Europe, Paris gained 0.59%, London 0.16%, Frankfurt 0.23% and Milan 0.78%. In Zurich, the SMI took 0.36%.

The main statistic of the day, retail sales, which paint a picture of consumption, rebounded unexpectedly in August in the United States, gaining 0.7% when the consensus expected a decline of this magnitude. However, the data for July have been revised downwards.

The global market environment remains “a little gloomy”, notes Craig Erlam, analyst for Oanda. Since the beginning of the month, the main European and American indices have posted declines of around 1%.

“Countries must cope with, among other things, outbreaks of Covid in winter, rising energy prices and increased inflation,” he lists.

In this more troubled environment, investors are not encouraged to take risks, let alone a week away from the meeting of the US Federal Reserve’s monetary committee.

This must announce the beginning and the extent of its policy of reducing asset buybacks, which has contributed to the market rebound for a year and a half.

Continental divided

In Frankfurt, the Dax counted 31 titles for one day due to the “spin-off” – the IPO – of Vitesco, the gears division of the Continental automotive supplier. The new title of Vitesco, which left the Dax at the end of the session, closed at 58.70 euros, down 1.84% compared to the first price, set at 59.80 euros. Continental fell 6.16% to 94.89 euros, as a result of a technical adjustment.

Thales not worried

Thales (-0.37% to 81.58 euros) has confirmed its financial objectives despite the breach by Australia of the contract of 31 billion euros for the supply by France of 12 submarines in which the Defense electronics technician was involved.

The American Lockheed Martin, which participated in the contract to provide the combat system for future buildings, was down 0.87% to 342.05 dollars.

Marks & Spencer ferme boutique

British chain of stores Marks and Spencer lost 2.12% to 182.20 pence after announcing Thursday the closure of 11 stores in France “in the coming months”, more than half of its 20 sites in the country , due to supply issues related to Brexit.

Ryanair aims high

The Irish low-cost company Ryanair announced Thursday its intention to accelerate its post-Covid recovery and notably plans to create 5,000 jobs and reach 225 million passengers over five years. His title soared 8.27% to 16.63 euros in Dublin.

In London, Easyjet rose 7.17% to 606.60 pence while IAG, parent company of British Airways and Iberia, gained 3.89% to 142.46 pence. On the CAC 40, Safran rose 2.21% to 104.62 euros, Airbus by 2.24% to 114.88 euros.

On the oil, euro and bitcoin side

A barrel of Brent from the North Sea for November delivery returned close to equilibrium and lost only 0.13% to 75.36 dollars in London around 4.30 p.m. GMT.

In New York, the US barrel of WTI for October was also down 0.23% to 72.46 dollars.

The euro lost 0.47% against the greenback at 1.1761 dollars.

Bitcoin gained 0.21% to $ 48,040.

 
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