(Paris) Global stock markets were generally higher on Thursday, as European indices generally held or exceeded their recent highs at the end of the session, but hesitated due to a lack of major news.
Accordingly, the Paris Stock Exchange rose by 0.57% after reaching a level not seen since November 28, 2000 (6,171.45 points). For its part, London ended the highest level since the end of February 2020 (+ 0.83%), while Frankfurt snatched 0.17%. The Milan Stock Exchange only fell 0.66%.
Across the Atlantic, the picture remained contrasting with the Dow Jones (-0.09%) lower compared to the S&P 500 (+ 0.29%) and especially the Nasdaq, which started again (+ 0.89%).
The market is “in a reversal phase” and “breathing” after I have already incorporated a lot of good news, noted to France Presse Alexander Paradis, an analyst at IG France, referring to signs of the economic recovery and positive indicators published in recent days in the US and Europe.
After the recent summits we have reached on both sides of the Atlantic, we are “in an atmosphere of strengthening,” he adds.
Most of the European markets, buoyed by expectations of an economic recovery, have developed in recent weeks to multi-year highs or months, or even set a series of historic records for the Dax, Dow Jones and S&P 500 indexes.
“The acceleration of growth projected in the coming quarters in developed countries should be driven by the strength of the recovery in the US economy,” said Sebastian Paris Horvitz, LBPAM strategist. “Markets are playing this upcoming recovery […]Especially with the stock markets that have returned to or exceeded their historic highs. ”
In a statement from the International Monetary Fund’s Steering Committee, US Treasury Secretary Janet Yellen on Thursday urged the world’s major economies not to dilute financial efforts to support the global economy.
However, jobless claims in the US surprised forecasters once again, reporting another increase last week. This contrasts with the economic boom that is starting to take shape in the country, where vaccines are advancing rapidly.
Alstom in fig
In Paris, Alstom rose 0.96% to € 44.20. SNCF placed an order with the railway manufacturer for the first 12 French hydrogen trains. The first tests were announced at the end of 2023.
London tour operators punished
The Cruise line Carnival lost 4.42% to 1,719.00 pence. The group announced a multi-billion dollar loss in the first quarter and extremely high debt due to COVID-19, even if it began to expect business to resume.
EasyJet fell 2.79 percent to 992.00 pence.
For Michael Hewson, chief analyst at CMC Markets UK, one of the reasons for this weakness in the travel sector could be concerns about the UK’s delay in its vaccination program as it decided to keep AstraZeneca’s COVID-19 vaccine for people over the age of 30. As a precaution.
The British lab rose 2.03% to 7,243.00 pence, after the British government tried Thursday to reassure residents about the safety of vaccines, the day after it announced its 30-year-old threshold.
At around 12:25 PM, the price for a barrel of Brent North Sea crude for delivery in June was $ 63.37 in London, up 0.33% from the previous day’s close.
In New York, the price of WTI crude for May fell 0.03% to $ 59.75.
Meanwhile, the euro rose against the dollar (+ 0.41% to $ 1.1916), while the British pound steadied against the dollar (+ 0.09% to $ 1.3747).
Bitcoin rose 2.6% to $ 57,695.