(New York) The stock markets ended the week in the green on Friday, showing optimism after accommodating statements from an official of the American central bank (Fed) and the decline in bond rates.
European markets ended up, Paris took 0.88%, Frankfurt 1.64%, Milan 1.56%.
London gained 0.04%, slowed by fears of a movement of companies leaving the British place for the United States.
In New York, the Dow Jones gained 1.17%, the NASDAQ index gained 1.97% and the broader S&P 500 index, 1.61%.
Speculation on the evolution of monetary policies and interest rates has been rife since the publication of higher-than-expected inflation figures in the United States and the euro zone.
Despite everything “investors prefer to see the glass half full”, notes Frédéric Ruf, analyst at Milleis, thanks in particular to the speech on Thursday by the President of the Federal Reserve of Alanta Raphaël Bostic, who mentioned a possible pause in increases. rate in the summer.
Bond yields eased slightly on Friday, after rising sharply during the week and returning to levels unseen for more than ten years.
The rate of the 10-year German government bond, which benchmarks in Europe, was worth 2.68%, against 2.5% at the end of last week.
Its American equivalent fell to 3.95%, against 4.05% the day before closing.
After several turbulent weeks, which saw a recalibration of New York market expectations as to the trajectory of the Federal Reserve (Fed), operators believe they have digested this new scenario.
They were reassured by the declarations, Thursday, of the president of the antenna of the Fed in Atlanta, Raphael Bostic, evoking a pause of the monetary tightening this summer.
“The feeling that we are coming (to the peak of the monetary cycle) is gaining ground,” said Jack Ablin of Cresset Capital. “It may not be May, or even June, but within a few months the Fed will wrap up its tightening program. »
Energy and China hoist the metal
The metals industry benefited from lower energy costs, particularly European gas (-3.45% to 45.20 euros per megawatt hour around 11:45 a.m. Eastern time), with industrial metal production being very energy intensive.
The phenomenon was also supported by the rising index of purchasing managers in China, reflecting the reassuring industrial health of the world’s second largest economy and pushing the market to risk.
In Paris, ArcelorMittal advanced 2.77% and in London Anglo American gained 1.79%, Glencore 2.35% and Rio Tinto 2.09%.
Volkswagen tumbles
German auto giant Volkswagen on Friday reported slightly higher net profit in 2022 despite component supply disruptions and rising raw material and energy costs.
The stock rose 10.56% just before the close in Frankfurt. The automotive sector was on the rise, supported by good indices in China.
Faurecia took 6.78% in Paris, Aston Martin 9.84% in London, Volvo 5.80% in Oslo and Tesla rose 3.47% in New York.
Commodities and Currencies
Oil prices ended sharply higher on Friday after the United Arab Emirates denied considering an exit from the Organization of the Petroleum Exporting Countries (OPEC), suggested by an article by the wall street journal.
The price of a barrel of Brent from the North Sea for May delivery rose 1.27%, to close at 85.83 dollars. As for the barrel of American West Texas Intermediate (WTI), with maturity in April, it rose by 1.94%, to 79.68 dollars.
The euro thus progressed by 0.34% against the greenback around 4:55 p.m. (Eastern time), to 1.0634 dollars for one euro.
Bitcoin fell 4.96% to $22,284 after Silvergate Capital, parent company of Silvergate Bank, often called the “crypto bank” for its close ties to the industry, raised a possible cessation of payment.