(New York) US markets rebounded on Thursday after a series of declines, which European markets failed to do as investors avoided risk-taking ahead of central bank meetings next week.
As since the start of the week, the European markets fell back: London fell by 0.23%, Paris by 0.20%, Milan by 0.14% and only the Frankfurt Stock Exchange ended almost stable (+0 .02%).
In the United States, where the indices have lost more ground since Monday, the Dow Jones gained 0.54%, the NASDAQ index rose 1.13% and the broader S&P 500 index, 0, 75%.
The S&P 500 ended a string of five consecutive declines, and eight in nine trading days.
“It seems this streak came to a halt not because of positive catalysts, but because of exhaustion,” commented Edward Moya of Oanda in a note.
Since last week, investors have tensed at the idea of a too heavy-handed American central bank (Fed) and an American economy programmed for a recession.
“I don’t think today’s session is a sign that this apprehension has subsided,” said Keith Buchanan of Globalt Investments. “She remains ubiquitous. »
Investors await the meeting of the American Central Bank on Tuesday and Wednesday, then that of the European Central Bank on Thursday. They are again expecting a rise in key rates, but to a lesser extent than at previous meetings.
As an appetizer, they will have the publication of two inflation indicators, Friday (producer prices in November) and Tuesday (consumer prices).
“Central banks are not going to relax the pressure while waiting to be sure of the trajectory of inflation,” said Patrice Gautry, chief economist at Union Bancaire Privée, for whom “it is easier to go from 10% to 5% inflation than to go from 5% to 2%”.
On the bond market, the interest rates of the States rose a little: the rate of the 10-year American loan rose to 3.46% around 11:50 am (Eastern time).
ExxonMobil increases share buybacks
The American oil giant ExxonMobil announced Thursday its intention to increase its share buyback program from 30 to 50 billion dollars by 2024, a way to reward its shareholders even more despite criticism from the American administration. The stock gained 0.74%, dragging Chevron (+0.68%) in its wake.
Stock market operators not at the party
London stock exchange operator LSE fell 6.44% after being downgraded by UBS bank which doubts the possibility that two of the main shareholders, Blackstone and Thomsom Reuters, will want to continue to hold shares in the next few years . The other European operators were also poorly oriented, such as Euronext (-2.51%) and Deutsche Börse (-0.55%).
Oil still depressed, dollar down
Oil prices suffered their fifth consecutive session of declines on Thursday, remaining indifferent to the easing of restrictions in China, the blocking of tankers in the Black Sea and the shutdown of a US pipeline.
A barrel of Brent North Sea oil for February delivery fell 1.32% to close at $76.15.
As for the barrel of American West Texas Intermediate (WTI), with maturity in January, it fell by 0.76%, to 71.46 dollars.
The dollar was still struggling. The euro took 0.47% to 1.0556 dollars around 4:50 p.m. (Eastern time).