(New York) Stock markets headed higher on Wednesday after several sessions of decline, although the trend was weak on the eve of a meeting of central bankers in Jackson Hole (United States).
Updated yesterday at 5:20 p.m.
In the red during the morning, the European markets finally experienced a positive session. Paris finished in the green (+0.39%) as did Frankfurt (+0.20%) and Milan (+0.23%). London remained behind (-0.22%).
For several sessions, investors have been tense, the return of central bankers approaching. This change in mindset had consequences on equities, but also on government interest rates, which climbed, and even the dollar, which strengthened.
“Interestingly, fear of what might be said seems to have a much greater impact than what has been communicated over the past few weeks,” said Oanda analyst Craig Erlam.
“Investors have repeatedly turned a blind eye to comments from the US central bank since the last meeting, which has helped equity markets recover a lot of lost ground,” he said. »
Still heckled in Wednesday’s session, the single European currency returned to equilibrium against the dollar compared to the previous day’s close, but still below parity, at 0.9967 dollars for one euro around 7:15 p.m. GMT.
Eurozone economies are under even more pressure, with rising gas prices. The Dutch TTF, the benchmark for the European natural gas market, jumped again, rising above 300 euros per megawatt hour (MWh) in session before closing at 288 euros.
State interest rates tightened further, in the United States – where the yield on the 10-year loan exceeded 3.1% – as in Europe, where the German rate at the same maturity was at 1.36% , at its highest for almost two months.
Schneider electrifies Aveva
The French giant of electrical equipment and industrial automation Schneider Electric (+ 1.06%) confirmed in a press release “considering an offer”, to fully buy the English software group Aveva, of which it already owns 60%. Although no formal offer has yet been filed, Aveva soared more than 25% on the London Stock Exchange.
Peloton takes the wheel from Amazon
Peloton, in freefall since November as the COVID-19 pandemic and lockdowns waned, jumped 20.36% to $13.48. Investors have enthusiastically welcomed the initiative of the manufacturer of connected exercise bikes to now sell its devices on Amazon, abandoning its exclusive distributor policy. Since 1er January, the stock is still down 63%.
Richemont first in luxury in Europe
The stock of Swiss luxury giant Richemont rose 3.55% after the group announced the sale of almost half of the shares of YOOX Net-a-porter, an Italian fashion company, to the American Farfetch (up 25% in New York). The Swiss Swatch also took 2.36% while the values of the sector also supported the Paris Stock Exchange, with in particular Hermès at +2.24% and LVMH +1.03%.
On the side of the barrel
Oil prices were easing after the release showed that commercial crude oil reserves fell more than expected in the United States.
The price of a barrel of Brent North Sea oil for October delivery advanced 0.99%, to end at $101.22, a busier high at the close since July 29.
As for the barrel of American West Texas Intermediate (WTI), also for delivery in October, it gained 1.22%, to 94.89 dollars.