(Paris) Global stock markets were directionless on Monday, torn between evidence of a still-robust US economy and worse-than-expected economic indicators in China.
Posted at 6:24 a.m.
European markets were balanced, remaining cautious after a rising opening quickly cooled by announcements on the Chinese economy.
Around 8:10 GMT, Paris and London grabbed 0.09% and 0.12% respectively, while Frankfurt lost 0.06%.
In Asia, Shanghai fell 0.02% and Hong Kong fell 0.54% in the latest trade. Both indexes were weighed down by the unexpected slowdown in retail sales and industrial production in July in China, due to a rebound from COVID-19 and a crisis in real estate.
In response to these disappointing indicators, the Chinese central bank lowered several of its key rates to support the economy.
The Tokyo Stock Exchange ended in the green (+1.14%), reaching its highest closing level since January 5, in the wake of New York.
On Wall Street, stock indexes had concluded on Friday, the fourth consecutive time for the NASDAQ, which is dominated by technology. The Dow Jones gained 1.27%, the S&P 500 1.73% and the NASDAQ 2.09%.
“The (investor’s) focus this week is on consumers in China, the US and the UK, and there appears to be little cause for celebration,” said CMC Markets analyst Michael Hewson.
“Poor Chinese data heightens global recession fears,” added Ipek Ozkardeskaya, analyst at SwissQuote.
According to her, while encouraging US indicators last week “have created a hint of hope that things could get better in the second half of the year, members of the Fed (the US central bank) immediately warned that inflation in the United States United remained at a particularly high level, which will require the prolonged intervention “of the institution.
In Europe, the scenario of a slowdown in inflation is even less likely as “gas prices remain high due to concerns about possible future interruptions in deliveries from Russia”, points out Mr. Hewson. . According to him, “the worst may yet come” in terms of inflation.
The Dutch TTF, the benchmark for natural gas in Europe, took 1.52% to 209,255 euros per megawatt hour (MWh) around 8 a.m. GMT. It has jumped nearly 190% since the start of the year, a consequence of the Russian invasion of Ukraine.
Eurofins Scientific grows
The French giant of analysis laboratories has announced the signing of an agreement to become the majority shareholder of the Japanese research and analysis center QSAI, whose activity concerns the detection of pesticides and food tests. The title of the world’s number one food test took 1.30% around 8 a.m. GMT in Paris.
Hellofresh delivers compliant results
German meal delivery company Hellofresh jumped 8.23% at 8 a.m. GMT. The company confirmed its results published in a preliminary report in July, notably reporting a quarterly adjusted Ebitda down 7.5%.
SAS: its SOS received by the markets
Placed since the beginning of July under the bankruptcy regime in the United States, the Scandinavian airline SAS announced on Sunday an agreement guaranteeing it a loan of 700 million dollars. Around 8 a.m. GMT in Stockholm, the stock jumped 9.67%.
On the side of oil and currencies
Oil prices were down on Monday. A barrel of Brent from the North Sea for October delivery dropped 1.76% around 8 a.m. GMT to 96.38 dollars. The barrel of American West Texas Intermediate (WTI) for delivery in September lost 1.85% to 90.39 dollars.
The euro lost 0.24% against the greenback at 1.0234 dollars around 8 a.m. GMT.
Bitcoin fell 1.18% to $24,031.