(New York) Global markets were cautious on Thursday amid uncertainty surrounding the US Federal Reserve’s (Fed) health and monetary policy developments, with Wall Street taking a break after three sessions in the green .
In Europe, Paris (-0.09%), London (-0.22%) and Frankfurt (-0.30%) finished slightly down.
For its part, Wall Street was catching its breath. The Dow Jones ended in equilibrium, while the NASDAQ index, with a strong technological flavor, dropped 1.71%, and the broader S&P 500 index, 0.72%.
“Investors are in a cautious mood again, after a strong rebound in equity markets earlier this week following reports that Omicron variant symptoms are less severe than feared,” observes Craig Erlam, Oanda analyst .
But “what we are seeing from the variant is already enough for governments to impose further restrictions,” which “does not bode well for the economy” and “raises many questions about what the coming months have in store for us. », Underlines the expert.
Besides the spread of Omicron, investors remain very concerned about inflation, which is back in force in many countries.
They wonder in particular about the situation in the United States and worry about a possible acceleration of monetary tightening of the American Central Bank (Fed), which seems to not take into account for the moment, a possible Omicron effect. .
The market will scrutinize Friday the CPO consumer price index for November, expected at its highest in almost 40 years, looking for clues on the future of the Fed’s monetary policy, pending its next one. meeting, scheduled for December 14 and 15.
“Friday’s statistics are important, but it is above all the decision of the Fed that will make it possible to see more clearly” on the trend that the markets will adopt, commented to AFP Guillaume Garabedian, responsible for advisory management at Meeschaert Gestion Privée.
“In China, the inflationary threat remains growing”, also believes Thierry Claudé, portfolio manager at Kiplink Finance.
Another subject of uncertainty in Asia: two Chinese promoters, including the giant Evergrande, defaulted on loans totaling 1.6 billion dollars, according to the rating agency Fitch.
Investors are waiting to see how China handles the situation, given that real estate and construction account for more than a quarter of its Gross Domestic Product.
Unicredit’s new acclaimed roadmap
The second Italian bank (+ 10.82% to 12.80 euros in Milan) aims to increase its net profit by 10% per year to reach more than 4.5 billion euros in 2024 as part of its new plan strategic.
Restructuring is progressing at Rolls-Royce
The restructuring of the British engine maker is progressing “faster than expected”, but the uneven recovery of civil aviation and new restrictions linked to Omicron have caused the stock to fall (-3.37% to 124 pence) in London.
The aerial lagging behind
American Airlines fell 0.49% to $ 18.14, after announcing it would cut the number of its international trips in the summer of 2022 due to delays in deliveries of Boeing’s long-haul (-1, 64% to 207.56 dollars).
In Europe, Air France-KLM (-2.14% to 3.93 euros), Lufthansa (-1.95% to 6.08 euros) and IAG (-3.32% to 138 pence) all finished in the Red.
On the oil, euro and bitcoin side
Oil prices slipped back from their two-week high on Thursday, depressed by new health measures taken across the world against COVID-19, which raise fears for demand for black gold.
The price of a barrel of North Sea Brent for February delivery fell 1.84% to $ 74.42.
In New York, a barrel of West Texas Intermediate (WTI) for the month of January fell 1.96% to $ 70.94.
The euro lost 0.44% against the greenback at 1.1292 dollars.
Bitcoin fell back below $ 50,000, losing 4.84% to $ 48,138.