(CercleFinance.com) – European stock markets are recovering this Friday (+2.1% in London, +1.2% in Frankfurt, +1.4% in Paris) in the wake of Wall Street the day before (+1, 5% on the S&P500) where traders pinned their hopes on a change in the Fed’s stance.
The prospect of a possible intervention by the Federal Reserve to mitigate the consequences of the war in Ukraine on the markets has enabled investors to regain some confidence in the New York Stock Exchange.
‘During Jerome Powell’s first term as Fed Chairman from 2018, the stock market suffered two corrections and the Fed changed its plans each time by reversing its plans for rate hikes. on at Capital Economics.
Furthermore, according to the European Commission, the economic sentiment indicator (ESI) picked up in February in the euro zone (+1.3 points to 114) and the employment outlook indicator (IEE) reached its highest level since May 2000 (+2.6 points to 116.2).
Still on the macroeconomic data front, Destatis raised its estimate of German GDP, which only contracted by 0.3% in the fourth quarter of 2021 (compared to -0.7% in the first estimate), while INSEE confirmed French growth at +0.7%.
Among the results of the day, investors welcome those of the chemical company BASF (+6% in Frankfurt) and to a lesser extent the cement manufacturer Holcim (+1% in Zurich), but neglect those of the air carrier IAG (-1% in London) and especially the equipment manufacturer Valeo (-10% in Paris).
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