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par Ali BEKHTAOUI et Florian SOENEN
France Media Agency
In Europe, all the financial centers have ended up in the green. Frankfurt gained 0.55%, Paris 0.70%, London 0.22% and Milan 0.05%.
Wall Street continued to get carried away as well. The Dow Jones gained 0.63%, the extended S & P500 index 1.34% and the technology index 2.28% around 5:40 pm GMT. The Dow Jones had already crossed a new record Wednesday, despite the violence.
The surge of the American stock markets as well as the soaring prices of his company Tesla allowed Elon Musk to become the richest man in the world, according to the Bloomberg agency.
On the oil market, the price of Brent in London advanced 0.18% to 54.40 dollars, while WTI in New York was posted up 0.30% to 50.78 dollars. Side currencies, the dollar gained 0.45% against the euro, to 1.2271 dollars to the euro.
Investors around the world remained clear on the scope of the scenes observed the day before in Washington and broadcast on most televisions around the world.
Despite the violence of the images, “it is essentially a political skirmish”, analysis with AFP Christopher Dembik, head of economic research at Saxo Bank, to justify the lack of reaction from investors.
The upheaval lasted only one day and “did not prevent the validation of the vote of the great voters, it just delayed it for a few hours”, supports for his part Alexandre Baradez, analyst of IG France.
Bet on recovery
Mr. Biden’s certification of victory was finally officially wrapped up Thursday morning and Donald Trump conceded that there would be an “orderly transition” with his successor.
In this context of weakening American democracy, investors preferred to focus on the victory of the Democrats who secured control of the Senate on Wednesday thanks to two by-elections in Georgia.
The elected president will therefore be able to govern with greater room for maneuver.
Investors were seeing the glass half full for the time being, rejoicing at the prospect of a new, bigger stimulus package than envisioned a few days ago.
Since Wednesday, “10-year sovereign interest rates have been picking up, which is a sign of the anticipation of an accelerated economic recovery, as well as the resumption of inflation,” explains Mr. Baradez.
These forecasts also support indices, especially cyclical stocks, dependent on economic activity.
However, the Democratic advantage in both chambers also makes Mr Biden’s fiscal policy implementation more credible, as well as greater regulation of the tech sector. “These elements could weigh in a second time on the investors”, notes Mr. Baradez.
Cyclical stocks carried the indices. For example, banks have grown again, after their surge on Wednesday: in Paris, BNP Paribas gained 2.25% to 46.31 euros.
The British supermarket chain Sainsbury’s in London and the Saint-Gobain building materials group in France for their part jumped respectively 6.88% to 248.50 pence and 6.20% to 42.48 euros.
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