European stock markets are off to a weak start due to the decline on Wall Street the previous day and weakness in Asian stock markets. Futures on the Euro Stoxx are down 0.4% as are those on the Paris Cac while contracts on the Ftse Mib are trading around parity. Amsterdam seems ready to recover with equal futures, after yesterday’s sharp fall (-2.5%) conditioned by the fall of Asml.
Operators are taking a break for reflection ahead of tomorrow’s ECB meeting which is likely to cut rates by a quarter of a point. But the mood is still dampened by concerns for the technology sector after a profit warning from Dutch chip giant Asml, which caused indexes and stocks in the sector to slide, including the American giants Nvidia and AMD. Also weighing on the sector are rumors of possible restrictions on sales in the Gulf countries. In terms of macroeconomics, there was a lack of relevant data on the day except for inflation in the United Kingdom which decreased in September to +1.7% in the year from +2.2% previously. All eyes are also on oil which is still under special scrutiny after yesterday’s shower. In the morning the price rises slightly with December Brent above 74 dollars per barrel (+0.2%) and WTI above 70 dollars (+0.3%). In terms of currencies, the euro fell against the dollar to 1.088 from 1.0904 at the end of yesterday.
The Tokyo Stock Exchange ends trading with a decline, thanks to a correction of US stock indices, after less than encouraging signs from technology, with the drop in sales of Dutch chip producer ASML, which emphasize the restrictions imposed. with the United States exporting to China. The benchmark Nikkei index recorded a loss of 1.83%, at 39,180.30, giving up 730 points. In terms of currency, the yen is stable against the dollar, at 149.20, and against the euro at 162.40.
Hong Kong also opens the session in negative territory, with a sharp correction: the Hang Seng index first loses 0.86%, sliding to 20,144.75 points. Mainland Chinese markets, therefore, start in the red amid expectations of new stimulus to relaunch the economy: the Shanghai Composite index points to a decline of 0.41% in the first trading minutes, to 3,188.24 points, and suffered the decline of Shenzhen. changed so far 0.83%, to 1,835.21.
On a cyclical basis, the trend in consumer prices in the United Kingdom slows down in September. According to the Office for National Statistics, inflation stood at +1.7% annually compared to +2.2% in August. Every month the figure is almost unchanged. The main component of inflation (including energy, food, alcohol and tobacco) increased by 3.2% annually but still marked a slowdown compared to 3.6% in August. Both the overall consumer price data and the core data show inflation below analysts’ forecasts.
2024-10-16 06:11:00
#Stock #market #Europe #start #falling #Wall #Street #Tokyo #closes #negative
