The New York Stock Exchange was hesitant to open on Thursday, falling slightly after recovering the day before: around 2 p.m., the Dow Jones lost 0.30%, the S&P 500 0.24% and the Nasdaq 0.24% .
Supported by results exceeding expectations, Paris continued its rise and gained 0.78%. Frankfurt (+ 0.59%), London (+ 0.29%) and Milan (0.61%) advanced more moderately.
Main news of the day, the European Central Bank (ECB), as expected, confirmed its monetary support measures for the economy while the expected rebound in activity is delayed. ECB President Christine Lagarde judged Thursday “premature” to discuss a gradual end of the emergency monetary program (PEPP) against the pandemic.
Decided in March in response to pressure on bond rates, the “significant” increase in the pace of public and private debt buybacks is set to continue. Pessimistic about the short-term economic outlook, Christine Lagarde nevertheless relies on “a firm rebound in activity” in the year thanks to vaccinations.
It is also urgent, according to her, to implement the European recovery plan, a program endowed with 750 billion euros must contribute “to faster, stronger and more sustainable growth”, she recalled.
Virtual climate summit
Another major event, the virtual world climate summit organized by the American president, on the occasion of Earth Day.
Joe Biden unveiled a new American objective of reducing polluting emissions, almost doubled, from 50% to 52% by 2030 compared to 2005, marking the return of the United States in the fight against global warming.
Chinese President Xi Jinping, for his part, reaffirmed China’s goal of carbon neutrality by 2060.
Japan has also raised its CO2 emissions reduction target to 46% by 2030 compared to their 2013 levels, from a previous target of 26%.
In economic indicators, claims for unemployment benefits continued to decline last week in the United States, reaching a new low since the start of the crisis, while analysts expected a slight increase.
American Airlines continues to lose
American Airlines (-1.31% to $ 20.73) continued to lose several million dollars a day in the first quarter, but sees “signs of a continued recovery in demand” in air traffic.
Credit Suisse shaken by Greensill and Archegos
Around 2:00 p.m. GMT, Credit Suisse shares fell 2.09% to 9.19 Swiss francs. The Swiss bank, affected by the bankruptcy of the British finance company Greensill and the implosion of the American fund Archegos, suffered a net loss of 252 million Swiss francs in the first quarter, and expects additional losses of 600 million Swiss francs. francs on this fund in the second quarter.
The parent company of Greensill Capital, a financial company whose bankruptcy last month shakes many companies around the world, has been placed in liquidation.
Hermès amazes
Hermès sales (+ 2.34% to 1,051.00 euros) reached 2.1 billion euros in the first quarter, increasing by 38% compared to 2020 and even exceeding, like those of its counterparts LVMH (+ 1.47% to 650.70 euros) and Kering (-0.25% to 650.60 euros), their level before the Covid-19 crisis.
Drop in oil and the euro, bitcoin stable
Oil prices fell again on Thursday, weighed down by a surprise increase in crude stocks in the United States last week and the circulation of Covid-19 in several regions important for the demand for crude.
Around 2:10 p.m. GMT, a barrel of Brent from the North Sea for June delivery continued to decline (-0.37% to 65.08 dollars) in London. In New York, the US barrel of WTI for the month of June lost 0.15% to 61.28 dollars. The euro fell (-0.12%) against the greenback, at 1.2020 dollar. Bitcoin stabilized (-0.30%) at 54,754 dollars.
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