The world stock markets are moving in dispersed order on Tuesday, Asia still suffering the blow of Chinese growth deemed disappointing, and Europe calmly awaiting the results of American banks and retail sales in the United States.
In Asia, the Shanghai Stock Exchange lost more than 2% in the last exchanges, and that of Hong Kong 0.37%. Tokyo, partly reassured by the gains on Wall Street, closed for its part managed to finish up a small increase of 0.32%.
On the Old Continent, around 0730 GMT, Paris (-0.03%) and London (+0.07%) were stable, Frankfurt fell slightly by 0.13%, as did Milan.
“Canadian inflation in June is in the spotlight, as are retail sales and industrial production in the United States,” comments John Plassard, investment specialist at Mirabaud.
June retail sales in the United States should give a crucial indication of the health of the consumer, which is the engine of American growth. Analysts are betting on retail sales up 0.5% in June from +0.3% in May, according to Briefing.com.
Investors are also looking at the results of US banks, whose publications follow one another since Friday.
The results of Bank of America and Morgan Stanley are in particular expected and “investors will be attentive to how these banks have benefited from the increase in interest rates” from the Federal Reserve, whose members must meet again. July 25 and 26.
Market participants are nearly unanimous (97%, according to CME Group futures products calculations) on another Fed rate hike in July, taking them to a range of 5.25% to 5 .50%.
Novartis: net profit up 54% in 2Q to $2.3 billion
The Swiss pharmaceutical giant Novartis, in full refocusing, publishes Tuesday a net profit up 54% in the second quarter under the effect of the fall in restructuring costs, to 2.3 billion dollars and again raises its forecast for 2023 .
In Zurich, the price of Novartis gained 2.80% around 07:30 GMT.
Different routes the automobile
The American Tesla wants to double the capacity of its factory in Grünheide, south of Berlin, to bring it to 1 million vehicles produced per year and has submitted a request for this to the regional state of Brandenburg, according to the press.
German car stocks moved in dispersed order in Frankfurt around 07:20 GMT: Mercedes-Benz fell by 0.46%, BMW by 0.13% and Volkswagen was stable (+0.03%).
In Paris, Renault gained 0.88% and Michelin 0.22%.
On the side of oil and currencies
Oil prices stabilized on Tuesday, after experiencing a second day of decline the day before, as operators doubted the strength of the Chinese recovery without government support measures.
The price of a barrel of Brent from the North Sea for delivery in September was stable around 07:20 GMT at 78.47 dollars, as was its American equivalent, a barrel of West Texas Intermediate (WTI), with maturity in August at 74.15. dollars, at the same price as at closing.
The euro gleaned 0.25% against the dollar, to 1.1265 dollar.
Bitcoin gained 0.36% to $30,041.
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2023-07-18 08:00:45
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