European shares are expected to rise again at the open
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European shares are expected to rise again at the open

European shares are expected to rise again at the opening

European shares are expected to rise again at the opening

by Laetitia Volga

PARIS (Reuters) – Major European stock markets are expected to rise slightly at the open on Wednesday thanks to good results from American companies and the possibility of resuming Russian gas deliveries to Europe.

The first available indicators show an increase of 0.3% for the Parisian CAC 40, 0.47% for the Dax in Frankfurt, 0.43% for the FTSE in London and 0.14% for the EuroStoxx 50.

Reports from Reuters indicate that the Nord Stream 1 pipeline is expected to resume service on Thursday as concerns over planned European gas supplies ease, and should once again help stock markets rally.

Joshua Mahoney, analyst at IG.

However, fear of a global recession has not been completely ruled out, and stocks’ rebound over the past week may also reflect a small bounce from “extreme levels of pessimism,” according to NAB’s Rodrigo Cattrell.

And on Wall Street, which closed sharply higher on Tuesday, Netflix shares rose about 13.9% in after-hours trading after announcing a smaller-than-expected loss to subscribers in the second quarter and an optimistic outlook for the current quarter.

Futures on major US indexes are currently pointing to a continuation of a 0.4% rise.

On Wall Street

The New York Stock Exchange closed higher on Tuesday as additional companies released better-than-expected results, giving a breath of fresh air to investors worried that high inflation will weigh on private sector earnings.

The Dow Jones rose 2.43% to 31,827.05 points, the S & P-500 increased 2.76% to 3936.69 points, and the Nasdaq Composite rose 3.11% to 11,713.15 points.

The S&P-500 hit its highest level since June 6, while the Nasdaq posted its strongest daily percentage rise since June 24.

Halliburton (+2.11%) posted a 41% rise in adjusted quarterly earnings, game maker Hasbro up 0.7% and Trust Financial 2.6% after reporting quarterly earnings that beat expectations.

Johnson & Johnson and IBM, which have warned of the impact of a stronger dollar, lost 1.46% and 5.24%, respectively.

In Asia

The Nikkei in the Tokyo Stock Exchange, up for the fifth consecutive session, gained 2.55%, led by a rise in technology shares in the wake of Wall Street.

Tech heavyweights like Tokyo Electron gain 4.84% and Advantest 4.85%.

Gained from the advance of global markets and Beijing’s promise to support the economy, Chinese actions are evolving/moving into the green.

The Shanghai Composite Index is up 0.56%, China’s CSI 300 Index is up 0.21%, and Hong Kong’s Hang Seng Index is up 1.29%.

the changes

The US dollar is falling slightly against a basket of global currencies (-0.12%) while the euro is extending its gains from the previous day on hopes that Europe can avoid a major gas shortage and the possibility that the European Central Bank will continue on Thursday with a rate hike. than expected.

The single currency rose 0.19% to $1,0243.

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In the bond market, the yield on the 10-year Treasuries stood at 3.0265%.

oil

Oil prices fell slightly under pressure from global central banks’ efforts to curb inflation and before the expected announcement of an increase in crude inventories in the United States with weak demand.

Brent lost -0.87% to $106.42 a barrel, and US light sweet crude (West Texas Intermediate, WTI) fell -0.33% to $103.88.

(Reporting by Leticia Volga; Editing by Miriam Rift)

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