European stock markets closed slightly down on Monday, digesting a fruitful week, while Wall Street evolves without much movement, the session being shortened on the eve of the American national holiday which is a public holiday.
In Europe, all the main places closed in the red: Paris fell by 0.18%, London by 0.06% and Frankfurt by 0.41%.
Wall Street opened in dispersed order and kept the same trend around 4:00 p.m. GMT. The Dow Jones gained 0.14%, the S&P 500 grabbed 0.05%, but the Nasdaq dropped 0.04%. Due to the proximity to the national holiday, Tuesday, marking the declaration of independence of the United States, the closing of the session was brought forward to 5:00 p.m. GMT.
The manufacturing activity index for June in the United States published during the session showed that it fell for the eighth consecutive month, beating market expectations, according to data published by the professional federation ISM.
In detail, the index measuring this activity fell in June to 46%, against 46.9% a month earlier, while analysts rather expected a slight increase to 47.1%, according to the published consensus. by briefing.com.
“These macroeconomic elements are always highly regarded, they make it possible to build different scenarios as to the strategies of central banks”, judge Lucas Excoffier, in charge of continental brokerage at Oddo BHF.
The US central bank (Fed) has raised rates by five percentage points since March 2022, to bring them to a range between 5% and 5.25%, before pausing at its last meeting in mid-June .
The next meeting of the American monetary institution is scheduled for July 25 and 26 and almost all the officials of the institution had spoken, in mid-June, in favor of a new increase.
Tesla leaps to New York
The American electric vehicle manufacturer Tesla delivered 466,140 cars in the second quarter, a figure above expectations despite a difficult market.
These volumes represent an increase of 83% compared to the same period last year, and 10% compared to the first three months of 2023.
“This data should allow the action to rise again strongly, but the numerous price cuts, which have enabled this performance, could put a little more pressure on the manufacturer’s margins”, notes Vincent Boy, market analyst at IG. France.
The action jumped 8.39% around 1:50 p.m. GMT in New York.
In Europe, auto stocks ended up scattered. In Frankfurt, Volkswagen gained 0.68% while BMW dropped 0.28%, Mercedez-Benz 0.07% and Porsche AG 0.09%.
Aztrazenaca not assertive enough
Shares in pharmaceutical company Aztrazenaca fell 8% in London after the company provided an update on its lung cancer drug datopotamab deruxtecan.
The laboratory considers that the test “demonstrated a statistically significant improvement” but analysts, like those of Jefferies, regret “the lack of details”, and formulations suggesting “less significant profits than expected” after the use of the drug.
Oil companies on the rise
Helped by the recovery in crude prices, oil stocks continued to advance in New York, like ExxonMobil (+ 1.05% around 4 p.m. GMT) or ConocoPhillips (+ 1.21%). In Europe, BP gained 2.72% and Shell 1.58% in London, Eni 1.74% in Milan, and TotalEnergies 1.81% in Paris.
Oil prices rose for the fourth straight session with two of the world’s three largest producers, Russia and Saudi Arabia, announcing new supply limits.
The barrel of Brent from the North Sea, for delivery in September, which is the first day of use as a benchmark contract, took 0.76% to 75.98 dollars around 3:55 p.m. GMT.
Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in August, also gained 0.76% to 71.18 dollars.
The euro up slightly
The euro was up slightly (+0.11%) against the greenback, at 1.0922 dollars for one euro around 3:55 p.m. GMT.
Bitcoin advanced 1.53% to $31,060.
bur-mgi/mdr
2023-07-03 16:24:59
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