European stock markets continued their march forward Tuesday at midday, galvanized by encouraging prospects for economic recovery and appeasement on the bond front.
Around 13:10 GMT, Paris took 0.20%, remaining above the threshold of 5,900 points exceeded the day before for the first time since February 2020. In Frankfurt, the Dax advanced by 0.25% after having signed a new historic record in session.
London rose 0.29% and Milan 0.44%.
Read also: The rise in rates sows trouble on the markets
On the other side of the Atlantic, futures contracts on the main American indices suggested a positive opening, that of the Dow Jones rose by 0.36% and that of the S&P 500 by 0.89%.
That of the Nasdaq rebounded 2.06% after a close in the red the day before.
Earlier in Asia, after three sessions in the red on the Tokyo Stock Exchange, the flagship Nikkei index had recovered 0.99% and the expanded Topix index 1.27%.
For its part, the Hong Kong Stock Exchange gained 0.81% the day after significant losses.
In mainland China, the Shanghai Stock Exchange, on the other hand, fell 1.82%.
In the immediate future, the decline in the American ten-year rate, which was moving around 1.54%, or down 5 basis points compared to the close of the day before, is "
a favorable factor for equities
", notes Franklin Pichard, the Managing Director of Kiplink Finance.
In its wake, bond yields in the euro zone also fell.
"
In the United States, we welcome the support measures, a pledge of economic activity which will very quickly recover, moreover at a rapid pace
," explains Hervé Goulletquer, strategist for LBPAM.
The OECD sharply revised upwards, to 5.6%, its forecast for global growth in 2021, counting on the combined effects of the US mega-stimulus plan and vaccination, in its interim outlook published on Tuesday.
In addition, in the euro zone, the fall in gross domestic product (GDP) was slightly smaller than expected in 2020, to -6.6% against -6.8% initially announced, according to revised figures released Tuesday by the European Statistical Office Eurostat.
Read also: The Paris Bourse in the green at mid-session (+ 0.38%)
At a time when the American House of Representatives must give its final approval during the day to an aid plan of 1.900 billion dollars, pledge of a massive recovery across the Atlantic, sectors dependent on the economy, battered on the stock market during the Covid crisis, again aroused the interest of investors.
Conversely, fears of an increase in inflation in favor of this recovery, materialized in the strong increase in bond yields in recent weeks, made the attractiveness of technology stocks pale, whose valuation is very dependent on 'a low interest rate environment.
