European stock markets rose again on Thursday in line with their trend at the start of the week, with the first good news on inflation in the euro zone prolonging the rebound initiated by the drop in tensions on the banks.
After three sessions of increases, the European markets continue: around 11:15 GMT, London rises by 0.94%, Frankfurt by 1.23% and Milan by 1.25%.
Over the first four sessions of the week, they gain between 3.1% and 4.6%.
The Paris Stock Exchange rose sharply again on Thursday (+1.34%), returning to 7200 points and relegating the March shocks to the banking system more and more to the background.
The star CAC 40 index advanced by 96.26 points to 7283.25 points around 1:30 p.m.
On Wednesday, he had already gained 1.39%.
The CAC 40 is heading for its second quarter in a row with a jump of more than 10%, a first since 2009.
Wall Street is also preparing to open higher, around 0.6% according to the futures contracts of the three main indices at the same time, confirming the net gains of Wednesday.
It is difficult to guess that there is still underlying banking stress, which threatens the accessibility of credit and a potential recession
", also describes Ipek Ozkardeskaya, analyst Swissquote Bank.
"The decline in inflation is confirmed"
With the data to come, attention will even turn to the main theme of the markets for more than a year: inflation, at the center of the publications which will be linked for two days.
First good news for investors: it experienced a spectacular drop in March in Spain to reach 3.3% over one year against 6% in February, due to a drop in electricity and fuel prices, according to an official provisional estimate.
On the bond market, the rates of European countries remained stable after falling sharply at the start of the session.
Already, in several regions, “
the decline in inflation is confirmed
,” noted Alexandre Baradez, analyst at IG France.
On Friday, inflation data for many European countries (including France), for the euro zone as well as for the United States (PCE indicator) will animate the session.
In the event of a stronger-than-expected pace of price increases for the headline or core inflation (which excludes volatile food and energy prices), central bankers risk resuming the steep path. rise in rates, a time influenced by the risk of a banking crisis.
The expected fall in the euro zone should “
be mainly due to a significant base effect.
Indeed, in March 2022 energy prices rose sharply following the Russian invasion.
Thus, mechanically, with energy prices being much lower in March 2023, global year-on-year inflation should fall,
” explains Christophe Boucher, Investment Director of Abn Amro IS.
On the side of oil and currencies
Oil prices are moving up slightly on Thursday, pushed by signs of increasing demand from the United States, the blockage of supplies from northern Iraq, but also by the possible decline in supply Russian.
The barrel of Brent from the North Sea for delivery in May took 0.76% to 78.88 dollars around 11:05 GMT.
Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery the same month, gained 0.95% to 73.66 dollars.
The euro took 0.31% against the greenback, at 1.0878 dollars.
Bitcoin climbed 0.75% to $28,605.
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