Global stock markets fell on Friday and fears around the banking sector seemed to be picking up again, despite a lull this week with the takeover of Credit Suisse by UBS.
European stock markets opened lower: Paris lost 0.98%, London 1.01%, Frankfurt 0.96% and Milan 1.16% around 08:35 GMT.
The banking sector of the broader Stoxx Europe 600 index fell by 1.97%, the Credit Suisse share by 6.32% and that of UBS by 6.04% in Zurich.
In Paris, Societe Generale yielded 3.21%, the worst performance of the CAC 40 index, BNP Paribas also lost 2.42%.
In Frankfurt, Deutsche Bank slipped by 6.12% and Commerzbank by 3.71%.
Barclays lost 2.79% in London and HSBC 1.57%.
Read alsoThe losers of the takeover of Credit Suisse by UBS
Nervous investors?
For the Swiss national bank, the takeover of Credit Suisse by its competitor and compatriot UBS signaled the end of the crisis of confidence in the second Swiss bank, but the turbulence in the sector limited risk taking by investors on Friday.
A sign of investor nervousness, bond yields on European government debt fell sharply.
Wall Street ended in the green on Thursday, reassured by the idea that the US Federal Reserve could soon stop its rate hikes and by a statement from Treasury Secretary Janet Yellen who assured that the authorities would be "ready
to take additional measures if necessary
” to avoid contagion in the financial sector.
In Asia, Hong Kong lost 0.67% and Shanghai 0.64%.
Tokyo lost 0.13%, penalized by the rise in the yen.
Inflation in Japan slowed for the first time in over a year in February to 3.1%.
Read alsoOil: unexpected weekly rise in crude stocks in the USA
Oil market down
Cause and remedy for the difficulties of commercial banks, the central banks of the United States, England, Switzerland and Norway announced this week a new increase in their key interest rates, their main tool in the fight against inflation.
If the maneuver carried out by the powerful American Federal Reserve (Fed) was perceived as accommodating, the institution warned that the banking shock should "
lead to some tightening of credit conditions
", and ultimately have an impact on the economy. real.
For Ipek Ozkardeskaya, an analyst at Swissquote Bank, the market is polarized "
between two camps: financial stress and how the authorities deal with it, or promise to deal with it if new turbulence arises and the camp of recession fears
". .
“
On the macroeconomic data front, durable goods orders and the flash PMI indicator will be watched closely for further signs of potential weakness
” in the US economy, commented Ipek Ozkardeskaya.
In France, private sector activity experienced a “
sustained
” acceleration in March according to the flash PMI index.
PMI activity indicators in Germany and the euro zone are also expected on Friday.
On the oil market, the barrel of Brent from the North Sea for delivery in May lost 0.63% to 75.43 dollars, while the barrel of American WTI at the same maturity fell by 0.56% to 69.57 dollars. around 08:30 GMT.
The yen strengthened against most other currencies.
The Japanese currency gained 0.45% against the dollar at 130.17 yen per dollar.