European stock markets opened higher on Tuesday, after a mixed start to the week due to the sharp rise in oil prices, which somewhat slowed the rebound in indices that began in mid-March.
Green was in order in Europe for most indices: around 07:15 GMT, Paris gained 0.22%, close to its historic record, Frankfurt 0.36%, London 0.54% and Milan 0.24%.
In Asia, the Tokyo Stock Exchange gained 0.35%.
Shanghai rose 0.46% in latest trade, Hong Kong fell 0.45%.
After jumping on Monday, oil is keeping its gains: at the same time, a barrel of Brent for June delivery even gained 0.54% to 85.39 dollars and a barrel of WTI for May delivery rose by 0.63 % at $80.93.
Both are up nearly 7% since Monday.
“
Yes, the tightening of supply stimulates oil prices (…).
However, a rapid rise also slows global growth
” and therefore demand for black gold, which can cap the price spike, said Ipek Ozkardeskaya, analyst at Swissquote.
Read alsoOPEC announcements drive up the price of oil.
Pressure on Western central banks
The rise puts pressure on Western central banks as it raises inflation risks.
This has declined in recent months mainly due to the decline in energy prices, such as oil and gas.
Several central banks have therefore decided to slow down the rise in their interest rates, such as the American Central Bank during these last two meetings.
On Tuesday, the Australian Central Bank even decided to take a break and not raise its rates for the first time in 10 meetings.
The governor however declared that “
further monetary tightening may be necessary
” to bring Australian inflation, currently at 6.8% over one year, towards the 2 or 3% targeted by the institution.
Among the indicators expected by investors on Tuesday are the evolution of producer prices in February in the euro zone, as well as durable goods orders in the United States.
They will also start looking closely at US employment data, with a first indicator on the number of job vacancies.
The monthly report for March is due on Friday but markets in Europe and the US will be closed on that day and it will be necessary to wait until Tuesday until the end of the long Easter weekend to know their reaction.
Elsewhere in Germany, exports increased by 4% over one month in February, up for the second month in a row.
Read alsoInflation, concern about the soundness of banks... is it time to rush into gold?
L'Oréal buys in Australia
L'Oréal, the world's number one cosmetics company, announced on Tuesday the signing of an agreement with Natura & Co for the acquisition of Aesop, the Australian luxury cosmetics brand, valued at 2.525 billion dollars.
The L'Oréal Luxe category (Lancôme, Yves Saint Laurent, Giorgio Armani, etc.) held first place for the second consecutive year in 2022 within the group's various divisions with 14.6 billion euros in sales (+ 18.6%).
The action gained 0.98% in Paris.
On the side of currencies and rates
The dollar was trying to stabilize against other currencies.
The euro was worth 1.0908 dollars (+0.08%) and the pound 1.2442 dollars (-0.10%) around 07:10 GMT.
Bitcoin recovered 1.89% to $28,110.
On the bond market, interest rates on government bonds remained stable, around 3.43% for US 10-year debt and 2.27% for German debt at the same maturity.
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