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Asia and Europe | Global stock markets are recovering

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(Paris) Stock markets recovered on Friday after their halt the day before, won by a slight optimism, especially in the technology sector, despite fears of recession, pending a busy week.

European markets ended the week on a positive note: in Paris, the CAC 40 gained 0.63% and the Dax in Frankfurt 0.76%, while London advanced by 0.30%. The flagship index of the Milan Stock Exchange ended up 0.70%.

The broader European Stoxx 600 index gained 0.37% to end stable (-0.09%) over the week.

Wall Street was also well oriented, in the wake of technology stocks: the NASDAQ rose by +1.51%, supported by good results from Netflix, and the broader S&P 500 index advocated +0.88%. The Dow Jones was up 0.33% around 12:20 p.m. EST.

Stock market indices had come to a halt on Thursday after their considerable advance at the start of the year, steeped in doubts about expectations of a moderation in interest rate hikes and concerned about risks of recession after the publication of lackluster economic data. in the USA.

Many analysts consider that the equity markets have risen very quickly to very high levels and that they currently have no arguments to continue their progression at this rate.

For Europe, “today is a balancing session before the publication of highly anticipated corporate results” next week, explained to AFP Christopher Lhuillier, head of expert advice at Milleis.

Macroeconomic indicators will also feed the sessions with, as of Monday, January household confidence in the euro zone before the estimates of the PMI leading indicators on Tuesday and the first estimate of the gross domestic product for the fourth quarter in the United States on Thursday.

Spotlight on Netflix

Netflix climbed 6.34% around 12:15 p.m. (Eastern time) after its results published Thursday, during which the video platform announced an increase in its subscribers to 230.75 million. The founder of the company, Reed Hastings, has also stepped back a little, giving up his place as co-CEO.

At $338, the stock remains down 50% from its November 2021 high. new sources of income, such as a new cheaper subscription, with advertising.

12,000 jobs cut at Alphabet

After Amazon, Meta and Microsoft, it is the turn of Alphabet, the parent company of Google, to announce a large-scale social plan with the elimination of around 12,000 jobs worldwide, or 6% of its workforce. totals. The stock gained 4.11%.

Air hole for Ørsted

The Danish energy group unveiled preliminary results on Thursday, with an operating profit, excluding new partnerships, of 21.1 billion crowns (2.8 billion euros), at the bottom of its forecast range.

The company included in its accounts an accounting charge of 2.5 billion crowns on the construction site of a wind farm in the United States due to high inflation, and suffered from delays on other projects. The stock fell 8.70% to 608.50 in Copenhagen.

On the side of currencies and oil

The yen sank after the release of the latest data on inflation in Japan, which is now at a new high for 41 years.

Around 12:15 p.m. (Eastern Time), the yen fell 1.11% to 129.86 yen per dollar and 1.17% to 140.74 yen per euro.

The euro was stable (+0.05%) at 1.0838 dollar.

On the oil side, a barrel of Brent from the North Sea for delivery in March rose 0.92% to 86.96 dollars.

Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in February, which is the last day of trading, took 0.83% to 81.00 dollars.

Bitcoin was up 2.13% to $21,387.



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