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MARKET RATINGS. European markets opened weaker while Asian stocks fell on Monday after Wall Street posted its worst week since Halloween.
Stock market indices at 8:00 a.m
The DAX German gained 0.1%, while the CAC 40 in Paris fell by 0.1%. The British Index FTSE 100 lost 0.3%.
In New York, before the markets opened, the average Dow Jones Industrials lost 0.3% and the broader index S&P 500 fell by 0.1%.
In Asian markets Hong Kong fell by 1.9% and Shanghai slipped 1.4%.
In South Korea it is Kospi lost 0.4%. THE Japanese markets were closed for a holiday.
He in turn S&P/ASX 200 The Australian lost 0.5%.
On the New York Commodity Exchange the price is oil lost 66 cents and is at $73.15 a barrel.
The context
The boss of Evergrande NEV, the automobile division of the Chinese real estate giant with astronomical debts, is being arrested by authorities, the subsidiary said, at a time when its parent company’s situation worried markets. The stock was down 6% at the close of trading.
Chinese stocks were among the few that failed to benefit from the market rally in 2023, closing with a loss of more than 10% as investors hoping for a comprehensive stimulus plan to support the world’s second-largest economy were disappointed.
Investors’ expectations of key interest rate cuts from central banks are now somewhat less optimistic, which was enough to drive up the cost of government debt. The US 10-year yield, the benchmark maturity, is above 4% (4.05% at around 7:25 a.m. on Monday).
However: “If the stock market has not maintained its pre-Christmas exuberance, futures contracts suggest that investors continue to believe that the ECB and the Fed will implement rapid and massive easing in 2024,” nuances Gilles Moëc, chief economist at Axa IN THE .
The most important economic data of the week will be the release of the CPI price index in the United States for December on Thursday. It will be eagerly awaited by central bankers, some of whom are expected to speak later in the week.
Boeing swept away
American manufacturer Boeing’s share price began to fall on the New York Stock Exchange on Monday after a door on one of its planes being torn off mid-flight led to the shutdown of numerous planes.
The stock fell 7.6% in electronic trading before Wall Street opened.
In Europe, its rival Airbus’ performance rose 2.48%, the best performance in the Paris flagship market.
Shell will lose value
The British oil and gas giant Shell (SHEL) said Monday that it expects natural gas sales to increase in the fourth quarter due to increasing demand as winter begins.
Conversely, it expects an “adjusted” loss (excluding special items) in the derivatives and chemicals division and expects heavy write-downs across the group. The stock fell 1.81%. The entire industry also suffered from the drop in oil prices: BP (BP) return 1.34%, Eni (ENI.DE) 2.59% etc TotalEnergies (TTE) 1.79%.
Oil decline
Oil prices fell on Monday after Saudi Arabia announced a drop in the price of a barrel, reigniting concerns about demand and internal disagreements within the Organization of the Petroleum Exporting Countries (OPEC).
The Barrel of Brent fell 2.81% to $76.55, and the Baril of the WTI 3.05% to $71.56 around 7:15 a.m. Monday.
L’Euro remained stable against the dollar (+0.02%) at 1.094 5 US dollars ($US).
The Bitcoin rose 1.20% to $44,780.
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