Global markets are at half mast on Tuesday, in a session marked by activity indicators around the world and following the debate on the raising of the ceiling of the American debt.
Stock market indices at 8 a.m.
London and Frankfurt lost less than 0.1% at the start of the session in Europe. Paris slipped by 0.6%.
In New York, before the opening of the markets, the Dow Jones average of industrial stocks and the broader S&P 500 index yielded 0.1%.
In Asia, the Nikkei 225 fell 0.4% in Tokyo. The Shanghai stock market plunged 1.5% and the Hang Seng 1.3% in Hong Kong. Sydney fell less than 0.1% and Seoul gained 0.4%.
On the New York Commodities Exchange, the price of oil dropped 15 cents US to US$71.90 a barrel.
The context
Economic growth in the private sector in the euro zone slowed in May, reaching its lowest level in three months, weighed down by the drop in industrial production, according to the Flash PMI index published on Tuesday by S&P Global.
“The PMI data suggests an expansion of eurozone GDP in the second quarter, driven by the good performance of the services sector,” commented Cyrus de la Rubia, economist at Hamburg Commercial Bank, a partner institution of S&P to develop the report. PMI indicator.
Those for the United States are published shortly after the opening of Wall Street.
Investors will keep an eye on the soap opera of the moment, the negotiations on raising the US debt ceiling and the risk of default as early as June if no agreement is reached.
Joe Biden and opposition leader Kevin McCarthy wanted to believe in a way out of the crisis on Monday after a meeting between them, but their disagreements have not yet been overcome.
However, “the strength of equities despite the rise in bond market rates”, and the fact that gold does not benefit from its status as a safe haven in crises “indicate that investors are watching the debt ceiling saga American like an American movie, knowing that there will be a happy ending,” said Ipek Ozkardeskaya, an analyst at Swissquote Bank.
Vivendi picks up
Vivendi shares fell 6.69% after sales of shares by a company linked to Vincent Bolloré, while investors were expecting a capital increase.
This operation goes against market rumors concerning a possible takeover bid by Vincent Bolloré on Vivendi, of which he is the reference shareholder and owns 29% of the capital.
Luxury patina
Luxury companies, which have risen sharply on the stock market this year, are falling sharply in Europe. Hermès lost 4.04%, LVMH 3.05%, Kering 1.90%, Moncler 2.81% and Burberry 1.72%.
On the side of oil and currencies
Oil rose slightly: the barrel of Brent from the North Sea for delivery in July gained 0.67% to US$76.50 and the barrel of West Texas Intermediate (WTI), for delivery the same month, for which it is the first day of use as a benchmark contract rose 0.71% to US$72.56.
The euro lost some ground against the US dollar (-0.33%), at US$1.0777. Gold fell 0.72% to US$1,957.58 per ounce.
The pound fell to its lowest level in a month against the dollar on Tuesday as British services fared slightly worse than expected in May. It was worth US$1.2380, down 0.46%.