(Paris) European stock markets rose on Friday with the stronger than expected slowdown in inflation in the euro zone, and before the publication of that of the United States, the final episode of a turbulent first quarter but overall very positive for the indices.
As throughout the week, the European stock markets were well oriented: around 7:05 a.m. (Eastern time), Paris rose by 0.53%, Milan by 0.26%, Frankfurt by 0.40%. Over the first three months of the year, they all gained more than 12%.
London showed a gain of 0.16% but only 3.07% over three months.
All three major Wall Street indices are expected to open close to breakeven according to futures at the same time.
After a start around equilibrium, the markets rose with, in particular, the publication of the annual inflation rate for the euro zone. It fell in March for the fifth consecutive month, to 6.9% year on year, after 8.5% in February, thanks to the lull in energy prices, according to Eurostat. Analysts had expected 7.1%.
However, “removing swings in energy prices which exploded with the war in Ukraine and therefore benefit from favorable base effects” — “the inflation picture is not as optimistic” warns Ipek Ozkardeskaya, Swissquote Bank analyst.
Inflation in services is still very high, and is much more difficult to fight for central banks, which must therefore maintain a more restrictive monetary policy.
Investors are now waiting for the PCE consumer price index in the United States, favored by the American Central Bank to calibrate its monetary policy.
Sartorius Stedim Biotech (SSB), equipment supplier for the biopharmaceutical sector, announced Friday the acquisition of the French biotech Polyplus for nearly 2.4 billion euros. The action of the group, which achieved a turnover of around 3.5 billion euros in 2022, fell by 6.71% on the Paris Stock Exchange. In Germany, Sartorius AG, which has the majority of Stedim’s share capital and voting rights, lost 5.71%.
The company specializing in the launch of small Virgin Orbit satellites, in difficulty after the failure of a space mission, will lay off 85% of its employees, or 675 people according to a document published on the site of the American Stock Exchange Constable (SEC ).
In mid-March, the company had suspended its operations while it held discussions on possible sources of financing and explored strategic opportunities. She had indicated a few days later to resume her activity. On Thursday night in New York, Virgin Orbit stock ended down 16%. Electronic exchanges before the session augured a fall of nearly 50%.
Oil prices were rising, in line with the trend of the week: a barrel of Brent from the North Sea was worth 79.55 dollars (0.35%) and that of American WTI 74.82 dollars (0.61%) around 6:50 a.m. (Eastern time). In five days, they take more than 6% and 8% respectively.
The euro fell 0.32% to $1.0870, and bitcoin 0.85% to $27,910.
On the bond market, rates remained stable in the United States and Europe, at 3.55% for the American 10-year loan and 2.35% for the German loan with the same maturity.
