(Paris) World stock markets are moving without a marked trend on Monday, after records last week, with the market keeping an eye on oil prices and companies in the sector, facing supply difficulties via the Red Sea trade route.
In Europe, around 7:30 a.m. ET, Paris was down 0.34%, Frankfurt was down 0.37% and Milan was down 0.39%, while London was up 0.54%.
On Wall Street, futures for the three major indexes ranged between 0.09% and 0.22%.
In China, the Shanghai Stock Exchange lost 0.40% and that of Hong Kong 0.97%, still plagued by concerns about China’s economic recovery.
The Tokyo Stock Exchange ended down 0.64% as investors remained cautious ahead of a monetary policy decision from the Bank of Japan (BoJ).
“Unlike other central banks where the focus is on rate cuts, speculation around the BoJ is still on when the negative interest rate policy might end,” the analysts commented of Deutsche Bank.
The BoJ has posted a rate on bank deposits with it which has been stuck at -0.1% since 2016 and remains determined to maintain a so-called ultra-accommodating monetary policy, in order to support the Japanese economy which remains fragile.
“Concrete guidance on the BoJ’s monetary policy could lead to significant movements in the yen markets,” noted Swissquote Bank analyst Ipek Ozkardeskaya.
In the foreign exchange market around 7:20 a.m. Eastern Time, the dollar was trading at 142.78 yen (0.44%) and the euro was up at 155.82 yen (0.63%).
The European currency also climbed 0.17% to $1.0914.
The BoJ meeting comes after those of the American and European central banks last week, which pushed stock indices to break records in the United States, France and Germany.
In recent weeks, Yemeni rebels, close to Iran, have increased attacks near the strategic Bab al-Mandeb strait, which separates the Arabian Peninsula from Africa.
Driven by concerns about supply difficulties via this trade route, oil prices were rising.
Around 7:20 a.m. (Eastern time), the price of a barrel of North Sea Brent for delivery in February rose 1.14% to $77.42. Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in January, gained 1.05% to $72.18.
The Danish Maersk, the German Hapag-Lloyd (4.61% in Frankfurt), the French CMA CGM and the Italian-Swiss MSC announced on Friday that their ships would no longer use the Red Sea “until further notice », at least until Monday or until passage “is safe”.
On Monday, the British giant BP (1.73%) also announced the suspension of all transit in the Red Sea.
On the London stock exchange, Shell advanced 1.32%. in Paris, TotalEnergies gained 1.14% and in Milan, Eni gained 1.12%.
In Frankfurt, Volkswagen (-0.95%), Mercedes (-0.96%) and BMW (-1.40%) fall after the German government decided to abruptly end aid for the purchase of electric cars , due to budget constraints.
Thyssenkrupp Nucera (1.59 in Frankfurt), specializing in the production of green hydrogen installations, saw its sales and operating profit increase significantly during the delayed financial year 2022-2023, but expects for that in course to an operational loss of around €50 million due to significant start-up costs required to develop its business.
The British telephone group Vodafone soared by more than 6% in London, after the French company Iliad’s proposal to merge their activities in Italy in the face of strong competition in this market.
