Stock market: what moves on the markets before the opening Thursday

(Photo: 123RF)

European stock markets were stable on Thursday, the day after a sharp rebound and pending the Bank of England’s monetary policy decision.

The clues

On Wall Street, around 7.15 a.m., the futures contracts S&P 500 increased by 3 points to 4,163 points, those of the Dow Jones were up 33 points to 34,151 points and those of the Nasdaq took 19 points to 13,510 points.

In Europe, markets were making small gains at mid-session. In London, the FTSE 100 gained 8 points to 7,048 points. In Paris, the CAC 40 took 4 points to 6,344 points and in Frankfurt, the DAX advanced 9 points to 15,180 points.

In Asia, after three public holidays, the Stock Exchange Tokyo jumped 1.8%, while Shanghai fell 0.16%. Hong Kong, which has remained open since Monday, rose 0.77%, reacting positively to the employment figures in the United States.

The context

On Wall Street, the indices ended in scattered order and the Dow Jones signed a new record.

The Bank of England (BoE) will disclose at 11 a.m. GMT (7 a.m. in Quebec) the decision of its monetary policy committee which should opt for the status quo on rates. A quarterly report on the economy as well as inflation forecasts are also expected on this occasion.

This meeting of the institution will give an indication of “how policymakers see the development of the UK economy over the coming months,” said Michael Hewson, analyst at CMC Markets UK.

“We can expect the central bank to raise its growth and inflation forecasts,” he continues, but “their biggest headache” will be to assess “the sustainability of the economic rebound”.

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Pharmaceuticals, currently stable in Europe, could be under pressure on Thursday, after a statement by the Biden government in favor of lifting intellectual property protections for COVID-19 vaccines, in order to speed up production and distribution. distribution of precious serums around the world.

This position, criticized by the International Federation of the Pharmaceutical Industry, comes after a G7 meeting at the end of which the great powers did not announce additional aid for sharing vaccines requested by the WHO.

India on Thursday recorded a record of nearly 4,000 deaths from COVID-19 and 412,000 new infections in 24 hours.

China has also announced the suspension of part of its economic cooperation with Australia, after the revocation last month of an agreement on the “New Silk Roads” by Canberra.

On the oil side

Around 7.15 a.m., the barrel of WTI US dollar fell 0.59% to US $ 65.24 and a barrel of Brent of the North Sea lost 0.55% to US $ 68.58.

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