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Most of the world’s stock markets started the day higher on Friday, welcoming with optimism a resumption of diplomatic contacts between China and the United States.
On Friday, the world’s stock markets welcomed with optimism a first sign of easing of geopolitical tensions between the United States and China, in a global economic context still uncertain.
The European markets started the last session of the week up. Around 11 am, Paris was up 0.99%, London 0.46%, Frankfurt 0.61% and Milan 1.15%. On the Zurich Stock Exchange, the leading index SMI gained 0.67%.
In Asia, Tokyo took 0.90%, galvanized by corporate results. Hong Kong, which had started the session up, was down 0.58% on Friday at 11 am while Shanghai lost 1.12%.
Wall Street had ended in small shape on Thursday, weighed down by renewed stress around U.S. regional banks, after PacWest Bank reported that many customers had withdrawn deposits in early May. The Dow Jones index ended down 0.66% and the S&P 500 index down 0.17%, while the Nasdaq Composite rose 0.18%.
Optimistic outlook
This stock market optimism is due to the resumption of contact at a high diplomatic level between Washington and Beijing. The US President’s National Security Advisor, Jake Sullivan, met with Chinese diplomatic chief Wang Yi on Wednesday and Thursday in Vienna, after more than two months of cold weather.
In addition, the latest U.S. economic data shows “signs of an easing labor market and cause for optimism about the inflation outlook”, according to Taylor Nugent of National Australia Bank.
However, some investors fear a slowdown in the economy in the face of weakening consumption. For John Plassard, investment specialist at Mirabaud, “renewed banking stress, the debt ceiling deadline and the true intentions of central bankers” are weighing on investor sentiment.
“There would be very serious repercussions not only for the U.S. but also for the global economy in the event of a U.S. debt default”, International Monetary Fund communications director Julie Kozack said Thursday.
A meeting on the debt scheduled for Friday between Joe Biden and opposition lawmakers in the House of Representatives has been postponed until next week.
Oil and gold down
Brent crude oil lost a dollar to USD 74.53 a barrel early Friday, down from USD 75.61 at the close of trading Thursday.
Gold traded at USD 2,011.59 per ounce, down from USD 2,019.26 from the previous evening.
The pound hit $1.2533 early Friday, up from $1.2514 late Thursday. The euro rose to $1.0928 from $1.0917, while the dollar rose to JPY134.88 from JPY134.33 against the yen.
Read also >CAC 40: Paris stock market declines in the face of the threat of inflation
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Most of the world’s stock markets started the day higher on Friday, welcoming with optimism a resumption of diplomatic contacts between China and the United States.
On Friday, the world’s stock markets welcomed with optimism a first sign of easing of geopolitical tensions between the United States and China, in a global economic context still uncertain.
The European markets started the last session of the week up. Around 11 am, Paris was up 0.99%, London 0.46%, Frankfurt 0.61% and Milan 1.15%. On the Zurich Stock Exchange, the leading index SMI gained 0.67%.
In Asia, Tokyo took 0.90%, galvanized by corporate results. Hong Kong, which had started the session up, was down 0.58% on Friday at 11 am while Shanghai lost 1.12%.
Wall Street had ended in small shape on Thursday, weighed down by renewed stress around U.S. regional banks, after PacWest Bank reported that many customers had withdrawn deposits in early May. The Dow Jones index ended down 0.66% and the S&P 500 index down 0.17%, while the Nasdaq Composite rose 0.18%.
Optimistic outlook
This stock market optimism is due to the resumption of contact at a high diplomatic level between Washington and Beijing. The US President’s National Security Advisor, Jake Sullivan, met with Chinese diplomatic chief Wang Yi on Wednesday and Thursday in Vienna, after more than two months of cold weather.
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Most of the world’s stock markets started the day higher on Friday, welcoming with optimism a resumption of diplomatic contacts between China and the United States.
On Friday, the world’s stock markets welcomed with optimism a first sign of easing of geopolitical tensions between the United States and China, in a global economic context still uncertain.
The European markets started the last session of the week up. Around 11 am, Paris was up 0.99%, London 0.46%, Frankfurt 0.61% and Milan 1.15%. On the Zurich Stock Exchange, the leading index SMI gained 0.67%.
In Asia, Tokyo took 0.90%, galvanized by corporate results. Hong Kong, which had started the session up, was down 0.58% on Friday at 11 am while Shanghai lost 1.12%.
Wall Street had ended in small shape on Thursday, weighed down by renewed stress around U.S. regional banks, after PacWest Bank reported that many customers had withdrawn deposits in early May. The Dow Jones index ended down 0.66% and the S&P 500 index down 0.17%, while the Nasdaq Composite rose 0.18%.
Optimistic outlook
This stock market optimism is due to the resumption of contact at a high diplomatic level between Washington and Beijing. The US President’s National Security Advisor, Jake Sullivan, met with Chinese diplomatic chief Wang Yi on Wednesday and Thursday in Vienna, after more than two months of cold weather.
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