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After the rain, the good weather. Panic had set in and the European stock markets had plunged, after the fall of several American banking institutions <\/strong>and the difficulties encountered by Credit Suisse.<\/strong> This Friday, they are expected to rise, while forecasts on central bank rates have been reduced.<\/p>\n <\/p>\n By 10:00 a.m., Paris’ CAC 40 was up 0.92%<\/strong>, Frankfurt’s Dax was up 0.99%<\/strong>, London’s FTSE was up 1.16%<\/strong> and the EuroStoxx 50 was up 1.11%<\/strong>. Over the first four sessions of the week, the European Stoxx 600 index had lost nearly 2.7%.<\/strong><\/p>\n <\/p>\n <\/p>\n Faced with the situation, the Swiss Central Bank<\/strong> came to the support of the Swiss bank Credit Suisse, which helped to ease tensions on Thursday. Similarly, eleven American banks, including JPMorgan<\/strong>, agreed to inject 30 billion dollars<\/strong> into the coffers of First Republic Bank<\/strong>, on the verge of collapse, to avoid a domino effect after the failure of Silicon Valley Bank (SVB), Silvergate and Signature.<\/strong><\/p>\n <\/p>\n On Thursday, the European Central Bank opted for a half-point rate hike<\/strong>. It was also keen to reassure, explaining that the banks in the euro zone were solid and that the rise in interest rates<\/strong> should strengthen their margins. Euribor contracts, the barometer of market expectations, suggest that investors have fully priced in a quarter-point increase at the next meeting in May.<\/p>\n <\/p>\n The markets, for their part, are anticipating a quarter-point increase<\/strong> next week, although the probability of a status quo is also estimated at 20%.<\/p>\n <\/p>\n <\/p>\n In the United States, the New York Stock Exchange closed higher on Thursday<\/strong>, buoyed by a rebound in the financial sector after the major banks decided to rescue First Republic Bank. The bank’s stock closed up 10%<\/strong>, but was down 17%<\/strong> in after-hours trading, partly due to an announced dividend suspension.<\/p>\n <\/p>\n At around 10 a.m., the Dow Jones Industrial Average gained 1.17%<\/strong>, the S&P-500 gained 1.76%<\/strong>, while the Nasdaq Composite advanced 2.48%<\/strong>.<\/p>\n <\/p>\n In Asia, the Nikkei index of the Tokyo Stock Exchange gained 1.2%<\/strong> thanks to banking and electronics stocks, while the CSI 300 index of large caps in mainland China gained 0.50%<\/strong> and the Shanghai SSE Composite 0.73%.<\/strong><\/p>\n <\/p>\n <\/p>\n As for exchange rates, the dollar is down against other major currencies (-0.32%)<\/strong>, including the euro, which is back at 1.0646,<\/strong> while the yield on 10-year U.S. Treasury bonds is down slightly at 3.5525%.<\/strong><\/p>\n <\/p>\n For its part, the price of oil rose by more than 1%<\/strong> following profit taking. Brent crude gained 0.64% to $75.18<\/strong> a barrel<\/strong>, and U.S. light crude (West Texas Intermediate, WTI) rose 0.66% to $68.8.<\/strong><\/p>\n <\/p>\n Read also >Bankruptcy of the SVB : are we heading for a new financial crisis?<\/a><\/p>\nMobilization of banks<\/h2>\n
World stock markets rebound<\/h2>\n
Currencies down, oil up<\/h2>\n