(ABM FN-Dow Jones) Asian equity markets have a good Friday. The exchanges open today are making a profit.
Japan’s Nikkei index rose 1.4 percent to 29,801.14 points, and the Shanghai Stock Exchange rose 0.2 percent to 3,474.14 points. The Hong Kong Stock Exchange was closed today, as were the European stock exchanges and Wall Street.
However, the US jobs report is on the agenda today. Economists are forecasting a job growth of 675,000 for the month of March.
European stock markets closed higher on Thursday, which also ended the trading week. Euronext, like most international exchanges, is closed on Fridays and Mondays.
Investors got support from US President Joe Biden’s infrastructure program. He wants to invest billions of dollars in new roads, bridges and homes.
“While this is good news for the economy and supports stocks, it remains to be seen whether it will revive fears of the overheating economy,” said Charalambos Pisoros, an analyst at GFD Group.
On the macroeconomic front, it was announced on Thursday that industrial activity in the euro zone rose at a much faster pace in March. Manufacturing PMI increased from 57.9 to 62.5.
Separate indicators showed a similar picture. The German index rose sharply in March, as it did in France, Italy and Spain. Industrial activity in the Netherlands rose in March to its highest point since February 2018, and growth in the UK also accelerated.
German retail sales rose in February, but less sharply than expected. On a monthly basis, there was an increase of 1.2%, while the market expected an increase of 2.0%.
Company news
Atos fell 12.7 percent after the French firm reported accounting irregularities. On reviewing the numbers, irregularities were discovered in the accounting records of two US companies, which account for approximately 11 percent of sales and 9 percent of operating margin.
Sodexo has seen a sharp decline in its turnover in the past six months, but it expects organic growth for the second half of the year. Sodexo continues to describe conditions as volatile, especially in Europe, where new waves of contamination with the Coronavirus are reported, the stock price closed 1.0 percent higher.
The European semiconductor sector performed strongly on Thursday, after impressive investment plans from TSMC. ASML won 2.4% and Infineon 1.1%.
The share of Delivery Hero rose 3.9 percent in Frankfurt. On Wednesday evening, Prosus appeared to have increased its stake in Delivery Hero to 25 percent. In Amsterdam, Brosus rose 5.3 percent. The AEX is now an index with several technology stocks, which means that the index was one of the best indicators in Europe today.
Euro STOXX 50 3.945,96 (+ 0.7%) (slot 1/4)
STOXX Europe 600,432,22 (+ 0.6%) (1/4 slot)
DAX 15.107,17 (+ 0,7%) (slot 1/4)
CAC 40 6.102,96 (+ 0.6%) (slot 1/4)
FTSE 100 6.737,30 (+ 0,4%) (1/4 aperture)
SMI 11118.03 (+ 0.6%) (1/4 aperture)
AEX 708,43 (+ 1,2%) (1/4 aperture)
BEL 20 3938.63 (+ 1.0%) (1/4 slot)
FTSE MIB 24.710,00 (+ 0,3%) (1/4 aperture)
IBEX 35 8.577,60 (0,0%) (1/4 slot)
US stocks
Wall Street keeps its doors closed today.
US stock markets closed higher on Thursday, with technology funds performing particularly strongly in the first trading day of the second quarter, while the market was flooded with a raft of economic data.
The S&P 500 closed above 4,000 points for the first time on Thursday.
Many investors hope stocks will continue to rally in the second quarter, buoyed by the prospect of strong economic growth with the expansion of the Corona vaccine rollout and by the Biden government’s spending programs.
After a $ 1.9 trillion coronavirus stimulus plan, Biden unveiled a larger infrastructure plan on Wednesday.
“We are entering a period where there is a little bit more risk and that is why I want a more balanced approach,” said analyst Lars Skovgard Andersen of Danske Bank Wealth Management. Andersen believes IT stocks like Microsoft and Salesforce.com could provide a buffer when cyclical stocks lose momentum.
On the macroeconomic front, it was revealed on Thursday that 719,000 people filed for unemployment benefits in the United States for the first time last week, with economists expecting 675,000 people.
Two industry PMIs for March indicated an acceleration in growth. The Markit Economics index rose from 58.6 in February to 59.1 last month, while the ISM index rose from 60.8 in February to 64.7 in March.
Construction spending in the United States fell 0.8 percent month-on-month in February. On an annual basis, there was an increase of 5.3 percent.
Company news
Micron Technology rose 4.5 per cent, after the memory chip producer came after the market with strong quarterly numbers on Wednesday. The Wall Street Journal also reported that Micron may partner with Western Digital to bid for Kioxia Holdings, which would estimate the value of Japanese semiconductors at around $ 30 billion. Western Digital scored more than 6.0 percent higher.
Prices for semiconductors like Qualcomm and Advanced Micro Devices increased 3.5 percent and 3.0 percent, respectively.
Ford shares fell 1.0 percent. The automaker has to suspend production at several plants in the United States due to a growing shortage of chips. The Taiwan Semiconductor Industry Corporation announced Thursday a three-year plan to invest $ 100 billion to end the chip shortage.
Pfizer closed almost flat and BioNTech was up over 4.0 percent. New data showed that the Corona vaccine used by pharmacists will also protect against the South African alternative.
Meanwhile, Johnson & Johnson has confirmed that a batch of the Corona vaccine it produces at its Emergent BioSolutions facility does not meet its quality standards, leaving 15 million doses inoperable. Emergent’s share is down by more than 13.5%. J&J lost nearly 1.0 percent.
Microsoft has signed a deal worth nearly $ 22 billion with the US military to provide augmented reality headphones. The stock rose 2.8 percent.
Sources for the Wall Street Journal report that the US Securities and Exchange Commission has opened a preliminary investigation into the risks surrounding Archegos Capital Management. A large US investment fund was recently forced to liquidate tens of billions of dollars into positions.
S&P 500 4,019.87 (+ 1,2%)
Dow Jones 33.153.21 (+ 0.5%)
Nasdaq Composite 13.480.11 (+ 1.8%)
Evaluation
The EUR / USD is trading at 1.1780. When the US stock markets closed on Thursday, the currency pair was still trading at 1.1772.
USD / JPY 110.53
EUR / USD EUR 1,1780
EUR / JPY 130.19 yen
Macro agenda:
00:00 Chinese stock exchanges open
00:00 Japanese stock exchanges open
00:00 Hong Kong stock exchanges closed
09:00 European stock exchanges close
14:30 Job growth and unemployment – March (US)
3:30 pm Wall Street closed
15:45 PMI New York – Mar (US)
Company news:
– There are no items on the agenda
ABM Financial News; [email protected]; Revised text: +31 (0) 20 26 28999.
From Beursplein 5, eds ABM Financial News Developments in the stock markets, and the Amsterdam Stock Exchange in particular, are closely watched. The information in this column is not intended as professional investment advice or as a recommendation to make specific investments.
