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POINTS MARKETS – Europe in a green state following a warning from the Fed



                * Stoxx 600 gets in the morning 0.15%
* The Fed is no longer raising rates
* It could also adjust the balance sheet adjustment
* Dollar and bond yields on the fine
* Business meetings and results remain the focus of attention

by Blandine Henault
PARIS, Jan. 31 (Reuters) - Major European equity markets are changing
until Thursday morning after a very cautious report released
The Federal Reserve (Fed), which helps to support risky assets
the dollar and bond yields.
In Paris, the CAC 40 progresses by 0.4% to 4,994.43 points around 9:30
GMT. In Frankfurt, Dax reached 0.33% and London FTSE
0.64%.
The EuroStoxx 50 index in the euro area declined by 0.1%
weakness of stock exchanges in Milan and Madrid, but
FTSEurofirst 300 wins 0.31% and Stoxx 600 is 0.15%.
In the middle of the night, the Fed suggested that his tightening cycle
Monetary policy could be completed by mentioning it
would be patient in terms of possible further increase due to
economic and financial uncertainty.
Her president, Jerome Powell, explained that the arguments in favor of society
continued rate hike "weakened" and released a press release
two days of the FOMC (Federal Open Market Committee)
another reference to the prospects for further increases in rates, and
a break with the discourse that was previously held.
"The Fed did not concern future increases in rates, which was not the case
more than four years ago and the renewal of the currency tightening cycle ",
John Plassard, for Mirabaud Securities.
"If Donald Trump is to rejoice, the markets also for support
the central bank will be overall in the event of a heavy blow. "
The US Central Bank has also opened the door
reducing its current balance sheet
$ 4.1 billion ($ 3.570 billion) that they could lead
to tear this strategy prematurely and maintain a portfolio of assets
more important than originally planned.
"The Fed surprised us, just like the markets, by accepting a tone
extremely friendly, "say economists at Société Générale.
"So far, we have maintained our forecast for two increases in rates
25 basis points, one in June and one in September, but after [la réunion
d'hier], the risk is obvious that the Fed will only increase its
this year ".
Fed support would allow investors to process all
perhaps disappointment from Washington, where talks about
trade took place from Wednesday between the US delegation,
US Sales Representative Robert Lighthizer and negotiators
led by Chinese Deputy Prime Minister Liu He.
This is a crucial phase in business discussions between the two sides
world economic power, one month after their end
truce.

VALUES
In addition to currency and business issues, the rating is managed
numerous publications of results.
Unlike LVMH the day before that very calmed down with his
Swiss Swatch Group results announced on Thursday and Thursday
slowdown in the last three months of 2018 in 2007
Asia has reduced demand and "very weak" sales in Asia.
France. As a result, the annual results are worse than expected and the title
down 6.03%, red lantern Stoxx 600.
Nokia is losing its share of 5.67% after saying it expects a
first semester, a forecast that ignores the publication and
Quarterly earnings and earnings better than expected.
On the contrary, after publishing, Elis wanted (+ 5.64%)
organic growth higher than expected in the fourth quarter.

Red Lantern SBF 120, Vallourec with 5.5%
information from Bloomberg that some creditors of the group
strive to reduce its exposure to debt because it feared that Vallourec
to fulfill its financial obligations.

IN ASIA
The Fed's announcement supported the trend in Asia despite that
pointers mixed.
The Tokyo Stock Exchange ended 1.06%
Wall Street. Industrial production in Japan has fallen for the second month
in December, but the decline (-0.1%) is less pronounced than expected.

In China, activity in the Chinese manufacturing industry declined
for the second consecutive month in January, the official PMI
49.5 to 49.3.
This did not stop CSI 300 large caps
of mainland China to close 1.05%, while the Hong Kong Stock Exchange
Kong advanced by 1.08%.

WALL STREET
NYSE ended with a sharp center after the promise
so the Fed will support patience before further increases in rates
interest in stepping up steady progress after
Apple's results (+ 6.83%) and Boeing's solid forecasts
(+ 6.25%).
The Dow Jones index reached 1.77% to close the threshold
25,000 points for the first time since December 4 and S & P-500
took 1.55%, preferably from 6 December.
Nasdaq Composite rose 2.2% to peak
a sharp percentage increase in one session since January 4.
Several companies have released at the end of the session, such as Facebook
, Tesla, Microsoft, Qualcomm, and Visa.
Futures contracts for US indices currently signal a
very slightly opens.

RATE
The fidelity of the Fed and the words of Jerome Powell, who he judged
that the risks of high inflation have declined, logically back
Revenues of US Bonds.
Ten-year Treasury trades at 2.67% compared to more than
2.73% prior to the announcement of the central bank. Government bond yields
two-year-old children dropped to less than 2.5%
more than 2.58% prior to the release of the Fed.
In Europe, the yield of the German Bund follows ten years
a decrease of two basis points to 0.167% after a previous touch
decrease from January 4 to 1.161%.
The 10-year French OAT has fallen to 0.568%
lowest since November 2016.

EXCHANGE
The dollar suffers from the impact of the adaptive rhetoric of the Fed and its
president, index of its evolution against the basket of currencies
the reference value has declined to the lowest since 11 January.
The euro has taken the opportunity to reach more than $ 1.15
its advance is slowed by announcing a much larger drop than expected
retail sales in Germany in December (-4.3% in one month versus 0.6%
Expected).
Currency traders will be the first to appear at 10:00 GMT
estimates of euro area GDP growth (GDP)
quarter. Economists interviewed by Reuters rely on a
Growth by 0.2% compared to the previous quarter.
Meanwhile, the pound is traded at more than $ 1.31
despite the persistent uncertainty about Brexit.

OIL
Raw prices are on the rise supported by a
drop in US oil imports from Arabia
Saudi Arabia and prospects for oil supply disruption
Venezuela following Washington's sanctions against the country.
Brent's barrel is traded at about $ 61.90 a barrel of raw materials
The American Light (WTI) estimates about $ 54.30.

METALS
The weakness of the dollar after the Fed's announcement supports gold that
it remains almost eight months. Yellow metal, which is about to sign and
the fourth consecutive month of growth, is paid more than $ 1,320 per ounce per
spot market.

MAIN ECONOMIC INDICATORS ON THE PROGRAM 31 JANUARY:
COUNTRY GMT EVALUATION PERIOD OF THE INDICATOR 'S TIME
EZ 10:00 GDP (first estimate) T4 + 0.2% + 0.2%
- more than one year + 1.2% + 1.6%
EZ 10:00 Unemployment Rate December 7.9% 7.9%
USA 13:30 Unemployed statements here. to 215 000 199 000
26/1
USA 14:45 PMI Chicago Index January 61,5 65,4
USA 15:00 New Home Sales November 560,000 544,000
(Annual)
-% change + 2.9% -8.9%

MARKET SITUATION
(Some data may show a slight shift)


MARKETS
EUROPEAN

Indices Last var. Var. % YTD
points
Eurofirst 300 1411.68 +3.73 + 0.26% + 6.03%

Eurostoxx 50 3157.08 -4.66 -0.15% + 5.19%

CAC 40 4993.92 + 19.16 + 0.39% + 5.56%

Dax 30 11,208.99 +27.33 + 0.24% + 6.16%

FTSE 6984.24 +42.61 + 0.61% + 3.81%
SMI 8988.30 +22.59 + 0.25% + 6.63%
Values ​​to follow in Paris and Paris
in Europe:

Scholarships
ASIAN
Closing indicators var. Var. % YTD
points
Nikkei-225 20773.49 + 216.95 + 1.06% + 3.79%

Topix 1567.49 +16.73 + 1.08% + 4.91%
Hong Kong 27942.47 +299.62 + 1.08% + 8.11%

Taiwan 9932.26 +0.67 + 0.01% -7.27%

Seoul 2204.85 -1.35 -0.06% + 8.03%
Singapore 3190.17 +15.79 + 0.50% + 3.96%

Shanghai 2584.57 +9.00 + 0.35% + 3.64%

Sydney 5864.70 -22.00 -0.37% + 3.87%

Plot in Tokyo:


WALL STREET
Sitting
previous:
Indices Last var. Var. % YTD
points
Dow Jones 25014.86 +434.90 + 1.77% + 7.23%

S & P-500 2681,05 +41,05 + 1,55% + 6,95%

Nasdaq 7183.08 + 154.79 + 2.20% + 8.26%

Nasdaq 100 6807.91 +175.12 + 2.64% + 7.55%


Report on the meeting in Wall
Street:
"Day Forward" - Update to next session
Wall Street

EXCHANGE
Course Veille Var.% YTD
Euro / dl 1.1487 1.1477 + 0.09% + 0.16%

Dlr / Yen 108.59 109.02 -0.39% -1.51%

Euro / 124.74 125.15 -0.33% -1.17%

Dlr / CHF 0.9929 0.9941 -0.12% + 1.17%

Euro / CHF 1.1406 1.1412 -0.05% + 1.35%

Stg / Dlr 1.3120 1.3116 + 0.03% + 2.85%

Index $ 95.3360 95.3400 -0.00% -0.87%


STEED
Course Veille Var.% YTD
Gold Spot 1319.70 1319.51 + 0.01% + 2.88%


RATE

Last Var. Spread / Bund
(PTS)
Future Bund 165.51 +0.33

Bund 10 years 0.17 -0.02

Bund 2 years -0.56 +0.00

OAT 10 years 0.57 -0.03 +40.21

Treasury 10 years 2.66 -0.03

Treasury 2 years 2.49 -0.04


PETROLEUM
(in USD) Cours Précéden Var Var.% YTD
T
Light Oil US 54.32 54.23 +0.09 + 0.17% + 18.58%

Brent 61.93 61.65 + 0.28 + 0.45% + 14.37%


(Edited by Juliette Rouillon)
  
 
 

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