OF Morning Bulletin

European equity markets expected slightly lower after a lackluster session in Asia. The Eurostoxx 50 opens at 4,181.12 points with an increase of 0.07%, the CAC 40 at 6,676.48 points (+0.18%), the DAX 30 at 15,860.66 points (-0.28 %), the FTSE 100 at 7,150.12 points (+0.34%), the SMI at 12,364.57 points (-0.58%), the AEX at 781.93 points (-0.16%), the BEL 20 at 4,323.96 points (-0.10%), the IBEX 35 at 8,977.40 points (+0.32%), the DJIA at 35,405.55 points (+0.11%), the Nasdaq at 15,041.86 points (+0.15%), the S&P 500 at 4,496.19 points (+0.22%) and the Nikkei 225 at 27,727.60 points with an increase of 0.01%.

Regarding the exchange rate, the variation compared to the close in New York indicates that the EUR/USD appears at 1.1768 down 0.03%, the EUR/JPY at 129.40 (-0.06%) and USD/JPY at 109.97 down 0.03%.

Universal Music Group (UMG), the record label of media and entertainment group Vivendi, said on Wednesday it was aiming for a sharp rise in revenue and earnings this year, in an investor presentation that took place on Wednesday. take place less than a month before its IPO. The construction and concessions group Eiffage for its part confirmed on Wednesday that it expects an increase in its results this year, despite activity still hampered by the health crisis in its motorway subsidiaries.

European equity markets could edge lower on Thursday after a cautious session in Asia as investors worried about the regulatory outlook in China and the high number of new Covid-19 cases. in the world. At 7:40 a.m., the CAC 40 futures contract lost 10.3 points, or 0.2%, according to data from broker IG Markets. The contract on the DAX 30 yielded 47.5 points, or 0.3%, and that on the FTSE 100 gave up 16.8 points, or 0.2%. The New York Stock Exchange continued its upward movement on Wednesday, allowing the S&P 500 and the Nasdaq Composite to surpass their all-time highs from the previous day. Investors remained confident despite the caution seen ahead of Fed Chairman Jerome Powell's speech scheduled for Friday at the Jackson Hole conference. Among the indicators published on Wednesday, durable goods orders in the United States fell by 0.1% over one month in July, while economists had forecast a decline of 0.5%. In Asia, the main stock market indices posted a mixed performance on Thursday. At the end of the session, the Shanghai Composite lost 0.5%, the Hang Seng index lost 1.3% in Hong Kong and the Nikkei index of the Tokyo Stock Exchange was up very slightly.

Yields on US government bonds fell slightly on Thursday morning, after seeing their biggest single-session rise in more than two weeks on Wednesday. The ten-year US government bond rate fell 1.2 basis points to 1.337%. Economic data point to a continued recovery in the US and Washington appears to be closing in on an agreement on a broad fiscal support package, which helped trigger the bond pullback. As the annual Jackson Hole conference approaches, investors are revising their expectations that Jerome Powell will deliver new information on a gradual reduction in Fed asset purchases ahead of the September 21-22 FOMC meeting.

The euro was almost stable on Thursday morning against the dollar but lost some ground against the yen. The greenback is unchanged against the Japanese currency.

Oil prices fell on Thursday morning, erasing their gains recorded on Wednesday. However, they remain up about 10% since the beginning of the week. TD Securities believes that the market could continue to be penalized by the Delta variant of Covid-19 as well as technical resistance levels. Information from the Middle East could also affect oil prices. By 7:20 a.m., the October North Sea Brent contract was down 42 cents to $71.83 a barrel. The October contract on Nymex-listed light sweet crude (WTI) fell 53 cents to $67.83 a barrel.