European stock exchanges should hesitate before the meeting of EU energy ministers. The Eurostoxx 50 opens at 3,512.38 points (+0.29%), the CAC 40 at 6,1255.90 points (+0.33%), the DAX 40 at 12,904.32 points (-0.09%), the FTSE 100 at 7,262.06 points (+0.33%), the SMI at 10,790.32 points (-0.14%), the AEX at 674.40 points (+0.33%) (47%), the BEL 20 at 3,623.21 points (+1.29%), the IBEX 35 at 7,916.80 points (+0.78%), the DJIA at 31,774.52 points (+0.61%), the Nasdaq at 11,862.13 points (+0.60%), the S&P 500 at 4,006.18 points (+0.66%) and the Nikkei 225 at 28.230.54 points (+0.59%).

On the exchange rate side, the change compared to the close in New York indicates that EUR/USD opened at 1.0079 (+0.80%), EUR/JPY at 143.81 (-0.20%), and USD/JPY at 142.70 (-0.99%).

Investors will follow industrial production figures in France in July this Friday. On the corporate side, they will react to the quarterly review of the Euronext indexes, which will allow the home automation manufacturer Somfy and the private equity firm Antin Infrastructure Partners to join the SBF 120 as of September 19. The furniture chain Maisons du Monde will be removed from this same index on that date. For its part, the composition of the CAC 40 index remains unchanged. Airbus announced on Thursday evening that it had delivered 39 aircraft to 22 customers and that it had not received any new aircraft orders in August 2022. The petroleum products distribution and storage group Rubis said it was confident “in its ability to generate good growth in its results” in 2022, while its adjusted net income increased by 17% in the first half of the year, to 169 million euros.

European stock exchanges are expected to open on a hesitant note on Friday, while investors continue to absorb the remarks made by the presidents of the European Central Bank (ECB) and the US Federal Reserve (Fed) on Thursday and are preparing for a highly anticipated meeting of European Union energy ministers Pennine. Wall Street also rose for the second straight session on Thursday, despite the new firm message from Fed Chairman Jerome Powell on inflation and rates. The Dow Jones (DJIA) and Nasdaq indexes rose by 0.6%, while the expanded S&P 500 index advanced by 0.7%.

In China, inflation unexpectedly slowed in August, signaling a weakening of domestic demand due to anti-Covid-19 measures implemented by the authorities in several cities. The consumer price index rose by 2.5% year-on-year in August, compared with a rise of 2.7% in July, the National Bureau of Statistics said. In response, the Shanghai Composite Index gained 0.7% on Friday. The Hang Seng Index rose 2.4% in Hong Kong, also driven by the renewed appetite for risk observed on international markets. The Nikkei index rose 0.6% at the end of trading in Tokyo.

Bond yields in the eurozone and the United States rose on Thursday after the decision of the European Central Bank (ECB) to raise rates and the restrictive remarks of the Federal Reserve Chairman. While investors are now waiting for the release of the U.S. consumer price index in August, due next week, the probability of the Fed raising rates by 75 basis points at the end of its September 20 and 21 meeting is 84% on Friday morning, according to CME Group's FedWatch tool.

The euro rebounded against the dollar on Friday as investors continue to assess the implications of the ECB's announcements on Thursday. The ECB indicated that it expected further increases in its key rates and that its future rate decisions would depend on data, “which is considered accommodative speech in the United States, but in Europe, these comments increase uncertainty because inflation is much higher there due to the weakness of the euro”, explains Louis Navellier in a note. According to him, “a currency war could be brewing because the weakness of the euro is an important driver of inflation” in the eurozone.

Oil prices gained ground Friday morning, continuing their rise on Thursday. Oil is supported by an upward revision of the International Energy Agency's (IEA) global demand forecasts for the next two quarters as electricity producers, especially in Europe, could replace natural gas with oil to generate electricity, OCBC reports. At 7:25 a.m., the November North Sea Brent contract earned 64 cents, at $89.79 per barrel, while the October deal on light sweet crude (WTI) listed in New York took 42 cents, at $83.96 per barrel.