At the opening, the European stock exchanges are expected to give way even more. The Eurostoxx 50 opens at 3,340.35 points (-0.49%), the CAC 40 at 5,833.20 points (-0.13%), the DAX 40 at 12,220.25 points (-0.43%), the FTSE 100 at 6,885.23 points (-1.06%), the SMI at 10,207.83 points (-0,53%), the AEX at 636.31 points (-0.76%), the BEL 20 at 3,345.31 points (-0.54%), the IBEX 35 at 7,355.90 points (-0.78%), the DJIA at 29,239.19 points (+0.12%), the Nasdaq at 10,426.19 points (-1.10%), the S&P 500 at 3,588.84 points (-0.65%) and the Nikkei 225 at 26,380.0% 1.46 points (-0.07%).

With regard to exchange rates, the change since the close mentions that in New York, EUR/USD is at 0.9720 (+0.13%), EUR/JPY at 142.11 (+0.37%) and USD/JPY at 146.21 (+0.24%).

This Wednesday, Eutelsat presents its annual results and its new strategic plan.

The world leader in luxury LVMH was confident on Tuesday evening that it would continue double-digit sales growth even though the global economy was slowing sharply and inflationary pressures were slowing sharply. In a statement, LVMH stressed that “Despite an uncertain geopolitical and economic context, the group is confident in continuing current growth and will maintain a policy of cost control and investment selectivity.”

The turnover of the group with 75 luxury brands reached 19.75 billion euros during the quarter ended September. It is thus up by 27% in published data and by 19% at constant exchange rates and scope.

Furthermore, in an attempt to end the blockade of its refineries and oil depots, TotalEnergies invited non-striking unions to a “consultation and exchange meeting” on Wednesday afternoon.

Amid concerns about the pace of monetary policy tightening by the US Federal Reserve (Fed) and the turmoil in the British bond market, European equity markets are expected to open lower again today.

The FTSE 100 contract lost 14 points, or 0.2%, and the DAX 40 contract lost 22 points, or 0.2% as well. According to data from the IG Markets broker, the CAC 40 futures contract fell by 11 points, or 0.2% at 7:40 a.m.

Yesterday, against a backdrop of rising interest rates, Wall Street ended in a mixed order, held back by a further downturn in technology stocks and fears of a recession. For its part, the Nasdaq Composite fell by 1.1%, ending at its lowest level since July 2020.

The Nikkei Index was balanced at the end of the trading session in Tokyo, the Shanghai Composite Index dropped 1.4% and the Hang Seng Index on the Hong Kong Stock Exchange dropped 2.3%. In a general context of risk aversion, the main markets moved in the red this Wednesday in Asia.

Yields on 30-year bonds hadn't been high since 2014, but two- and ten-year U.S. Treasury yields hit their highest level in two weeks on Tuesday. The market has integrated the perspective of a continuation of the monetary crunch. In order to decide on the next initiatives, traders are waiting for inflation figures in the United States. This Wednesday, U.S. producer prices for September will be published and consumer prices will be published tomorrow.

The dollar moves in a mixed order against the other major currencies. The yen is trading at 24-year lows against the greenback, below the levels reached before the Japanese government intervened on the foreign exchange market on September 22 if the euro gains some ground. This morning, the dollar is trading at 146.26 yen.

Oil futures have declined. CMC Markets indicates that the market still fears a global recession due to bond losses and the strength of the dollar. Indeed, adds CMC, the light sweet crude (WTI) futures contract listed on Nymex is approaching its 50-day moving average after two sessions of pullback. According to CMC Markets, if it falls below this level, a continuation of the decline is possible.

For its part, Commerzbank believes, however, that OPEP+'s decision to reduce its production quotas underlines the tensions that exist on the physical market and should limit the fall in crude oil prices. It should be recalled that OPEC+ is a group bringing together the Organization of Petroleum Exporting Countries (OPEC) and ten allied countries led by Russia. The November contract for light sweet crude (WTI) traded on Nymex fell 61 cents to $88.74 per barrel while the December contract on North Sea Brent lost 50 cents to $93.79 per barrel.