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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total SE    FP   FR0000120271

TOTAL SE

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Stocks rise to new peaks, dollar slips

01/21/2021 | 03:19pm EST

(Adds oil, gold settlement prices)

* Nasdaq, S&P 500, Dow industrials scale new highs

* Growth stocks lead rally, reversal of gains this year

* Spanish, Italian bond yields at highest since November

* Oil prices settle little changed, gold steady

NEW YORK, Jan 21 (Reuters) - World stock markets racked up record highs on Thursday and the dollar fell as investors bet major stimulus from new U.S. President Joe Biden and unswerving global central bank support would cushion the coronavirus' damage and bolster growth.

The euro edged up as the European Central Bank's first policy meeting of the year brought no change to its supportive policies.

Asian stocks reached new highs overnight, Wall Street rose to touch new peaks and MSCI's global index of stock performance in 50 countries gained 0.28%.

But European stocks lost steam at the close, weighed down by oil and real estate shares, while the ECB warned a surge in COVID-19 infections posed a risk to the euro zone's recovery.

The pan-European STOXX 600 stock index ended flat after rising as much as 0.8% earlier in the session.

Energy majors BP, Royal Dutch Shell and Total each fell more than 2% as oil prices slipped after data showed a surprise increase in U.S. crude inventories.

The three major indexes on Wall Street trended higher in early trade, though declining shares slightly outnumbered gainers. The S&P 500 posted 21 new 52-week highs and the Nasdaq Composite recorded 188 new highs.

This year's early trend of investors piling into cyclical stocks has reverted to buying of large-cap growth stocks that led last year's rally post-pandemic, said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

"It's a reverse of what's happened year-to-date through Tuesday. Today and yesterday were decidedly a growth market, especially big-cap tech plus," Ghriskey said.

"There's concern about distribution of the vaccine."

The Dow Jones Industrial Average rose 0.17%, the S&P 500 gained 0.22% and the Nasdaq Composite added 0.65%.

Treasury yields were mostly higher and the yield curve steepened after U.S. labor market data showed new claims for jobless benefits, while elevated, declined modestly last week.

The data eased concerns that the U.S. labor market could deteriorate further, said Guy LeBas, chief fixed income strategist at Janney Capital Management in Philadelphia.

"Having a flat or slightly improved data point for the second week of January helps argue that the trend is not toward rising claims," LeBas said.

Italian and Spanish benchmark bond yields rose to their highest since early November, a move analysts attributed largely to the ECB saying it may not use the firepower of its pandemic-geared bond purchases in full.

The ECB kept its deposit rate unchanged at -0.5% and maintained the overall quota for bond purchases at 1.85 trillion euros, as expected.

The dollar index fell 0.303%, with the euro up 0.45% to $1.2158, amid expectations of a Biden stimulus push and after the Bank of Japan left its policies unchanged overnight.

The Japanese yen strengthened 0.03% versus the greenback at 103.52 per dollar.

The benchmark 10-year U.S. Treasury note rose almost 2 basis points to 1.1092%.

In commodity markets, oil prices eased on an unexpected rise in U.S. crude stockpiles, though hopes for an economic revival kept losses in check.

U.S. crude futures settled down 18 cents at $53.13 a barrel, while Brent futures rose 2 cents to settle at $56.10 a barrel.

Industrial metals such as copper, nickel and iron ore all rose, while spot gold slid 0.1% to $1,864.66 per ounce.

U.S. gold futures settled little changed at $1,865.90 per ounce.

Full coverage for Eikon readers of the U.S. presidential transition: https://emea1.apps.cp.thomsonreuters.com/cms/?navid=20856 For multimedia coverage please open https://www.reuters.com/world/us in a separate browser

(Reporting by Herbert Lash; additional reporting by Marc Jones in London; Editing by Dan Grebler)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -4.20% 291.75 Delayed Quote.14.50%
DJ INDUSTRIAL -1.50% 30932.37 Delayed Quote.2.60%
DOW JONES FXCM DOLLAR INDEX 0.68% 11718.74 Delayed Quote.0.37%
EURO / US DOLLAR (EUR/USD) -0.70% 1.2071 Delayed Quote.-0.46%
GOLD -2.12% 1732.526 Delayed Quote.-6.73%
LONDON BRENT OIL -3.79% 64.4 Delayed Quote.29.48%
NASDAQ 100 0.63% 12909.443133 Delayed Quote.-0.47%
NASDAQ COMP. 0.56% 13192.345407 Delayed Quote.2.36%
ROYAL DUTCH SHELL PLC -3.32% 16.904 Real-time Quote.15.67%
S&P 500 -0.48% 3811.15 Delayed Quote.1.95%
STOXX EUROPE 600 -1.64% 404.99 Delayed Quote.1.49%
TOTAL SE -2.74% 38.375 Real-time Quote.8.71%
WTI -2.98% 61.53 Delayed Quote.31.62%
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Financials (USD)
Sales 2020 127 B - -
Net income 2020 -6 881 M - -
Net Debt 2020 39 166 M - -
P/E ratio 2020 -17,5x
Yield 2020 6,67%
Capitalization 122 B 122 B -
EV / Sales 2020 1,27x
EV / Sales 2021 1,03x
Nbr of Employees 107 776
Free-Float 90,3%
Chart TOTAL SE
Duration : Period :
Total SE Technical Analysis Chart | FP | FR0000120271 | MarketScreener
Technical analysis trends TOTAL SE
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 53,13 $
Last Close Price 46,32 $
Spread / Highest target 33,5%
Spread / Average Target 14,7%
Spread / Lowest Target -37,0%
EPS Revisions
Managers and Directors
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Chief Technology Officer
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL SE8.71%121 913
SAUDI ARABIAN OIL COMPANY-1.29%1 841 292
ROYAL DUTCH SHELL PLC15.67%154 808
PETROCHINA COMPANY LIMITED15.83%116 625
GAZPROM2.92%69 324
PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY22.59%65 681