by CORENTIN CHAPPRON

PARIS (Reuters) – European stock markets closed in mixed order on Monday at the end of a volatile session where the indices moved according to geopolitical concerns after an armed rebellion on Saturday in Russia and in a context of persistent questions about the economic situation. . In Paris, the CAC 40 rose 0.29% to 7,184.4 points. The German Dax lost 0.11%, as did the British Footsie.

The EuroStoxx 50 index ended the session down 0.18%, while the FTSEurofirst 300 lost 0.09% and the Stoxx 600 0.10%. The volatility gauge, which measures the nervousness of US markets, rose to a one-week high on Monday, at 14.13 points, while its European equivalent was at its highest in two weeks, at 15.75 points.

The Wagner mercenary group rebelled against Russian power on Saturday before ending its mutiny just as abruptly, raising questions about the stability of power in the Kremlin in the midst of a Ukrainian counter-offensive.

Geopolitical uncertainty, however, had a limited impact on the markets, with investors remaining focused on the economic outlook in Europe and the United States, as the annual forum of the European Central Bank (ECB) opened on Monday. This year’s theme is “macroeconomic stabilization in a context of volatile inflation”.

In addition, the publication of numerous economic indicators later this week prompted caution: the US household confidence index and the inflation indicator favored by the Federal Reserve are due on Friday, as are the “flash” figures. of inflation in the euro zone. “This week, the markets could be under pressure as underlying inflation is expected to remain high in the United States and rebound in the euro zone while the main central bankers are expected to reaffirm, during the conference organized by the ECB in Sintra, that the rate hikes are not quite over”, summarize the strategists of LBPAM.

VALUES IN EUROPE SES Imagotag posted the best performance of the SBF120, up 15.80% after rejecting the allegations made against it by Gotham City Research, which blames it in particular for having inflated its revenues.

Orpea rose 8.07% after an auditor’s report estimated the group’s enterprise value according to the going concern approach at between 6 and 7 billion euros.

Luxury carmaker Aston Martin gained 10.8%, after announcing that US electric vehicle maker Lucid Group would make its engine and electric vehicle technology available to it in exchange for a stake in the British group’s capital . The possible sale of Swedish promoter SBB’s education business lifted the group’s stock up 5.2% to top the Stoxx 600. Casino lost 4.9% after announcing on Monday that it needed 900 million euros in equity to be able to reach an agreement in principle on the restructuring of its debt by the end of July. A WALL STREET As in Europe, US markets ignored geopolitical concerns and moved cautiously before the publication of many indicators on the health of the US economy. At closing time in Europe, the Dow Jones was stable while the Standard & Poor’s 500 fell 0.06%. The Nasdaq Composite lost 0.14%.

RATES Yields in Europe continued their decline that began at the end of last week, with the lower-than-expected confidence index in Germany adding to fears about growth in the euro zone. The yield on ten-year German government bonds fell by six basis points, to 2.3000%, and that of the 2-year Bund by three basis points, to 3.1380%. In the United States, the yield on ten-year Treasuries fell by three basis points to 3.7076% and that of 2-year bonds was unchanged at 4.7440%. FOREIGN EXCHANGE Expectations of key rate movements in the short term continue to drive the dynamics of the dollar, which lost 0.20% against a basket of benchmark currencies. Conversely, the euro advanced by 0.23% against the American currency, to 1.0913 dollars, while the pound sterling rose to 1.2723 dollars (+0.09%). Concerns about the Chinese economy weighed on the yuan, falling 0.83% on the session to its lowest in seven months, at 7.2376 yuan per dollar.

OIL Oil prices post moderate gains at closing time in Europe, supported by statements from Saudi Aramco, the world’s largest oil company, which said demand would be “solid” in the second part of the month. year. Brent gained 0.16% to $73.97 a barrel and US light crude (West Texas Intermediate, WTI) held steady at $69.14. TO FOLLOW TUESDAY: NO MAJOR ECONOMIC INDICATORS ON TUESDAY’S AGENDA

(Report Corentin Chapron, edited by Blandine Hénault)

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