by Claude Chendjou

PARIS (Reuters) – European stock markets ended in mixed order on Monday in a hesitant session marked by small variations, while Wall Street was on a slightly positive note at the end of the morning in New York, driven in particular by technology stocks.

In Paris, the CAC 40 ended down 0.29% at 8,065.15 points. The British Footsie, supported by the European basic resources compartment (+1.37%), advanced 0.09%. The German Dax fell by 0.16%. In Spain, the IBEX index dropped 0.48%, despite the announcement of the President of the Government, Pedro Sanchez, to remain in his post.

The EuroStoxx 50 index lost 0.45%. The FTSEurofirst 300, on the other hand, gained 0.03%. The Stoxx 600, which hit a two-week high during the session, ended with a gain of 0.11%.

At the time of closing in Europe, the Dow Jones advanced by 0.16%, the Standard & Poor’s 500 by 0.19% and the Nasdaq by 0.22%, the indices being driven in particular by the technology compartment.

Apple rose 3.07% after information according to which the group could use artificial intelligence technology from OpenAI, the creator of ChatGPT, on the iPhone. Bernstein also moved to “outperform” on the stock.

Tesla soars 16.36%, the American automobile group having overcome regulatory obstacles which prevented it from deploying its FSD autonomous driving software in China.

The shortened week with the May 1st holiday on most markets and the wait for economic indicators in the United States and Europe, as well as the decisions on Wednesday by the American Federal Reserve (Fed), gave rise to trade little fed.

Inflation figures in Germany, showing a slight acceleration in April to 2.4% year-on-year, did not cause tensions in bond yields, while data for the entire euro zone will be known Tuesday.

In a note, Amundi Investment Institute believes that the worst for the zone is over, noting a slow recovery in perspective, a process of disinflation and imminent rate cuts, all factors which could support equity markets in Europe.

VALUES IN EUROPE

Atos climbed 19.18% after saying it welcomed “with satisfaction” the interest of the French State in its strategic activities.

Philips soared 29.35% after a $1.1 billion settlement in the United States in the respirator case.

Deutsche Bank fell 8.64%, the group announcing on Sunday that it had been forced to make provisions which could weigh on its profitability in the context of a dispute over the takeover of Postbank.

Anglo American gained 4.04% as the group probes BHP shareholders about a more generous takeover offer, according to sources familiar with the matter.

RATE

The ten-year German Bund rate fell 4.8 basis points at the close on Monday, to 2.534%, compared to a peak since the end of November at 2.647%, reached on Thursday.

The market is still expecting a rate cut from the European Central Bank (ECB) in June with cuts of 70 basis points by the end of the year.

The yield on ten-year US Treasury bonds fell 3.5 points to 4.6321%, still supported by a PCE inflation index generally in line with expectations.

CHANGES

The dollar fell by 0.23% against a basket of reference currencies, including the euro which advanced by 0.23%, to 1.0717 dollars, and the pound sterling which traded at 1.2548 dollars (+ 0.47%).

The Japanese currency is trading at 156.73 yen per dollar against the dollar after falling to 160.24, its lowest level since 1990. Operators are talking about intervention by the Japanese authorities.

OIL

The peace talks in Cairo between Israel and Hamas are causing oil prices to fall: Brent falls by 0.97% to 88.63 dollars per barrel and American light crude (West Texas Intermediate, WTI) by 0.94% to 88.63 dollars per barrel. $83.06.

(Written by Claude Chendjou, edited by Sophie Louet)

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