by Pauline Foret
(Reuters) – The main European stock markets closed lower on Monday at the end of a session marked by a certain wait-and-see attitude among investors ahead of a busy week in corporate results.
In Paris, the CAC 40 lost 1.01% to 7,536.23 points. In London, the FTSE 100 fell by 0.48% and in Frankfurt, the Dax by 1.02%.
The EuroStoxx 50 index fell by 0.93%, the FTSEurofirst 300 by 0.64% and the Stoxx 600 by 0.66%.
German giant SAP, which represents 15% of the German Dax index, is due to publish its results this evening, figures which could decide the trajectory of the entire European technology sector in the days to come.
Other major results are expected this week, such as Deutsche Bank, Lloyds and Barclays. In France, Vivendi and L’Oréal will be at the center of attention on Tuesday.
VALUES
In Paris, Forvia gained 6.43% after concluding agreements with the Chinese groups BYD and Xiaomi. The automotive supplier also showed confidence in its performance in China next year when it published its quarterly turnover.
Sandvik lost 2.07% after missing analysts’ expectations in the third quarter.
A WALL STREET
At closing time in Europe, the Dow Jones lost 0.64%, the Standard & Poor’s-500 0.36% and the Nasdaq 0.12%.
In values, Boeing gained 2.82% after proposing a new salary plan which could end five weeks of strike.
Cigna lost 4.46% after relaunching discussions regarding a potential merger with its rival, Humana.
CHANGES
The dollar is strengthening, driven by the rise in American bond yields and speculation around the presidential election in the United States.
The greenback gained 0.42% against a basket of reference currencies.
The euro lost 0.41% to 1.0820 dollars.
RATE
U.S. bond yields are rising amid optimism about the strength of the U.S. economy, taking away the likelihood of an aggressive cycle of interest rate cuts by the Federal Reserve.
The ten-year Treasuries rate climbs 9.7 basis points to 4.1718% and that of two-year loans rises 6.8 basis points to 4.0232%.
In Europe, the ten-year German Bund yield rose 0.3 basis points to 2.2820%.
OIL
Oil prices are up on Monday, partly making up for the heavy losses suffered last week.
Brent gained 1.48% to $74.14 per barrel and American light crude (West Texas Intermediate, WTI) gained 1.83% to $70.49.
(Written by Pauline Foret, edited by Blandine Hénault)
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