by Diana Mandia

(Reuters) – European stock markets ended mixed on Monday, with investors hesitant in an uncertain context after the election of Donald Trump and as the president of the European Central Bank (ECB) was due to speak later in the day .

In Paris, the CAC 40 gained 0.12% to 7,278.23 points. In Frankfurt, the Dax fell 0.11% and in London, the FTSE 100 gained 0.57%.

The EuroStoxx 50 index ended down 0.09%, the FTSEurofirst 300 gained 0.06% and the Stoxx 600 fell 0.06%.

Fears linked to the trade policy of the future American president, particularly concerning the impact that possible customs duties could have on the prospects for growth and inflation in the euro zone, have once again set the tone for the markets during a volatile session and without a major catalyst.

Several senior officials at the European Central Bank (ECB) expressed concern on Monday about the consequences of the protectionism promised by the former US president during his election campaign, although they said they were more concerned about its impact on economic growth than on the price trajectory.

The European Commission has just revised its gross domestic product (GDP) forecasts slightly downward for 2025, citing risks linked to geopolitics and the increase in protectionist measures.

In this context, investors will closely monitor the speech by ECB President Christine Lagarde at the Collège des Bernardins, scheduled for Monday at 6:30 p.m. GMT.

Caution is also required before the publication of the results of the giant Nvidia on Wednesday, likely to weigh on large technological capitalizations on both sides of the Atlantic, as well as the preliminary PMI indices of the euro zone for the month of November , expected Friday.

VALUES

The real estate sector, sensitive to changes in interest rates, lost 1.56% on Monday.

European technology stocks, for their part, fell 0.38% while awaiting Nvidia’s quarterly results next Wednesday.

In Paris, Vivendi lost 1.6% after announcing Monday morning that it expected stable revenues in 2024 for Havas and Canal +.

British company Melrose Industries rose 7.5% as the owner of aerospace parts maker GKN Aerospace reported a 7% rise in turnover for the four months ending October 31.

A WALL STREET

At closing time in Europe, the Dow Jones fell 0.03%, while the Standard & Poor’s 500 gained 0.42% and the Nasdaq Composite 0.67%.

Tesla also continues its rally after Donald Trump’s victory and advances by more than 6%.

CHANGES

On the foreign exchange market, the American dollar is falling, while remaining close to its highest level in a year, operators digesting fears linked to Donald Trump’s policies considered inflationary.

The dollar lost 0.32% against a basket of reference currencies.

The euro for its part gained 0.42% to 1.0585 dollars.

RATE

Euro zone bond yields ended higher on Monday, tracking those of the U.S. Treasury, and as the market awaits economic data that could adjust rate expectations later in the week.

The ten-year German Bund yield rose 2 basis points to 2.3700%. The two-year-old gained 4.6 basis points to 2.1660%.

In the United States, yields on long-term Treasury bills rose on Monday, with traders still digesting the impact of the Trump administration’s likely protectionist policies on the inflation outlook and the resulting rate cuts.

The yield on ten-year Treasuries thus shows a gain of 1.3 basis points to 4.4394%.

OIL

Brent rose 2.77% to $73.01 per barrel and American light crude (West Texas Intermediate, WTI) rose 2.72% to $68.84, supported by the announcement of the cessation of production. of the Johan Sverdrup oil field, located in the North Sea, Norway. Added to this is the intensification of the conflict between Moscow and Kyiv, which has just been authorized by the United States to use long-range missiles against Russia.

(Some data may have a slight lag)

(Written by Diana Mandiá)

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