by Claude Chendjou

PARIS (Reuters) – European stock markets were in the green on Thursday mid-session, benefiting from a technical rebound, particularly in the new technologies compartment, after two sessions of decline in equity indices against a backdrop of war concerns commercial while Wall Street is closed for Thanksgiving. American markets will reopen on Friday for a shortened session after closing in the red on Wednesday due to fears that the American Federal Reserve (Fed) will be more cautious on its rate cuts in view of the latest inflation figures in the United States . Around 12:05 GMT, the Parisian CAC 40, which fell on Wednesday to its lowest level since August, rebounded by 0.42% to 7,173.3 points, with a slight lull on the bond market. The yield gap between French and German debt, which rose on Wednesday to its highest since 2012, narrowed on Thursday to around 83 basis points. French Economy Minister Antoine Armand said Thursday that the government, threatened by a motion of censure, was ready to make a move on electricity taxation.

In Frankfurt, the Dax rose by 0.69% and in London, the FTSE rose by 0.07%.

The pan-European FTSEurofirst 300 index gained 0.41%, the EuroStoxx 50 of the euro zone 0.58% and the Stoxx 600 0.33%.

The technology sector in Europe climbs 1.46%, on track to record its best session in two weeks. Bloomberg reported that restrictions imposed by the US administration on chip exports to China may be less severe than expected.

Economic sentiment in the euro zone also improved slightly in November, according to data published Thursday by the European Commission, while growth in business loans accelerated in October in the bloc.

The rebound in Europe, however, remains fragile and the trend could change with the publication at 1:00 p.m. GMT of German inflation figures. Preliminary data in the German states shows that inflation accelerated in November.

VALUES IN EUROPE

Rémy Cointreau takes 4.26%, the general director of the wine and spirits manufacturer having declared that the company had reached the bottom in the United States and that it was time to prepare for the recovery. Semiconductor manufacturers ASM International, BE Semiconductor and ASML gain 2.57% and 4.06% in reaction to Bloomberg information according to which Joe Biden’s administration would waive certain very strict measures on chip sales to China.

Direct Line Insurance soars by 42%, the insurer having rejected a takeover offer of 3.28 billion pounds sterling made by its main competitor Aviva (-3.16%), estimating that the operation “undervalues considerably” society.

Uniper jumped 5.93% thanks to an increase in its outlook for the whole year.

Grifols fell again, by 4.47%, after its decline on Wednesday linked to the abandonment of the planned takeover of the Spanish group by the Canadian fund Brookfield.

RATE

The yield on the ten-year German Bund is stable, at 2.158%, and that of its French equivalent of the same maturity is down 2.8 basis points, at 2.991%, a sign of a lull on the political front. . “We don’t think (Marine) Le Pen will follow through on her threats to overthrow the government in the short term, but it reminds markets of the precarious situation the country finds itself in,” said Michiel Tukker, European rates strategist at ING .

EXCHANGES The dollar rose on Thursday, in limited trading due to Thanksgiving, after hitting a two-week low on Wednesday against a basket of benchmark currencies.

The index measuring the fluctuations of the greenback rose 0.15%, to 106.27 points.

The euro fell by 0.16%, to $1.0547, and the pound sterling fell by 0.11%, to $1.2664.

OIL

The oil market is rising as OPEC+, the Organization of the Petroleum Exporting Countries and their allies, postponed its next meeting from December 1 to December 5, with a summit in Kuwait of the Gulf countries scheduled for December 1.

Brent rose 0.78% to $73.4 per barrel and American light crude (West Texas Intermediate, WTI) advanced 0.68% to $69.19.

(Written by Claude Chendjou, edited by Sophie Louet)

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