by Diana Mandia

(Reuters) – The European scholarships ended on Monday on Monday despite the announcements of the weekend of the American president Donald Trump, who intends to impose additional customs duties on steel and aluminum at the risk of triggering a trade war with its main business partners.

In Paris, the CAC 40 gained 0.42% to 8,006.22 points. In Frankfurt, the Dax advanced by 0.67% and in London, the FTSE 100 took 0.77%.

The Eurostoxx 50 index ended up on a gain of 0.71%, the FTSEUROFRST 300 increased by 0.53%and the Stoxx 600 advanced by 0.65%.

The stock markets started the week in the green but without losing sight of Donald Trump, who promised additional customs duties on steel and aluminum on Monday, as well as reciprocal customs duties later in the week, Latest episode on the threats of the Republican leader against his business partners.

Trump projects weighed on Monday on European steel groups, a sector directly affected by American customs duties, but the rest of the equity market was spared, unlike last week, when Donald Trump had announced that he would impose Customs duties up to 25% in Canada and Mexico, before suspending their application for a period of one month.

“This week started as last week – we saw pricing titles, but the reaction was somewhat different from one asset class to another […]I have the impression that after the whirlwind last week, the temptation to shoot first and ask questions then will be smaller, “notes Tony Sycamire, analyst at IG in Sydney.

Commercial friction would make the inflation prospects for the euro area “more uncertain”, however warned the president of the European Central Bank (ECB), Christine Lagarde, during a speech before the European Parliament.

The markets are also positioned for a new week of business results, with big names in luxury such as Kering and Hermès which are publishing their results this week and while a series of leading economic indicators, including inflation American, are expected in the coming days against the backdrop of concerns about the evolution of the rates of the Federal Reserve (Fed).

VALUES

The shares of European steel industry, which represent approximately 15% of American imports, fell back on Monday, with ArcelorMittal, losing 0.5% and Vestalpine 1.6%.

In Paris, GTT fell 4% after announcing the resignation of its managing director and the launch of a process of selecting a successor, the naval engineering group also declaring that the conduct of a strategic journal at the Seast of its subsidiary Elogen could lead to the abolition of a hundred positions.

Carmat, who announced that he had crossed the course of 100 establishments of his artificial heart Aeson, however took 10.7%.

Elsewhere in Europe, BP climbed to the London Stock Exchange (+7.3%) after a stake in the oil -in -law of the Elliott Management Activist Fund which could put pressure for a change in strategy and governance. The oil and gas sector index has increased by XXX% in its wake.

A Wall Street

At the time of the fence in Europe, the Dow Jones earned 0.19%, the Standard & Poor’s 500 0.60%and the Nasdaq Composite 1.14%.

Unlike their European rivals, the actions of American steel groups, faced with a low demand and an influx of cheaper imports, shine on the stock market after Trump’s statements: Nucor, US Steel and Cleveland-Cliffs are growing between 14%and 4%, while Alcoa gained 3.6%.

The indicators of the day

The morale of investors in the euro zone has improved in February to reach its highest level since July, shows a survey published on Monday, with a rebound in trust in Germany caused by the hope that a new government can straighten the ‘Economy after the federal elections of February 27.

Changes

The dollar strengthened on Monday in the face of uncertainty about American customs duties. The greenback earns 0.20% against a basket of reference currencies at the time of closing European markets, while the euro fell 0.17% to 1.0309 dollars.

RATE

The yields of the German bunds fell slightly on Monday, while the request for bonds increased, prudence prevailing due to the projects of the American president.

Bond yields evolve in the opposite direction to the price of bonds.

The yield of the German Bund at ten years fell from almost 2 base points to 2.3610%. The two -year -old lost nearly 3 base points at 2,0280%.

In the United States, the yields of treasury bills retreat while investors assess the comments made during the weekend by Donald Trump, who said that his administration could examine the payments of the Treasury debt in search of evidence of a possible fraud.

The two -year -old Treasuries yield fell from 2.3 base points to 4.2559%.

OIL

Oil prices are increasing on Monday despite fears of a potential world trade war.

Brent took 1.75% at $ 75.97 a barrel and the American light crude (West Texas Intermediate, WTI) 1, 97% at $ 72.40.

Metals

The price of gold crossed the level of $ 2.900 for the first time on Monday for the first time, demand for precious metal, considered as the refuge value par excellence, being stimulated by fears of a trade war.

Cash in cash takes 1.41% at $ 2.900.59

To be followed on February 11:

(Some data may accuse a slight offset)

(Written by Diana Mandiá)

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