by Diana Mandia
(Reuters) – European scholarships ended slightly on Friday, with the exception of Paris, in a context of caution on American customs duties, although the gains recorded since the beginning of the year maintain them close to their Record levels.
In Paris, the CAC 40 gained 0.18% to 8,178.54 points, helped in particular by luxury after the good results of Hermès. In Frankfurt, the Dax fell 0.57% and in London, the FTSE 100 sold 0.37%.
The Eurostoxx 50 index ended up 0.23%, the FTSEURofirst 300 by 0.22%and the Stoxx 600 of 0.34%.
Over the week, the Stoxx 600 took 1.68% and the CAC 40 2.58%.
The equity markets in Europe opted for caution on Friday during a hesitant session, investors waiting to know more about the implications of “reciprocal” customs rights required Thursday by the American president, who however did not not yet announced a concrete implementation.
“Although the global financial markets can be inclined to be delighted with the postponement of the immediate taxation of reciprocal customs duties, it is not clear for us that the postponement necessarily reflects a lesser probability that they are ultimately imposed”, wrote Barclays analysts in a note.
The European scholarships, however, sign their eighth consecutive week of rise and have outpected their American counterparts since the beginning of the year, supported by the hope of a peace agreement between Russia and Ukraine and US customs duties severe than expected, as well as by the prospect of new decreases in interest rates by the European Central Bank (ECB) and a series of well -received business results.
“It is allowed to think that the main engine of the annual rebound is the growing confidence – justified or not – in the fact that the pricing risk is more a negotiation tool than a real threat,” added Barclays analysts.
VALUES
In Paris, Hermès took 0.8% after the French luxury group reported an increase of 17.6% of its sales in the fourth quarter, overshadowing its competitors in a difficult context for the rest of the sector.
The other two luxury groups of the Parisian star index also increased, Kering winning 1.7% and LVMH 0.8%.
Eutelsat lost 19% after the publication of its financial results and the announcement of several changes within its administration, including the departure of the chairman of the board of directors.
Lagardère, which reported on Thursday of a current operating profit up 14% in 2024, won 9.5%.
The basic resources sector has advanced 0.4%, supported by the increase in metal prices in the hope that the customs duties provided for by US President Donald Trump will not come into force immediately.
In Milan, Telecom Italia was 7.5% while three sources told Reuters that the Italian government had not supported the plans of the CVC private investment fund and the French telecommunications operator Iliad to take hold in the Italian group.
A Wall Street
At the time of the closing in Europe, the New York Stock Exchange is indecisive: the Dow Jones fell by 0.21%and the Standard & Poor’s 500 0.01%, while the Nasdaq Composite grapped 0.07%.
Airbnb climbs by 14% after the short -term rental platform announced an increase in its quarterly turnover, helped by a solid demand for international travel.
The indicators of the day
On the macroeconomic front, investors learned on Friday that the economy of the euro zone had experienced slight growth (+0.1%) in the last quarter of 2024, while the first estimate published at the end of January by Eurostat reported a stagnation.
In the United States, retail sales have dropped more than scheduled in January over a month, freezing temperatures may have discouraged consumers, while US manufacturing production fell unexpectedly due to a sharp drop production of motor vehicles.
Changes
The dollar loses 0.59% in the face of a basket of reference currencies due to the relief observed on American customs duties.
The hope of a peace agreement between Russia and Ukraine helps the euro to recover, the European currency advancing 0.35% to $ 1.05.
RATE
Bond yields in the euro zone changed little Friday after the sharp decline in the day before: that of the German Bund at ten years finished 2.4240%, almost unchanged. The two years advanced 1.6 base points to 2,1060%.
In the United States, the yields of Treasuries are on the other hand decreasing while the decrease stronger than expected from American retail sales should maintain the federal reserve (Fed) on the way to a reduction in interest rates in the current of the year.
The yield of ten -year -old Treasuries fell from 6.8 base points to 4.4568%.
The operators provided for a relaxation of 40 base points in 2025 after the publication of the data, against 33 base points Thursday evening, according to LSEG calculations.
OIL
The Brent fell 0.31% to 74.79 dollars per barrel and light American crude (West Texas Intermediate, WTI) from 0.67% to $ 70.81.
To be followed on February 17:
The American markets will be closed on Monday on the birthday of George Washington’s birthday.
(Some data may accuse a slight offset)
(Written by Diana Mandiá)
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I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
