by Claude Chendjou

PARIS (Reuters) – Wall Street is expected to fall back on Thursday in a context of uncertainties on customs duties desired by American president Donald Trump, while European scholarships are hesitant at mid -session as the monetary policy of the European Central Bank (ECB). Futures in New York indices report an opening of Wall Street down 0.97% for the Dow Jones, 1.11% for Standard & Poor’s 500 and 1.33% for the Nasdaq in a context of renewed prudence after the fragile rebound of the day before.

In Paris, the CAC 40 lost 0.35% to 8,145.1 points around 11:45 a.m. GMT after having come close to its record of 8,259.19 points in the first exchanges. In Frankfurt, the Dax advances 0.44%, registering an unprecedented summit at 23,440 points, carried in particular by the automobile. In London, the FTSE is falling by 0.94%.

The pan -European FTSEUROFirst 300 index regresses 0.61% and the Eurostoxx 50 in the euro zone of 0.12%. The Stoxx 600, which also got closer to its historic peak of 565.18 points, now abandons 0.43%, with almost all of its large sectors in the red.

The enthusiasm arising from the prospect of an increase in expenditure in Germany and a reform of the debt brake is now fading, bringing investors back to the uncertainties of the moment, with an index of volatility to Wall Street which climbs more than 8%, to almost 24 points. Its equivalent on the Eurostoxx advances from 4.2% to around 23 points.

“It is very difficult to guess what will come out of Washington. Investors try to be a little cautious and not to be carried too much by the flow of information from minute to minute or day by day,” said Russ Mould, director of investments at AJ Bell.

The American president exempted on Wednesday, for a period of one month, certain car manufacturers of customs duties on imports from Canada and Mexico. But last week, he announced the taxation of 25% surcharge on imports of cars and other European goods, without precisely detailing his projects.

At the same time, the situation in Ukraine remains a concern while an extraordinary European summit devoted to European defense and Kyiv is held in Brussels.

The values ​​to follow at Wall Street

Marvell Technology fell from 15% in a forefoot, investors who have not been impressed by forecasts in the first quarter of the flea manufacturer generally in line with expectations. In its NVIDIA wake fell 1.8%, Broadcom by 3.2%, AMD by 1.5%, Intel of 1.1%and Micron Technology by 1.8%.

Values ​​in Europe

FDJ United, the new name of La Française des Jeux after the acquisition of Kindred in 2024, a fall of 10.33%. The group said it said for the current tax financial year of stable results due to the sharp increase in taxation on games of money and chance in France and the Netherlands.

JCDecaux flies 12.54%, the fourth quarter and the forecast of the current quarter of the urban advertising furniture group being praised.

DHL jumped 10.11% after announcing its intention to remove approximately 8,000 jobs in Germany this year against the backdrop of its annual operating profit.

Lufthansa climbs 8.55%, the annual operating profit of the German air carrier having exceeded expectations thanks in particular to a reduction in fuel costs.

The actions of Volkswagen vehicle manufacturers (+3.27%), BMW (3.26%) and Stellantis (+1.69%) are well oriented with the prospect of a break on American customs duties.

RATE

The yield of the German Bund at ten years takes another 6.1 base points (PB), at 2.845%, after having earned 30 bp on Wednesday, its highest daily increase since May 1997. Investors are preparing for a sharp increase in the debt supply against the backdrop of budgetary expenses.

The term contracts also show that traders have reduced their anticipations as to the monetary relaxation of the ECB, with a deposit rate now seen at 2.12% by December against 1.92% Tuesday evening. The ECB must make its decision at 1:15 pm GMT and a drop of 25 basic points in its rates is expected by a majority of economists, some believing that this could be the last of the softening cycle started in June 2024. The yield of American treasury bills at ten years rises from 3.2 basic points, at 4.2995%.

Changes

The euro is maintained Thursday at a four -month summit against the greenback, at 1.0794 dollars. The single currency has won 4.1% since the start of the week, its highest weekly increase at this stage since March 2009.

The dollar flexes 0.08% against a basket of international currencies.

OIL

Oil prices go back on Thursday after falling to a lower several years, under pressure from customs tariffs between the United States, Canada, Mexico and China and OPEC+ projects to increase production.

Brent took 0.38% at 69.58 dollars per barrel and American light crude (West Texas Intermediate, WTI) from 0.44% to $ 66.61.

Main economic indicator remaining at the March 6 agenda:

Pays GMT indicator previous consensus period

USA 1:30 p.m. Weekly registrations at SEM. at 235,000 242,000

unemployment March 1

(Written by Claude Chendjou, edited by Augustin Turpin)

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