by Claude Chendjou
Paris (Reuters) – The main European scholarships, apart from London, finished down on Wednesday and Wall Street was also in mid -session red, in a context of great uncertainty linked to American customs duties.
In Paris, the CAC 40 ended with a loss of 0.96% to 8,030.68 points. The German Dax reflected 1.14%. The British footsia, rich in hydrocarbon values, advanced by 0.31%.
The Eurostoxx 50 index lost 1.19%, the FTSEUROFIRST 300 abandoned 0.73%and the Stoxx 600 reflected by 0.72%.
At the time of the fence in Europe, the Dow Jones is falling by 0.05%, the Standard & Poor’s 500 of 0.77%and the Nasdaq by 1.54%.
The technological values ​​index is the victim of profit taking after two great sessions, Nvidia falling by 5.54% and Tesla by 4.94%.
Investors digest the latest economic data, including a report by the American trade department, which shows that orders for sustainable American manufactured products increased unexpectedly in February, companies seeking to protect themselves before the entry into force of new customs duties.
In Great Britain, during a discourse on the budget before the Parliament, the Minister of Finance, Rachel Reeves, citing the latest projections of the Office for Budget Responsibility (OBR), said that the British economy should grow by only 1% this year, against a rate of 2% initially awaited due to threats related to customs duties.
The uncertainty resulted in a rise in volatility, the VIX index taking more than 2% above the 17 points, while its equivalent on the Eurostoxx 50 ended up almost 4%, to more than 18 points.
“Everyone is trying to understand what will be done on customs tariffs,” said Steve Englander, strategist at Standard Chartred Bank.
“All want to avoid market pressure before the announcement (April 2). But I think there is also a risk that when the time comes, the announced customs duties are more restrictive than what is integrated by the market,” he added.
Values ​​in Europe
Porsche ended up under 0.85% after reporting a loss after taxes of 20 billion euros, linked to depreciations on its participation in Volkswagen (-1.56%).
Prosiebensat.1 advanced by 1.32%, sources having reported to Reuters that Mfe-Mediaforceurope, the Italian television group controlled by the Berlusconi family, summoned a board of directors on Wednesday to examine a possible offer on its German competitor.
CD Projekt plunged 7.97%, the Polish video game publisher having announced that his flagship game “Witcher IV” would not be released before 2026.
The indicators of the day
British inflation slowed down more than scheduled in February, 2.8% over a year, according to ONS data.
Household confidence in France fell slightly in March, 92 after 93 points in February, according to an INSEE survey.
Changes
The dollar takes 0.15% in the face of a basket of reference currencies, some traders betting that the customs duties wanted by Donald Trump will be lower than expected.
The euro fell 0.04%, to 1.0788 dollars, after having touched a hollow in session since March 6, at 1.0767 dollars.
The Sterling book is exchanged at 1.2893 dollars (-0.39%), after falling at its lowest level in two weeks due to lower than expected inflation. British currency is also penalized by Rachel Reeves’ speech.
RATE
The yield of American treasury bills at ten years rises by 3.2 basic points, after a decline of approximately three points on Tuesday, investors being shared, according to Bofa Securities analysts, between concerns about economic growth against the backdrop of customs duties and the risks of inflation remaining.
The yield of the German Bund of the same deadline has finished almost unchanged, at 2.791%, after having hit a one -week summit on Tuesday, at 2.831%.
The British Gilt yield at 30 has lost up to seven base points, at 5.298%, after forecasts for bond emission below expectations for 2025/2026, which appeases fears of the market as to a new wave of debt emission.
OIL
The oil market is supported by official data showing a decrease in crude and fuel stocks in the United States last week and by increasing concerns about a more limited global offer.
Brent increased from 1.12% to $ 73.84 per barrel and light American crude (West Texas Intermediate, WTI) from 1.19% to 69.82 dollars.
(Written by Claude Chendjou, edited by Kate Entringer)
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