by Claude Chendjou

PARIS (Reuters) – An important rebound in the main European scholarships, in the wake of Wall Street and Asian places, is expected Thursday after the flip -flop of the American president, Donald Trump, on so -called “reciprocal” customs duties.

According to the first indications available, the Parisian CAC 40 should gain 7.63% at the opening. The Dax in Frankfurt could advance by 7.73%, while the FTSE 100 in London should take 5.26%. The Eurostoxx 50 index is expected to increase by 7.89% and the Stoxx 600 up 7.56%.

Donald Trump said on Wednesday evening that he suspended for 90 days the so -called “reciprocal” customs duties against dozens of countries, while noting the surcharges aimed at China, an unexpected reversal which gave rise to a net rebound on the American stock market and a reflux of more than 35% at around 33 points on the VIX index, considered the barometer of fear.

“He (Donald Trump) offers companies a temporary stay to expire, recalibrate and resume their strategic planning with more time but the prospects are still vague,” comments Michael Ashley Schulman, director of investments at Running Point Capital.

Investors should be all the more relieved that the fear of a trade war was beginning to profile a monetary and bond risk. Before Donald Trump’s flip-flop, the Chinese yuan had dropped, the yen had firmed, while the dollar depreciated despite his status of refuge. At the same time, the yields of long -term sovereign bonds had gone, investors relieving themselves in particular from American debt while traditionally risk aversion results in a rush on these assets deemed safe.

The expected rebound in shares may however not last because Beijing responded to American surcharge by in turn imposing customs duties of 84% on American products from this Thursday.

The publication at 12:30 pm GMT of consumer prices figures in the United States for March could also awaken concerns about inflation.

A Wall Street

The New York Stock Exchange ended up sharply on Wednesday after the break decided by Donald Trump on customs duties.

The Dow Jones index won 7.87%, or 2,962.86 points, at 40,608.45 points.

The wider S&P-500 took 474.13 points, or 9.52%, at 5,456.90 points.

The Nasdaq Composite advanced 1,857.06 points (12.16%) at 17,124.97 points.

This is for the S&P-500 of a percentage of increases on an unprecedented session since 2008, while the Nasdaq had not experienced such progression since January 2021.

In Asia

On the Tokyo Stock Exchange, the Nikkei index rebounded from 9.13% to 34.609.00 points, and the wider Topix climbed 8.09% to 2,539.40 points.

The Nikkei recorded strong volatility this week, closing up 6% on Tuesday after a fall of 7.8% on Monday, its lowest level in a year and a half. The index ended 4% on Wednesday.

Fast Retailing, owner of the Uniqlo brand, took 8.42%, while flea -related values ​​like Tokyo Electron (+12.72%) and Advantest (+13.53%) were also in great demand.

In China, the SSE Composite of Shanghai granted 1.30% and the CSI 300 increased by 1.45%.

“Some optimistic investors still believe that in the end, the two parties (United States and China) will end up (…) by concluding an agreement,” write UBS analysts in a note.

The Hang Seng index in Hong Kong jumped 3.11%, supported by technological values.

On the indicator side, consumer prices in China dropped for the second consecutive month in March, 0.1% over one year, after a decline of 0.7% in February.

Changes

The dollar loses 0.23% against a basket of reference currencies. Against the Yen and the Swiss franc, he abandoned 0.64% and 0.50% respectively.

The euro advances by 0.25%, to 1.0978 dollars, while the pound sterling exchanges $ 1.2864 (+0.41%).

The Yuan Offshore appears at 7,3506 for an American dollar after falling at a historic hollow at 7.4288 earlier this week.

RATE

The yield of American treasury bills at ten years fell from 9.7 base points to 4.2985%, after taking the day before 13 points, at 4.5150%.

The yield of the German Bund in the same deadline takes 11.5 basic points, at 2.694%, while the monetary markets now provide that the deposit rate of the European Central Bank (ECB) will reflect to 1.83% in December against 1.65% on Wednesday

OIL

The oil market is withdrawn Thursday, Donald Trump having intensified his trade war against China: the Brent refused from 0.58% to 65.10 dollars per barrel and the light American crude (West Texas Intermediate, WTI) declines 0.50% to 62.03 dollars.

(Written by Claude Chendjou, edited by Augustin Turpin)

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