(BFM Stock Exchange) – The Parisian star index completes this last session of the week in the red, still feverish with trade tensions between the United States and China, and a morale of the American consumer at half mast. In weekly rhythm, the CAC 40 gives in 2.34%.

The Paris Stock Exchange trend was erratic for this last session of the week. The CAC 40 fence in withdrawal from 0.3% to 7.104.80 points not without having carried out some incursions in the green across the whole session of Friday, April 11.

The Parisian star index yields 2.34% over a week marked by the latest developments on customs duties. And the tensions between Beijing and Washington are far from calming.

This Friday, Beijing brought the customs surcharge to 125% on American products against 84% previously. Washington had raised the overall taxation rate for Chinese import rate on Thursday.

The other countries will negotiate. The European Commission announced that the European Union would meet on Monday with the Trump administration in this perspective.

“The main engine of the revival of the market pressure was increased attention paid to climbing between the United States and China (…) The reaction of the market has shown increased sensitivity to the risks of disorderly economic decoupling between the two largest economies in the world, which we highlighted yesterday,” said Deutsche Bank.

A low morale, expectations of inflation to the highest

Unsurprisingly, the risks associated with customs duties undermine the confidence of American households. This is evidenced by the preliminary results of the latest survey of the University of Michigan on consumer morale for the month of April. The confidence index fell more than expected, 50.8 this month, against a consensus of 54.5 and after 57 in March.

Inflation anticipations to one year, increased at unprecedented levels since 1981 to 6.7%, compared to 5% in March due to climbing trade tensions.

“The bond market does not appreciate at all (these figures) and the yields of the bonds of the Treasury are soaring. It is also likely that this limits the capacity of the federal reserve to reduce interest rates in the near future, despite the disturbing prospects concerning the consumption expenditure that the data published today highlights,” notes James Knightley chief economist at ING.

A little earlier in the afternoon, investors also learned about appeasement in production prices in the United States in March, with the withdrawal of oil prices. The PPI index contracted 0.4% in March. Over one year, the prices on the producer side increased by 2.7%, marking a slowdown compared to the increase of 3.2% observed in February. On Thursday, the CPI index also translated a slowdown in consumer prices, thanks to a lull in black gold prices.

At Wall Street, the banks kicked up the quarterly results. They have published mixed results, especially for Wells Fargo which also expects a “more unstable economic environment” this year.

Stellantis hard, Rubis shines

Red lantern of CAC 40, Stellantis fence in with 3.9%. The automaker is very exposed to uncertainty about customs duties. The group has also published volumes in very sharp and disappointing over the first three months of the year.

On the side of the increases, Rubis increased by 7% after the Molis family declared having strengthened in the capital of Rubis.

In the other markets, the euro takes 1.2% against the dollar, at 1.1335 dollars. The motto of the euro zone torches them against the greenback.

“If the euro has probably progressed for good reasons (repatriation of capital in the United States, stronger growth and optimism regarding German recovery measures), it has a negative impact on action revisions by action and therefore threatens the relative performance of Europe compared to the United States,” warns Barclays.

Oil is trying to bounce back after suffering these last sessions a lot. The June contract on the Brent de Mer du Nord gains 0.6% at 63.71 Dollars per barrel while the May on the WTI listed in New York takes 0.7% to 60.47 Dollars per barrel.

Gold benefits from this climate of risk aversion and gain another 5% to 3.239.30 dollars per ounce after reaching a new record at 3,244.10 dollars perce.