Paris (Reuters) – The main European scholarships are in green Wednesday in the morning, investors welcoming Donald Trump’s latest reversals to customs duties against China and the change of tone on Jerome Powell, the president of the American Federal Reserve (Fed).

In Paris, the CAC 40 takes 1.58% at 7,440.46 points around 07:15 GMT. In London, the FTSE 100 advances by 1.20% and in Frankfurt, the Dax rises by 2.48%.

The Eurostoxx 50 index increased by 2% and the FTSEUROFIRST 300 of 1.20%. The Stoxx 600 wins 1.43%.

The term contracts at Wall Street foreshadow an increase of 1.28% for the Dow Jones, 1.72% for the Standard & Poor’s 500 and 2.05% for the Nasdaq in the aftermath of a session already in green.

Donald Trump said on Tuesday evening that he did not intend to dismiss the president of the Fed Jerome Powell and was also optimistic about the possibility that a trade agreement with China “considerably” reduces customs duties.

The market reaction was immediate, investors rushing into the dollar after several massive sales sessions of the greenback, while gold, active refuge, which had reached the record of 3,500 dollars per ounce, clearly fell back on Wednesday.

Another source of market satisfaction: the director general of Tesla, X and SpaceX, Elon Musk, told analysts that he would considerably reduce his work within the DOGE (Department of Government Effectiveness) to focus on the management of his own companies. The Tesla action jumped more than 5% in a forefoot.

Other companies’ results animate exchanges before the publication of the PMI indices that could provide elements on the evolution of the economic situation in a context of fear of a world trade war.

Danone fell 0.90% despite growth in its sales higher than expectations for the first quarter. OPPOBILITY jumped almost 6% after having announced that it had implemented additional savings to compensate for potential volume drops linked to the new American customs duties. Eurofins Scientific (+5.69%) is increased by the jump of 6.9% of its turnover in the first quarter.

Elsewhere in Europe, SAP climbs by 9.40%, the German software publisher having reported an operating profit adjusted in the first quarter of 2.5 billion euros, against a consensus fixed at 2.22 billion euros.

AB Volvo decreases by 1.43%, the Swedish manufacturer of heavy goods vehicles having reported a greater drop than expected of its operating profit in the first quarter.

Akzo Nobel jumped 6.69%, the manufacturer of Dulux paintings having published a result higher than expectations, carried by cost and higher prices.

BE Semiconductor Industries (BESI) earns 4.10%, the Dutch supplier of components for the manufacture of electronic chips having underlined a leap in AI demand in Asia.

Randstad climbed 4.23% thanks to a better than expected quarterly operating profit.

(Written by Claude Chendjou, edited by Kate Entringer)

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