by Mara Vilcu

(Reuters) – European scholarships ended up on Wednesday, investors who were relieved by the latest announcements by American president Donald Trump on the president of the Federal Reserve (Fed) Jerome Powell the day before.

In Paris, CAC 40 won 2.13% at 7,482.36 points. In Frankfurt, the Dax advanced 3.00% and London, the FTSE 100 rose 0.90%.

The Eurostoxx 50 index won 2.67%, the FTSEURofirst 300 took 1.75%and the Stoxx 600 advanced by 1.67%.

Donald Trump said on Tuesday that he did not intend to dismiss the president of the American Federal Reserve (Fed). The tenant of the White House was also optimistic about the possibility that a trade agreement with China “considerably” reduces customs duties.

“Although it is still early, the market trend is obviously changing and the feeling of ‘Sell America’ which reigned yesterday in the markets was partly reversed,” according to Chris Weston, research manager at Peppperstone.

In addition, according to statements made Wednesday by a source to the file, the White House plans to lower customs duties on imported Chinese products, pending discussions with Beijing. Any measure would be taken within the framework of negotiations and not unilaterally, according to the source.

Another element bringing satisfaction on the markets today, 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.

This week, investors closely follow the quarterly results of companies, seeking clues to the consequences of Trump’s trade policy.

VALUES

OPPOBILITY won 8.45% after having announced that it had implemented additional savings measures to compensate for potential volume drops related to new American customs duties.

Eurofins Scientific advanced 12.02%, brought by the jump of 6.9% of its turnover in the first quarter.

SAP gained 10.62%, the German software publisher having reported on Tuesday an operating profit adjusted in the first quarter of 2.5 billion euros, against a consensus set at 2.22 billion euros.

BE Semiconductor Industries (BESI) advanced by 0.84%, the Dutch supplier of components for the manufacture of electronic chips having underlined a leap in AI demand in Asia.

A Wall Street

At the time of the fence in Europe, exchanges on the New York Stock Exchange indicated an increase of 1.53% for the Dow Jones, 1.95% for Standard & Poor’s 500 and 2.85% for the Nasdaq Composite.

Tesla wins 7.30%.

Boeing takes 6.30% after its results in the first quarter.

Boston Scientific advances 5.44% after revising its forecast for annual profit.

The indicators of the day

The activity in the private sector in France was contracted in April at a sustained rate, under the effect of a sharp drop in services, shows the PMI S&P Global and Hcob preliminary survey, published on Wednesday.

In Germany, the activity of the private sector contracted in April, penalized by the difficulties of the services sector and the uncertainty linked to trade, even if the industrialists show a certain resilience, shows a survey published on Wednesday.

The growth of economic activity in the euro zone emerged this month just in balance with a contraction services sector and a new slowdown in the manufacturing sector, shows a survey published on Wednesday.

The activity of British companies recorded in April its largest slowdown in more than two years in a context of the intensification of the trade war, shows a survey published on Wednesday.

Changes

The greenback is recovering on Wednesday, in the hope of a de -escalation of trade tensions and while President Donald Trump returned to his threats of dismissal from the director of the Fed, thus offering relief to investors.

The dollar earns 0.57% against a basket of reference currencies.

The euro lost 0.47% to 1.1366 dollars.

RATE

The yield of Treasuries at ten years loses 5.5 base points at 4.3344%. The two years earns 4.0 base points at 3.8278%.

The yield of the German Bund at ten years earns 5.8 base points at 2.5000%. The two years advances from 7.9 base points to 1.7390%.

OIL

Oil prices fall on Wednesday as sources said that OPEC+ could accelerate its oil production increases next month, but losses were attenuated after a report that US President Donald Trump could reduce customs duties on Chinese imports.

Brent abandoned 2.19% to 65.96 dollars per barrel and light American crude (West Texas Intermediate, WTI) lost 2.47% to 62.10 dollars.

Metals

The cash in cash, which registered its 28th record on Tuesday since the start of the year, at 3,500 dollars, fell back on Wednesday from 2.99%on Wednesday, to 3,280.40 dollars, in reaction to the words of Donald Trump which feed optimism on risky assets.

(Written by Mara Vîlcu, edited by Augustin Turpin)

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