by Diana Mandia
PARIS (Reuters) – The main European scholarships are awaited upwards on Monday at the opening, supported by hopes of progress in commercial negotiations after a first meeting this weekend between the American and Chinese delegations, which both made constructive discussions, although concrete details are still expected.
According to the first indications available, the Parisian CAC 40 could gain 0.96% at the opening.
The term contracts report an increase of 0.91% for the Dax in Frankfurt and 0.37% for the FTSE in London, while the Stoxx 600 should open on an increase of 0.75%.
European scholarships are expected to start the week supported by the hope of progress in the trade war between the United States and China, after the delegations of the two countries found themselves face to face this weekend in Geneva for discussions qualified as constructive, whose details are expected later during the day.
American representatives notably reported an “agreement” intended to reduce the United States trade deficit with China, while Chinese representatives reported that a “important consensus” had been found.
It was the first face -to -face meeting between Washington and Beijing since the two main economies in the world decided to customs duties of 145% on products from China and 125% on American products.
The financial markets are on the lookout for any sign of appeasement of trade tensions that have shaken the global scholarships in April and fuel fears concerning the economy and the disruption of supply chains.
“The weekend talks are better than expected. The two parties are strongly encouraged and in a hurry to advance commercial negotiations,” said Charles Wang, president of Shenzhen Dragon Pacific Capital Management CO in Shenzhen “, noting that the process will be long and that the two parties will have to determine” the domains of concession and perseverance “.
Last Friday, Donald Trump had cooled certain investors after declaring that Beijing had to open his market in the United States and that 80% surcharge seemed “fair”.
The feeling of investors should also be supported by the possibility of progress towards the end of the war in Ukraine while the Russian president, Vladimir Putin, proposed Sunday to resume direct peace negotiations with Kyiv on May 15 in Istanbul and the Ukrainian president Volodimir Zelensky said he was ready to meet him, while asking for a complete cease talks.
On the macroeconomic level, the consumer price index in the United States in April, scheduled for Tuesday, will provide a new reading of inflation trends against the backdrop of trade war, while the retail sales figures of April, which will be published Thursday, will give the latest information on the health of consumer expenses.
The values ​​to follow: [L8N3RH2OD]
A Wall Street
The New York Stock Exchange ended in dispersed order on Friday, investors gauging the comments of President Donald Trump on Chinese customs duties. The Dow Jones index sold 0.29%, Standard & Poor’s 500, wider, lost 0.07% at and the Nasdaq Composite finished stable.
In Asia
In Tokyo, the Nikkei takes 0.28% at 37,609.86 points on Monday around 07:20, even if the index slipped into the red earlier in the session under the profits. Medicines manufacturers are also retreating after US President Donald Trump said he would sign a decree on the reduction in prescription drugs and pharmaceutical products on Monday.
In China, the epicenter of the trade war waged by Donald Trump, the scholarships evolve in the green on Monday after the discussions of the weekend between Chinese and American officials.
The composite index of the Shanghai Stock Exchange increased by 0.51% and the CSI 300 of large capitalizations advances 0.79%.
The Hong Kong Stock Exchange takes 1%.
Consumer prices in China also fell in April for the third consecutive month and production prices have continued while legislators have estimated the impact of American customs duties on the economy.
Rate / change
The yield of Treasuries increases on Monday with commercial hopes: that of the obligation at ten years takes nearly 4 base points at 4.4118%, just like that of its counterpart at two years, which stands at 3.9224%.
On the foreign exchange market, the dollar appreciates after discussions of the weekend between the United States and China have appeared the concerns of a trade war.
The greenback thus gains 0.32% against a basket of reference currencies while the euro loses 0.23% to 1.1221 dollars.
OIL
Oil prices are growing on Monday after the United States and China reported progress on the commercial front.
The Brent took 0.67% at 64.34 dollars per barrel and the American light crude (West Texas Intermediate, WTI) advances from 0.74% to 61.47 dollars.
No major economic indicator at the May 12 agenda
(Written by Diana Mandia, edited by Kate Entringer)
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