(BFM Stock Exchange) – Black gold courses took off in a milking after the United States and China announced the suspension for 90 days of part of the customs surcharys that they have inflicted. The flagship index of the Paris Stock Exchange evolves it clearly.

China and the United States take a first step to bury the war ax on customs duties, the scholarship applauds.

Following a meeting this weekend in Geneva this weekend between several members of the American and Chinese executives, including the secretary of the Treasury, Scott Bessent, the two countries published a joint statement on Monday, May 12.

The two parts are suitable for suspending part of the customs surcharges for 90 days that they have inflicted each other. Scott Bessent told him to journalists that Washington would decrease 115 percentage points with customs surcharges hitting China to fall to 30%, AFP reports. China, it would drop from 125% to 10%, according to the indications of the American administration.

Following its declarations, oil climbed in one go, with courses earning more than 3% in the wake of these announcements. Around 10:05 am, the July Brent of the North Brent contract advances by 2.5% to 65.52dollars per barrel while that of June on the WTI listed in New York gained 2.8% at 62.70 Dollars per barrel.

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CAC 40 pulled by luxury

The United States and China represent the two largest oil consumers in the world, with 20 million and 15.15 million barrels per day respectively. China also remains the first importer of crude in the world.

American customs duties would have necessarily caused a negative impact on the two economies, even if they are in essence impossible to assess since constantly changing. The IMF integrated this risk in its latest forecasts, sealing its growth projection from the United States for 2025 to 1.8% against 2.7% previously. For China, the fund brought back its forecast to 4%, compared to 4.6% before.

In the equity markets, the CAC 40 accelerated its increase a little, taking up to 1.5%, in the wake of this ad, before losing a little breath. The flagship index of the Paris Stock Exchange takes another 0.7% at 7,797.62 points.

The CAC 40 had opened up sharply, supported by the encouraging statements of Scott Bessent pronounced on Sunday. The secretary of the Treasury said that “substantial progress” had been made by China and the United States, with details that would be announced on Monday.

Recovery for risk for risk draws cyclical values ​​and/or on the front line of customs duties such as Stellantis (+7%), Stmicroelectronics (+6.4%) or ArcelorMittal (+6%). Luxury is also in good shape: LVMH gains 6% and Kering 6%.

“The United States and China being clearly on the path of a larger agreement, we believe that new heights for the market and technological values ​​are now possible in 2025, because investors will probably focus on the next steps in these trade discussions that will take place in the coming months,” Dan Ives of Wedbush comments.

On the currency side, the dollar, abused in recent weeks, resumes vigor and earns 1.37% against the euro, at 0.9007 dollars for one euro.