By Pauline Foret
PARIS (Reuters) – The main European scholarships are expected to decrease Tuesday at the opening of investors returning to their daily harassment after the break announced by Washington and Beijing in trade tensions between the two countries.
According to the first indications available, the Parisian CAC 40 could lose 0.11% at the opening.
Understanding contracts also report an increase of 0.07% for the Dax in Frankfurt and a drop of 0.28% for the FTSE in London and 0.07% for the Stoxx 600.
The result of last weekend meeting between American and Chinese representatives was more positive than expected. The two parties agreed to lower, for a period of 90 days, their respective customs duties to 30% and 10% against 145% and 125%, arousing a substantial rebound in global markets.
Many investors are nevertheless concerned about what will happen after this period of negotiations. Others also highlight the uncertainty caused by customs duties that remain in place.
“A de-escalation was inevitable and I think it is clear that there will not be much sustainable that will emerge from these negotiations,” said Christopher Hodge, the chief economist for the USA at Natixis.
“In the end, customs duties remain much higher than before and weigh on American growth,” he warned.
In addition to customs procrastination of the Trump administration, investors will be able to digest, later in the day, data from the ZEW index of investor morale in Germany and consumer prices (ICC) in the United States.
The latter will allow the markets to assess the possibility that the federal reserve does not damage its rates again. Traders are now counting on a decrease of 57 base points by the end of the year against more than 100 base points in mid-April, with a first reduction in September.
The values ​​to follow: [L8N3RK25V]
The results of Bayer and TKH Group are expected before the opening.
A Wall Street
The New York Stock Exchange ended up sharply on Monday after the announcement of an agreement between China and the United States aimed at greatly reducing customs duties, leaving to hope for a respite in world commercial disputes initiated by US President Donald Trump in early April.
The Dow Jones index won 2.81%, or 1 .160.72 points, at 42,410.10 points.
Standard & Poor’s 500, wider, took 184.28 points, or 3.26% to 5,844.19 points.
The Nasdaq Composite advanced 779.43 points, or 4.35% to 18,708.344 points.
At the values, Apple won 6.3% after press information that the group is planning to increase the price of the range of iPhones that will be launched in the fall.
In Asia
In China, the markets continue to support the accumulated earnings the day before after the news of the Sino-American trade agreement. The composite index of the Shanghai Stock Exchange increased by 0.18% and the CSI 300 of large capitalizations advances by 0.15%.
RATE
US bond yields, which touched a month old on Monday while the overall craze encouraged appetite for risky assets, retain their gains.
The yield of Treasuries at ten years grabbed 0.4 pb to 4.4610%, and the two years 0.2 pb to 4.0043%.
German bond yields, on the other hand, continue to increase while the markets are reduced their expectations in terms of reducing the rate of the European Central Bank after the comments of Isabel Schnabel, member of the ECB.
The yield of the German Bund at ten years increased by 2.0 pb to 2.6620% and the two years from 1.9 pb to 1,9450%.
Changes
The dollar fell a little on Tuesday but largely maintains the earnings made the day before optimistic about the future of trade relations between the two biggest economies in the world.
The greenback abandons 0.27% against a basket of reference currencies, tand that the euro advances from 0.26% to 1.1116 dollars.
OIL
Oil prices stabilize Tuesday after having touched a two -week higher week, weighed down by concerns about the rise in supply despite the optimism caused by the break in the trade war between the two largest oil consumers.
The Brent fell 0.15% to 64.86 dollars per barrel and the American light crude (West Texas Intermediate, WTI) from 0.13% to 61.87 dollars.
Main economic indicators at the May 13 agenda:
Pays GMT indicator previous consensus period
From 9:00 am “Zew” index of the morale of May 11.9 -14.0
investors
US 12:30 pm Consumer consumption price +0.3% -0.1%
“CPI”
– over one year 2.4% 2.4%
(Written by Pauline Foret, edited by Augustin Turpin)
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