by Claude Chendjou

PARIS (Reuters) – The European scholarships, apart from London, ended up on Tuesday, carried in particular with results of companies, while in Wall Street two of the three clues were in the green, supported by the figures of American inflation which attenuate the pressure on the American Federal Reserve (Fed).

In Paris, the CAC 40 ended on a gain of 0.30% to 7,873.83 points. The British Footsie fell 0.02% and the German Dax increased by 0.23%.

The Eurostoxx 50 index won 0.44%, the FTSEURofirst 300 0.05%and the Stoxx 600 0.12%.

At the time of the fence in Europe, the Dow Jones fell 0.42%, while the Standard & Poor’s 500 advances by 0.73% and the Nasdaq of 1.45%

Consumer price figures (ICC) in the United States, published this Tuesday, show that inflation came out in April below expectations, both in terms of global and on the so-called “Core” component which excludes volatile elements.

“The figures are a little higher than what I expected, but (…) from one year to the next, 2.3%, it’s not bad,” said Peter Cardillo, market economist at Spartan Capital in New York.

Inflation statistics, combined with the provisional customs agreement between the United States and China announced on Monday, hopes, in the eyes of investors, that the risk of recession is moving away and that the Fed will have more room for maneuver to control price development.

The financial markets have readjusted their anticipations of decreasing Fed rates, while several intermediaries, including JP Morgan Chase, Barclays and Goldman Sachs, revised downwards the risk of a recession in the United States.

This fueled the appetite for risky assets, the VIX index with Wall Street continuing to reflect, to fall under the 20 points, while its equivalent on Eurostoxx 50 fell by more than 8% to around 16 points.

In Europe, market good performance is also to be put in the assets of companies, with many results published this Tuesday. According to LSEG I/B/E/S data, European companies should report, on average, an increase of 1.9% of their profits in the first quarter, against a gain of only 0.4% expected by analysts a week ago.

Values ​​in Europe

Bayer took 2.83% after reporting less marked than expected of its adjusted profit in the first quarter.

Springer Nature gained 6.7% after noting its annual prospects.

Vestas jumped 9.24%, traders noting that the projects of American parliamentarians aimed at repealing some of the climate measures may not be as unfavorable as it is feared for European renewable energy companies.

German reinsurers Munich Re and Hannover Re fell each about 4.5% after reporting a sharp drop in their respective profit in the first quarter due in particular to claims linked to forest fires in Los Angeles this year.

Changes

The dollar fell on Tuesday, 0.65%, faced with a basket of international currencies, after the figures for American inflation.

The euro is processed at 1.1174 dollars, up 0.88%, after a decline of 1.4% on Monday.

The Sterling book appears at 1.3272 dollars (+0.77%).

Bitcoin, which has reached its highest level on Monday since January 31, advances from 0.82%, to 103,526 dollars.

RATE

The yield of the German Bund to ten took 3.3 base points on Tuesday, 2.675%, progressing for the fourth session in a row, after the appeasement of trade tensions between China and the United States.

That of American treasury bills of the same deadline rises from 4.4 base points, to 4.5026%.

OIL

The oil market is increasing, continuing to be drawn by the Sino-American agreement on customs duties and economic prospects.

The Brent increased by $ 66.35 per barrel and the American brut (West Texas Intermediate, WTI) from 2.42% to 63.45 dollars.

(Written by Claude Chendjou, edited by Kate Entringer)

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