(Reuters) – The European scholarships finished down on Wednesday, the markets taking advantage of a respite period after a start of the week marked by the general enthusiasm for the trade agreement between China and the United States.
In Paris, the CAC 40 finished down 0.47% to 7,836.79 points. The British Footsie closed a decline of 0.21% and the German Dax by 0.57%.
The Eurostoxx 50 index ended up 0.33%, the FTSEURofirst 300 from 0.26%and the Stoxx 600 of 0.36%.
The Stoxx took advantage of a certain lull on Wednesday after winning more than 17% since April 9, the day when Donald Trump declared his intention to put his “reciprocal” customs rights in pause while the markets were in free fall on both sides of the Atlantic.
Investors delay pending potential new trade agreements, Donald Trump having already mentioned the possibility of concluding with India, Japan and South Korea and he is currently in the Gulf region to meet several of his counterparts.
Numerous corporate publications in the bank, luxury, leisure and industry have also animated exchanges while the season of results in Europe is coming to an end.
Based on the quarterly results published so far, analysts estimate that European companies will record an increase of 1.9% of their profits on average while they were tabling on 0.4% a week ago, according to LSEG data.
The latest macroeconomic data has also aroused certain optimism on the markets, such as the lower than expected increase in consumer prices in the United States and Germany in April.
Goldman Sachs noted his growth forecast on Wednesday at 12 months for the Stoxx 600 index, citing a renewed optimism after the trade agreement between the United States and China, which has appeased concerns about a global recession and a climbing on customs duties.
VALUES
The luxury sector has accused a decline despite the results deemed encouraging by the British giant Burberry, which nevertheless earned 16.8%. Kering yields 3.5% and LVMH 2.7%.
Alstom loses 16.5% after announcing “light” perspectives for 2025/26, despite 2024/25 solid results and above analysts’ expectations.
The German travel operator TUI fell by more than 10% after warning of a 1% drop in summer reservations.
A Wall Street
On the other side of the Atlantic, the main clues are changing cautiously while awaiting new developments in terms of customs duties.
At the time of the closing in Europe, the Dow Jones advances by 0.09%, the Standard & Poor’s 500 of 0.2%and the Nasdaq Composite of 0.65%.
To values, the “Megacaps” continue to take advantage of the enthusiasm aroused by the Sino-American trade agreement. Nvidia leads the dance with a gain of 3.4%, while Tesla advances 2.8%.
AMD takes a little more than 5% after announcing the launch of an action buyback program.
Super Micro Computers jumped almost 18%, continuing his rallying the day before after Raymond James began monitoring the value with a recommendation to “outperform”.
The indicators of the day
German inflation calculated according to European standards (IPCH) slowed down to 2.2% in April in annual rate, show the final data published Wednesday by the Federal Statistics Office confirming the preliminary data.
Changes
The dollar continues its fall Wednesday after having known its most marked decline in more than three weeks the day before, the lower than expected increase in consumer prices having revived bets on potential decreases in the rates of the Federal Reserve.
The greenback loses 0.15% against a basket of reference currencies, while the euro is reinforced from 0.15% to 1.1201 dollars.
RATE
Bond yields in the euro zone are relatively stable after reaching several weeks higher on Wednesday, fears about economic growth that was largely dissipated by the latest commercial advances.
The yield of the German Bund at ten years grabbed 0.5 basic point to 2.6970%, that of the two years 0.3 basic point at 1.9430%
Across the Atlantic, the yields of treasury bills are advancing for the second consecutive session against the backdrop of concerns about the acceleration of inflation in the coming months.
The yield of Treasuries at ten years earns 1.3 base points at 4.5125% and that of two years 2.1 base points at 4.0382%.
OIL
The oil prices are down in the face of the possibility of a rebound in the American gross inventories and after OPEC has lowered its forecast for oil supply for producers not belonging to OPEC+.
Brent yields 0.72% to 66.15 dollars per barrel and American brut (West Texas Intermediate, WTI) 0.66% to 63.25 dollars.
To be continued Thursday, May 15:
Talks are expected to take place Thursday in Istanbul between Ukraine and Russia for potential ceasefire, although the Kremlin has not yet revealed the identity of its representative at the negotiation table. Volodimir Zelensky, for his part, insisted on speaking in mind with his Russian counterpart Vladimir Putin.
Many macroeconomic indicators are also on the menu on Thursday, including final inflation in France in April, the “flash” GDP of the euro zone in the first quarter or the “Philly Fed” feeling indicator and the activity index “Empire State” in the United States.
On the business side, Walmart’s results are expected before the opening of Wall Street.
The situation on the markets
(Some data may accuse a slight offset)
(Written by Pauline Foret, edited by Kate Entringer)
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