by Claude Chendjou

PARIS (Reuters) – European scholarships finished down Thursday after the publication of data showing that economic activity in the euro zone fell into a contraction zone this month, while Wall Street American debt continues to arouse questions.

In Paris, the CAC 40 ended with a loss of 0.58% to 7,864.44 points. The British footsia fell 0.54% and the German Dax by 0.47%.

The Eurostoxx 50 index reflected 0.55%, the FTSEURofirst 300 of 0.71%and the Stoxx 600 of 0.64%.

At the time of the closure in Europe, the Dow Jones advances 0.23%, the Standard & Poor’s 500 of 0.20% and the NASDAQ of 0.66%

In Europe, all the major compartments of the Stoxx 600 index have finished in the red, while the volatility index on the Euro Stoxx 50 has climbed almost 10% above 18 points, in a context of distrust of risky assets after disappointing indicators.

The activity of the private sector in the euro zone contracted unexpectedly in May, under the effect of a stronger drop than expected of the demand for services, according to the PMI S&P Global and Hcob preliminary survey published Thursday.

In the United Kingdom, industry, which has eliminated jobs at one of the fastest rhythms since the 2008 financial crisis, saw its prospects darken.

In the United States, the indicators of the day are rather encouraging with a “flash” index showing an acceleration of the activity of companies in April and a statistics testifying to a decline in weekly registration unemployed at 227,000 last week.

But these American data were relegated to the background, the budgetary situation and the debt of 36.200 billion dollars of the United States remaining the main concern of the markets while the bill of tax cuts and budget cuts in the United States, defended by Donald Trump, was adopted extreme accuracy by the Chamber of Representatives. The text, which will now be transmitted to the Senate, divides the Republicans and raises fears of an increase in the American debt, which has increased interest rates in recent days and cause turmoil during the recent auctions of treasury vouchers.

Values ​​in Europe

Elior won 3.84% after having experienced strong volatility in the first trade on the stock market Thursday following the publication, the day before, of “mixed” results according to analysts.

Easyjet fell 2.62% after reporting a before tax loss of 394 million pounds (466.92 million euros) over the period from six months to the end of March.

Kiss, the Tomb Raider video game editor, plunged 17% after the postponement of the release of one of its flagship titles.

Johnson Matthey flew by 30.67%, the British chemical group having agreed to sell its activity of catalyst technologies to Honeywell International for 1.8 billion pounds, including debt.

Changes

After three consecutive withdrawal sessions, the dollar has straightened somewhat, taking 0.32% against a basket of reference currencies.

“The dollar is slightly up today, but the nerves of the market are clearly raw and all the movements in the last sessions have been very cautious,” notes Helen Given, director of trading at Monex USA.

The euro fell 0.41%, to 1.1284 dollars, while the pound sterling exchanges $ 1.3,425 (+0.06%).

Bitcoin reached a historic summit on Thursday, at 111,862.98 dollars, in part because investors have looked for alternatives to American assets.

RATE

The very long -term rates in the euro zone continued their ascent, the German Bund at 30 years having affected its highest level in two months, at 3.179%, against the backdrop of the American debt.

The yields at ten years, on the other hand, ended up stable, that of the Bund of this deadline appearing at 2.641%, while the one at two years sold 3.9 base points, to 1.829%.

In the United States, the yield of Treasuries at 30 stabilized above 5%, after having touched a summit of a year and a half the day before. The American ten years fell Thursday, 3.2 base points, at 4.5646%.

OIL

Oil prices drop Thursday after information that OPEC+ discusses an increase in its production for July, supplying fears that the global supply greater than demand.

Brent Brent refused from 1.45% to 63.96 dollars per barrel and light American crude (West Texas Intermediate, WTI) from 1.45% to 60.68 dollars.

(Written by Claude Chendjou)

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