by Augustin Turpin

PARIS (Reuters) – The main European scholarships are expected in the red on Monday at the opening, on the first day of a week still marked by the revival of trade tensions between China and the United States, and before a session which will be marked by the publication of PMI manufacturing indices for several major economies.

The term contracts report a decrease of 0.54% for the Parisian CAC 40, 0.54% for the Dax in Frankfurt, 0.11% for the FTSE in London and 0.65% for the Stoxx 600.

The decision of US President Donald Trump, who announced on Friday plan to bring customs duties of 25% on steel to 50% from June 4, angered the European Union negotiators.

Speaking on Sunday, the American Treasury Secretary Scott Bessent also said that Trump would soon speak to Chinese President Xi Jinping to settle a dispute concerning rare earths, an announcement minimized by Beijing.

Officials of the White House also continued to minimize a judgment of the Court according to which Trump had exceeded his authority by imposing reciprocal customs duties on imports from American trade partners.

“The judgment of the Court will complicate the path to follow in terms of commercial policy, but there is a sufficient set of provisions available for the administration in order to obtain the desired results,” said Bruce Kasman, chief economist at JPMorgan.

While the revival of commercial tensions weighs on the feeling, the attention of investors will be focused in Europe on the successive publications of the PMI manufacturers for France, Germany, the euro zone and Great Britain, which will give more information on the health of the companies of the Old Continent.

The values ​​to follow:

A Wall Street

The New York Stock Exchange finished down on Friday after President Donald Trump accused Beijing of raping the customs duties agreement.

The Dow Jones index won 0.13%, or 54.34 points, at 42,270.07 points.

Standard & Poor’s 500, wider, has lost -0.48 points, or -0.01% to 5,911.69 points.

The Nasdaq Composite fell on its side of -62.11 points, or -0.32% to 19,113,767 points.

In Asia

Chinese actions listed in Hong Kong touched their lowest level in a month on Monday with the revival of trade tensions between China and the United States. In China, the composite index of the Shanghai Stock Exchange fell by 0.47% and the CSI 300 of large capitalizations abandons 0.48%. The Hong Kong Stock Exchange lost 1.97%.

The Nikkei index closed on a drop of 1.3% to 37,470.67 points, weighed down by commercial tensions, while a strong yen has penalized car manufacturers.

The broader Topix sold 0.87% to 2,777.29 points.

RATE

The yield of Treasuries at ten years takes 0.6 base points (PB) at 4.4240%. The two years sells -0.4 pb to 3.9098%.

The yield of the German Bund at ten years takes 0.8 pb at 2.5160%. The two years lost -1.1 pb at 1.7770%.

Changes

The greenback decreases slightly and sells part of its earnings from last week, under the weight of Donald Trump customs measures, perceived as capable of restricting growth and stimulating inflation.

The dollar abandons 0.31% against a basket of reference currencies, while the euro earns 0.34% at 1.1391 dollars.

OIL

The oil prices climb after OPEC +’s decision to increase production in July of the same amount as in the previous two months, bringing relief to investors who expected a greater increase.

Brent took 2.4% at 64.27 Dollars per barrel, while the American light crude (West Texas Intermediate, WTI) gained 2.4% at 62.49 dollars.

Main economic indicators at the agenda of June 2:

Pays GMT indicator previous consensus period

Fr 07h50 PMI Manufacturing index May 49.5 49.5

Definitive “Hcob”

From 07:55 PMI Manufacturing PMI May 48.8 48.8

final HCOB

EZ 08h00 PMI Manufacturing index May 49.4 49.4

final HCOB

GB 08:30 am PMI index S & P Manufacturer May 45.1 45.1

final

USA 1:45 pm PMI S&P index MAUFACTER May – 52.3

final

(Written by Augustin Turpin, edited by Blandine Hénault)

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