by Claude Chendjou

PARIS (Reuters)-Wall Street is expected to open up on Tuesday, while European scholarships are hesitant at mid-session, investors being pending advances in trade negotiations between the United States and their partners, which would make it possible to lift the uncertainties that have poisoned financial markets for months. Futures in New York indices report an opening of Wall Street down 0.39% for Dow Jones, 0.17% for Standard & Poor’s 500 and 0.05% for NASDAQ.

In Paris, the CAC 40 lost 0.20% to 7,721.41 points around 12:00 p.m. GMT. In Frankfurt, the Dax advances 0.08% and in London, the FTSE took 0.11%.

The pan -European FTSEUROFIRST 300 index regresses 0.17% and the Eurostoxx 50 in the euro zone of 0.23%. The Stoxx 600, penalized by banks (-0.58%) and basic resources (-1.34%), fell 0.20%, extending the losses of the day before after an initial rebound at the start of the session on Tuesday.

The Administration of Donald Trump hopes that countries will present their best offer by Wednesday as part of trade negotiations while the provisional customs agreement will expire next month, according to a letter project consulted by Reuters.

Donald Trump and his Chinese counterpart Xi Jinping should also meet this week, according to the White House, a few days after the US President accused China of having raped an agreement to reduce customs duties and commercial restrictions.

The Organization for Economic Cooperation and Development (OECD) also warned Tuesday that the increase in trade barriers and uncertainties in economic policy were going to weigh on global growth with weakened perspectives around the world.

“OECD forecasts will cause a lot of concern (…) Many people thought that inflation was perhaps behind us, but the great concern now concerns what will happen next,” said Danni Hewson, responsible for financial analysis at Aj Bell.

The preliminary data published Tuesday by Eurostat show, however, that inflation in the euro zone has slowed down more than expected over one year in May, to 1.9%, which confirms the prospect of a new drop in guiding rates of the European Central Bank (ECB) on Thursday, despite the risk that trade voltages feed the pressure on prices in the longer term.

The values ​​to follow at Wall Street

Merck discusses with the Swiss Biotechnology Group Moonlake Immunotherapeutics, side to Wall Street, as part of an operation of more than three billion dollars, the Financial Times reported on Monday, citing three sources close to the file. The Moonlake action jumped 19% in transactions outside the session.

Most megacapitalizations are down before the markets opened, including Microsoft which fell by almost 0.50%.

Values ​​in Europe

Elis lost 1.41% after the sale by Bpifrance of an participation of around 2.9% in the capital of the industrial laundry group.

UBS advances 2.72% thanks to the recovery of Jefferies’ recommendation.

Defense continues to progress (+0.43%) in the context of climbing the conflict between Russia and Ukraine, and while the sector will be more represented in the Stoxx 600 index, following the strong recently recorded gains.

Julius Baer fell 1.56%, the Swiss bank having announced new savings measures in the amount of 130 million Swiss francs by 2028.

The COFINIMMO real estate investment group earns 3.86% after the announcement of a merger with AEDIFICA (+1.13%)

RATE

The yield of the German Bund at ten years sells almost three base points, to 2.494%, with the slowdown in inflation in the euro zone which feeds anticipations of a drop in BCE rates on Thursday.

That of American treasury bills at ten years loses 5.4 base points, at 4.4083%, pending the publication of key data on American employment.

Changes

The dollar takes 0.37% Tuesday against a basket of reference currencies. However, the greenback remains close to its lowest level in six weeks while the trade war weighs on the American economy.

The euro fell by 0.47%, to 1.1387 dollars, penalized by the slowdown in inflation in the euro zone.

The Sterling book is exchanged at 1.3501 dollars (-0.30%).

OIL

The oil market is increasing on Tuesday, driven by geopolitical tensions while Russia and Ukraine intensify their war and Iran is preparing to reject an American nuclear agreement, deemed essential to soften the sanctions against Tehran.

Brent rises from 0.62% to 65.03 dollars per barrel and American light crude (West Texas Intermediate, WTI) from 0.69% to 62.94 dollars.

(Written by Claude Chendjou, edited by Augustin Turpin)

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