by Diana Mandia

(Reuters) – European scholarships finished on low variations on Monday, caution winning it while investors expect tangible results from the meeting between senior American and Chinese officials in London to try to defuse trade tensions between the two powers.

In Paris, CAC 40 lost 0.17% to 7,791.47 points. In Frankfurt, the Dax fell 0.54% and in London, the FTSE 100 abandoned 0.06%.

The Eurostoxx 50 index ended up on a drop of 0.17%, the FTSEUROFIRST 300 lost 0.11%and the Stoxx 600 fell by 0.08%.

The attention of investors was paid on the current discussions between the United States and China to Lancaster House, London, where the two powers try to resolve their disputes concerning the trade agreement concluded in Geneva last month on Monday, which briefly appeased the tensions between the two countries until Washington accuses Beijing of not having respected it.

Tensions between the first two economies in the world have extended customs duties to restrictions on rare earths in recent weeks, threatening to shake the world supply chain and slow down economic growth.

The London meeting, which could continue until Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping have maintained their phone, their first direct interaction since the Republican inauguration on January 20.

“Negotiations will have to continue for a while before we can decide whether real progress has been made or not. However, most investors keep hope that there will be positive results,” said Peter Andersen, of Andersen Capital Management.

During a session without a major catalyst other than hopes on commercial policy, the only macroeconomic indicator of the day came from China and its reading is inseparable from customs tensions: sign of the impact of American surcharge, exports from Asian giant to the United States plunged from 34.5% in May over a year, the highest decreased since February 2020 and the epidemic de COVID-19, according to data published Monday.

VALUES

At the values, the automaker Renault, who confirmed on Sunday that it had been contacted by the Ministry of the Armed Forces for drone production, took 1%.

Elsewhere in Europe, Alphawave, which will be bought by the American group Qualcomm, jumped 18.9%.

WPP, on the other hand, fell by 2.7% after the announcement of the departure at the end of the year of its managing director Mark Read.

A Wall Street

At the time of the fence in Europe, the New York Stock Exchange evolves out of order: the Dow Jones fell by 0.10%, while the Standard & Poor’s 500 takes 0.08%and the Nasdaq Composite 0.28%.

Warner Bros Discovery, which announced its split on two distinct companies on Monday, wins 7%.

Changes

The US dollar fell 0.23% in the face of a basket of reference currencies after gains consecutive to the solid report on the US employment on Friday and while prudence prevails in the trade in the Sino-American negotiations in London.

The euro earns 0.23% to $ 1.1420, the markets continuing to digest recent announcements from the European Central Bank (ECB) which has suggested that it could be close to ending its monetary easing cycle.

RATE

The yields of state bonds in the euro zone ended almost unchanged on Monday, investors examining the OCB’s prospects and Sino-American discussions in London.

The yield of the German Bund at ten years grabbed 0.5 basic point to 2.5690%, and its counterpart of the obligation at two years 0.2 basic point at 1.8770%.

In the United States, the yields are declining, the data on American employment published on Friday strengthening the idea that the economy will be more resistant than expected.

The yield of Treasuries at ten years recuke of almost 3 base points at 4.4817%. The two -year -old loses almost 4 base points at 4.0055%.

OIL

The prices of oil are progressing slightly, supported by the depreciation of the American currency and the hope that an agreement between the United States and China on the commercial issue stimulates the demand for crude.

The Brent advances 0.54% to 66.83 dollars per barrel and the American light crude (West Texas Intermediate, WTI) takes 0.56% at 64.94 dollars.

To be continued on June 10:

(Some data may accuse a slight offset)

(Written by Diana Mandiá)

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