by Diana Mandia

(Reuters)-Wall Street is expected without management and European scholarships are cautiously progressing on Wednesday in mid-session, investors awaiting data on American inflation and evaluating the scope of the framework agreement aimed at defusing the commercial conflict between Washington and Beijing. Futures in New York indices report an almost stable opening for Wall Street. In Paris, the CAC 40 earns 0.01% at 7,805.34 points around 11:03 GMT. In Frankfurt, the Dax advances 0.13% and in London, the FTSE 100 grabbles 0.05%.

The Eurostoxx 50 index and almost unchanged (-0.01%), as is the FTSEUROFirst 300 (-0.08%) and the Stoxx 600 (-0.09%).

After two days of negotiations in London, senior American and Chinese officials reached a framework agreement aimed at removing Chinese restrictions on rare land exports and certain American restrictions, which should allow the first two economies in the world to keep the truce on customs duties concluded in Geneva last May.

The text, which must now be subject to the approval of the Chinese and American presidents, has nevertheless been welcomed rather coldly by the investors, who are always waiting for more details, and who do not forget that the two parties have until August 10 to negotiate an agreement before customs duties go from 30% to 145% for the American party and from 10% to 125% for the Chinese party.

“It will always be very difficult and it will take a long time for both parties to achieve a global trade agreement,” notes Carol Kong, analyst at Commonwealth Bank of Australia.

In addition to customs duties, investors will closely watch the figures for American inflation in May, notably by seeking the effect of surcharges on the prices of imported products, which could increase the underlying inflationary pressures.

In addition to customs duties, investors will closely follow the figures for American inflation for the month of May at 12:30 p.m. GMT, by taking an interest in particular in the effect of surcharges on the prices of imported goods, which could strengthen the underlying inflationary pressures.

In the United Kingdom, the Chancellor of the chessboard, Rachel Reeves, will present on Wednesday from 11:30 am GMT his public spending plans in a speech in Parliament, an announcement which could be decisive for the objectives of the Labor Party in the power to stimulate growth. The values ​​to follow at Wall Street

Tesla advances 1.8% in a forefoot after its managing director Elon Musk said that he regretted some of the criticisms he made last week against US President Donald Trump, paving the way for a de-escalation of tensions between the two who abused the action of the automaker.

Values ​​in Europe

Fnac Darty increased by 7.9% after having presented its strategic plan for 2030 on Wednesday, with objectives that analysts consider consistent.

Inditex, the owner of the ready-to-wear brand Zara, loses 4.4% after reporting lower sales to the expectations in the first quarter and for his summer pre-season. The drop in Inditex leads to that of the European distribution compartment, which yields 1.5%.

British property developers Bellway and Vistry increased between 3% and 8% before Rachel Reeves’ speech on public spending to stimulate the British economy.

RATE

The yields of the state bonds of the euro zone are mixed on Wednesday, investors awaiting data from American inflation and evaluating the framework agreement between the United States and China. The yield of the German Bund at ten years takes 1.4 base points at 2,5,460%. The two years is stable at 1.8530%.

In the United Kingdom, the Gilt at 30 years advances from 7.7 base points to 5.3300% and that at 10 years took almost 6 base points at 4.609% before the speech of Rachel Reeves.

American returns are up before the publication of consumer prices in the United States and a sale of long-term bonds expected later in the day.

The yield of Treasuries at ten years old takes 2.8 base points at 4.5017%. The two years advances 1.9 base points at 4.0308%.

The markets await a sale of $ 39 billion in bonds at 10 years, anxious to see if foreign buyers arise while concerns about the budgetary deficit and the debt of the United States push investors to demand a higher bonus to hold treasury.

Changes

The dollar changes little Wednesday after the agreement between the United States and China, investors await more details to position themselves.

The dollar is rather stable (-0.09%) against a basket of reference currencies and the euro gains 0.14% at 1.1439 dollars.

The Sterling book won 0.03% against the dollar and lost -0.08% against the euro before the British government spending project.

OIL

Oil prices reached their highest level in seven weeks on Wednesday, the markets evaluating the outcome of trade negotiations between the United States and China, while pessimism concerning nuclear negotiations between the United States and Iran has also supported.

Brent takes 1.18% at 67.68 dollars per barrel and American light crude (West Texas Intermediate, WTI) 1.45% at 65.92 dollars.

(Written by Diana Mandiá, edited by Kate Entringer)

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