PARIS (Reuters)-The main European scholarships are net rebounded Tuesday in the morning with the announcement of the entry into force of a cease-fire between Israel and Iran, which causes a return to risky assets, a drop in the dollar, stability in bond yields and a significant decline in oil prices.
In Paris, the CAC 40 takes 1.41% at 7,643.69 points around 7:30 am GMT. In London, the FTSE 100 advances 0.44% and in Frankfurt, the Dax gained 1.82%.
The Eurostoxx 50 index increased by 1.66%, the FTSEURofirst 300 of 1.27%and the STOXX 600 of 1.22%.
The term contracts at Wall Street prefigure an increase of 0.94% for the Dow Jones, 0.99% for the Standard & Poor’s 500 and 1.30% for the Nasdaq the day after a session in the green.
President Donald Trump announced on Tuesday that a cease-fire was now in force between Israel and Iran on the twelfth day of armed confrontation between the two countries. The Israeli Prime Minister Benjamin Netanyahu said that the Hebrew state accepted this truce proposal, while the NATO summit opens in The Hague on Tuesday.
“Following Trump’s announcement, the market turned to risk,” said Shuutarou Yasuda, market analyst at Tokai Tokyo Intelligence Laboratory.
A sign of a reflux of fears, the volatility index to Wall Street plunges more than 8%.
In values, the oil sector in Europe (-3.46%) has been abandoned while Brent has fallen lower since June 11. Totalnergies, BP, Shell and Equinor drop from 4% to 7%.
In business news, FDJ United took 2.70% after the presentation of its strategic plan “Play Forward 2028”, while OVH unscrews 9.71% after its quarterly results.
Monte dei Paschi di Siena advances 3.12% after receiving the green light from the European Central Bank (ECB) for the acquisition of Mediobanca (+2.43%), according to a source close to the file.
In addition to geopolitics, the market awaits interventions by central bankers during the day, including the hearing of Jerome Powell, the president of the American Federal Reserve, before the Congress. The day before, the vice-president of the Fed, Michelle Bowman, estimated on Monday that it was time to envisage an adjustment of guiding rates.
(Written by Claude Chendjou, edited by Augustin Turpin)
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