by Claude Chendjou
PARIS (Reuters)-European scholarships finished down on Wednesday under the pressure of a rise in oil prices, while in Wall Street the trend was indecisive in mid-session, investors continuing to assess the scope of the ceasefire between Iran and Israel.
In Paris, the CAC 40 finished on a loss of 0.76% to 7,558.16 points. The British footsia fell 0.46% and the German Dax declined by 0.57%.
The Eurostoxx 50 index lost 0.85%, the FTSEURofirst 300 0.80%and the Stoxx 600 0.74%. The latter index had recorded his highest increase in a single session for over a month, which has given rise to profit on Wednesday on Wednesday.
At the time of the fence in Europe, the Dow Jones fell 0.24%, the Standard & Poor’s 500 of 0.02%, while the Nasdaq takes 0.23%. The American clues navigate with one foot in the green, another in the red, while the S&P 500 approached its record, reached last February.
The evolution of the situation in the Middle East remains at the center of attention on the markets while the American president, Donald Trump, said on Wednesday that his government planned to have discussions with Iran next week, after the failure of the talks started in April between the two countries on the Iranian nuclear program and the American strikes carried out last weekend against nuclear sites of the Islamic Republic.
The fragile ceasefire between Iran and Israel does not reassure completely, as evidenced by the rise in oil prices and the strengthening of the dollar.
The market also monitors the latest developments at the NATO summit in Hague, which has raised its expenditure objective, supporting the defense sector in Europe (+1.31%).
Values ​​in Europe
Stellantis won 3.09%, Jefferies having noted his recommendation to “buy” against “keep” on the automaker.
Ferrari increased by 2.21%, after a conference call for the automaker, which was well received by certain analysts, including those of Bernstein.
Babcock flew by 10.74%, the British Defense Engineering Company having revised upwards its forecasts in the medium term.
The indicators of the day
Sales of new individual houses in the United States fell more than scheduled in May, by 13.7%, high mortgage rates hampered demand, which increased the supply of invented houses on the market, according to the Census Office of the Commerce Department.
The household confidence index in France came out stable in June, at 88 points, according to the monthly conjuncture survey published by INSEE.
Changes
The dollar evolved in halftone on Wednesday, in what analysts described as consolidation after a sharp drop in the main currency on Tuesday following the cease-fire agreement between Israel and Iran. At the closing of the markets in Europe, the greenback took 0.10% against a basket of reference currencies.
The euro advanced 0.09%, to 1.1619 dollars, while the pound sterling was exchanged at 1.3622 dollars (+0.05%).
RATE
The yield of American treasury bills at ten years rises from 1.7 base points to 4.3102%, while the markets seek to determine the calendar of the drop in rates. On Wednesday, Jerome Powell, the president of the Fed, repeated that he did not exclude that customs duties could have a more or less important impact on inflation than anticipated.
The yield of the German Bund at ten years has taken 2.6 -point base at 2.561%at the end of the 30 years, while 3.068%advanced, in the aftermath of the German government of the 2025 budget government and the framework for 2026, providing for record investments over the two years.
The yield gap between the Bund and the French OAT at ten years fell under the 70 base points while the Prime Minister, François Bayrou, said on Wednesday that the “conclave” was “not a failure” and “very important advances” had been obtained.
OIL
The petroleum market recovered from its sharp drop in the start of the week, using more than 1% on Wednesday while data shows a relatively strong American demand, while investors assess the stability of the ceasefire between Iran and Israel.
Brent increased by 1.83 % to 68.37 dollars per barrel and American brut (West Texas Intermediate, WTI) advances from 2 % to 65.66 dollars.
To be continued Thursday:
(Written by Claude Chendjou, edited by Augustin Turpin)
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