by Claude Chendjou
PARIS (Reuters) – European scholarships ended up on Thursday and Wall Street was also oriented in the green at the end of the morning in New York, the enthusiasm of investors being supported by a reassuring report on American employment, encouraging activity indices in Europe and the United States, as well as the prospect of new agreements in world trade.
In Paris, the CAC 40 ended on a gain of 0.21% to 7,754.55 points. The British Footsie advanced by 0.55% and the German Dax increased by 0.47%.
The Eurostoxx 50 index won 0.37%, the FTSEURofirst 300 0.36%and the Stoxx 600 0.40%.
At the time of the closing in Europe, the Dow Jones advances 0.78%, the Standard & Poor’s 500 of 0.85%and the Nasdaq by 1.04%. These last two clues have scored new records while the session will be shortened (closing at 5:00 p.m. GMT) due to Independence Day, the American national holiday, scheduled for Friday. NVIDIA stands out by becoming the best -valued listed company in session in session with a market capitalization close to 4,000 billion dollars.
In the United States as in Europe, the appetite for risky assets accelerated after the publication of the monthly US employment report, which showed more important non-agricultural positions than scheduled in June, while the day before the ADP firm survey had raised fears of the situation in the labor market.
“Today’s figures, which report a higher payroll to forecasts, a drop in unemployment rate and a decrease in unemployment inscriptions, completely refute the arguments in favor of an imminent drop in rates and suggest that there is absolutely no emergency to support from the Fed,” summed up Seemah Shah, a strategist chef at main asset management.
On the bond market, the short American yields have skyrocketed and the dollar has firmed in front of a basket of reference currencies.
The encouraging PMI indexes in the euro zone and the United Kingdom had previously participated in the good humor of the market, which was reinforced by a rebound in the activity of services in the United States last month.
Before that, the appeasement of Sino-American tensions with in particular a lifting of export restrictions in certain sectors and the announcement of a trade agreement between the United States and Vietnam before the deadline of July 9 on customs duties had enthusiastic investors.
Sign of relaxation in the equity markets, gold dropped by 1% and the volatility index was withdrawn to Wall Street and that on the Eurostoxx 50 down by almost 3%.
Values ​​in Europe
Virbac climbed 9.33% after raising the recommendation of Oddo BHF on the French animal health specialist of “neutral” in “outperformance”, with a target of course at 395 euros.
Pluxee, the former Division of advantages to Sodexo employees, jumped 4.43% thanks to a quarterly turnover up 11.1% and confirmation of its annual objectives.
Siemens advanced 0.82%, the German group having announced the restoration of access to its software and technologies for its Chinese customers.
Changes
The dollar, supported by the American indicators of the day, takes 0.30% Thursday against a basket of reference currencies, ending towards two consecutive gains sessions.
The euro fell 0.32%, to 1,1760 dollar, second consecutive drop in as many sessions.
The pound sterling is exchanged at 1.3657 dollars (+0.15%) after a drop of almost 1% on Wednesday, linked to rumors of a departure from the Minister of Finance, Rachel Reeves.
RATE
The yield of American treasury bills at ten years rises from 3.5 basic points, to 4.328%, and the one at two years flies from more than eight points, to 3.8696%. This comes after data showing that the world’s first world has created more jobs than expected last month, supporting the arguments in favor of patience on Fed rates.
That of the German Bund at ten years has sold 3.8 base points, to 2.582%, and that at two years, 2.1 points, to 1.840%, while the European Central Bank (ECB) noted an increasing uncertainty on world trade in the report of its last monetary policy.
OIL
The oil market is affected by the prospect of an increase in OPEC+ production that meets this weekend.
The Brent refused from 0.97% to 68.44 dollars per barrel and light American crude (West Texas Intermediate, WTI) from 0.97% to 68.44 dollars.
To be continued Friday:
(Written by Claude Chendjou, edited by Sophie Louet)
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