by Mara Vilcu

(Reuters) – Wall Street is expected to decrease on Monday and European scholarships, except London, fell back to mid -session, while the announcement of customs duties of 30% on the products of the European Union (EU), if an agreement is not concluded by August 1, revives the fears of an amplification of the trade war. Futures in New York indices report an opening of Wall Street down 0.32% for the Dow Jones, by 0.34% for the Standard & Poor’s-500 and 0.38% for the NASDAQ. In Paris, the CAC 40 lost 0.47% to 7,792.72 points around 10:37 GMT. In Frankfurt, the Dax fell by 0.89% and in London, the FTSE 100 rises by 0.39%.

The Eurostoxx 50 index is down 0.64%, the FTSEURofirst 300 abandons 0.28%and the Stoxx 600 loses 0.31%.

At the start of the week, customs duties continue to monopolize the spirits, while US President Donald Trump continues his customs threats.

The tenant of the White House announced on Saturday that it would impose customs duties of 30% on the products imported from the European Union (EU) and Mexico from August 1 if no trade agreement is concluded by then, measures which would be added to those that the United States has already imposed or threaten to impose on certain sectors of activity.

“To use the largest clichés, it is always the roller coaster for all those who follow commercial news, even if the markets have managed to overcome their high-hearts and made sure to fill up on nausea,” said Jim Reid, strategist at Deutsche Bank.

Reacting to this announcement in a press release, the president of the European executive, Ursula von der Leyen, said she was ready to continue negotiations to the end, while ensuring that the twenty-seven would not hesitate to impose “countermeasures” if no agreement is reached.

Investors got used to the announcements perceived as chaotic of the American president. “It is difficult to say if the moderate reaction of the market is more a sign of resilience or a complacency,” said Taylor Nugent, senior economist at Nab.

In addition, this week, the season of results begins in the United States, the big banks kicking up on Tuesday. Consumer prices, expected on Tuesday, could also provide indices with regard to the impact of trade war on American inflation. The values to follow at Wall Street [L8N3TB0EL]

Values in Europe

The European automotive sector is in red with commercial fears. Porsche, BMW, Mercedes-Benz, Volkswagen are all down about 2% in Frankfurt. Ferrari, Stellantis and Volvo because, also in negative territory on Monday, lose between 0.85% and 1.41%.

In addition, Hermès fell 1.81% after Jefferies lowered his recommendation to “keep” against “buying”, citing concerns about the possible excessive dependence of the French luxury group with leather goods.

Valneva takes 8.82% after announcing the lifting of the temporary EMA restriction on the IXCHIQ vaccine in the elderly on Friday.

In London, Astrazeneca advances 1.51%, the laboratory having declared that its medication Baxdrostat has achieved all the objectives of an advanced phase study in patients with uncontrolled hypertension or treatment.

RATE

German bond yields at 10 years have briefly reached their highest level on Monday since early April, after Donald Trump’s new trade threats against products from the EU, before turning down.

The yield of Treasuries at ten years loses 0.2 base points at 4.4213%. The two -year -old abandons 1.8 base points at 3.8956%.

The yield of the German Bund at ten years lost 0.5 base points at 2,7,200%. The two years fell from 3.1 base points to 1,8760%.

Changes

The euro briefly reached its lowest level in three weeks on Monday before recovering partially, while the dollar appreciated slightly after the American president Donald Trump threatened to impose customs duties of 30% on imports from two of his largest business partners.

The dollar loses 0.02% against a basket of reference currencies.

The euro earns 0.03% to 1.1694 dollars.

Bitcoin crossed the $ 120,000 mark on Monday (102,951.27 euros) for the first time, marking an important step for the largest cryptocurrency in the world, while investors are betting on political victories expected for a long time by industry.

OIL

Oil prices are increasing on Monday and reached their highest level in three weeks, investors expecting new American sanctions against Russia that could affect global supply, while the increase in oil imports by China also supported courses.

The Brent advances from 1.59% to $ 71.48 per barrel and American light crude (West Texas Intermediate, WTI) takes 1.68% at 69.60 dollars.

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Augustin Turpin)

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