by Mara Vilcu

(Reuters) – European scholarships finished in dispersed order on Monday, 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 fears of an amplification of the trade war.

In Paris, CAC 40 lost 0.27% to 7,808.17 points. In Frankfurt, the Dax abandoned 0.37% and in London, the FTSE 100 climbed 0.64%.

The Eurostoxx 50 index abandoned 0.23%, the FTSEURofirst 300 lost 0.04%and the Stoxx 600 lost 0.09%.

This Monday, trade tensions were, once again, at the center of attention.

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.

Maros Sefcovic, the European Commerce Commissioner, stressed on Monday that the 30% customs duties that Donald Trump threatens to impose on the EU from August 1 would amount to virtually reducing trade between the two blocks.

In addition to tensions concerning customs duties, the season of results started this week in the United States. Large banks kick off on Tuesday. Consumer prices, also expected Tuesday, could provide indices with regard to the impact of trade war on American inflation.

VALUES

The European automotive sector ends in red with commercial fears. Porsche, BMW, Mercedes-Benz, Volkswagen is abandoned between 2.05% and 2.48% in Frankfurt. Ferrari, Stellantis and Volvo Cars, lost between 0.59% and 4.44% after a session in negative territory.

In addition, Hermès lost 1.11% 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 won 3.90% after announcing on Friday the lifting of the temporary EMA restriction on the IXCHIQ vaccine in the elderly.

In London, Astrazeneca advanced by 2.03%, 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 resistant.

A Wall Street

At the time of the fence in Europe, the Dow Jones earns 0.03%, the Standard & Poor’s 500 0.01%and the Nasdaq Composite 0.16%.

Changes

The euro is in small increase after having briefly reached its lowest level in three weeks on Monday on Monday, while the dollar appreciated slightly after US President Donald Trump threatened to impose customs duties of 30% on imports from two of his largest business partners.

The dollar earns 0.11% against a basket of reference currencies.

The euro lost 0.05% to 1.1683 dollars.

In addition, Bitcoin crossed the 120,000 mark (102,951.27 euros) dollars for the first time on Monday, marking an important step for the world’s largest cryptocurrency in the world, while investors are betting on political victories expected for a long time by industry. He reached a record of 123,153.22 dollars.

He exchanged at 119,766.97 dollars around 15:50 GMT.

The House of Representatives of the United States will debate this Monday from a series of bills aimed at providing the regulatory framework that he has been claiming for a long time.

RATE

American returns at 10 years old are in small increase on Monday, while investors assess the prospect of a possible departure from the president of the American Federal Reserve (Fed), Jerome Powell, of the Central Bank.

The yield of Treasuries at ten years is advancing from 1.8 base points to 4.4412%. The two years lost 0.8 base points at 3.9061%.

The yield of the German Bund at ten years is advancing from 0.3 base points to 2,7290%. The two years fell from 3.1 base points to 1,8760%.

OIL

Oil prices are down after the American president said the United States imposed “very severe customs duties” on Russia in 50 days if Washington and Moscow do not reach an agreement to end the war in Ukraine.

Brent abandoned 0.94% to 69.70 dollars per barrel and light American crude (West Texas Intermediate, WTI) fell 1.27% to 67.58 dollars.

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Augustin Turpin)

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