by Mara Vilcu

(Reuters) – European scholarships finished in dispersed order on Thursday, while investors are looking forward to the Jackson Hole symposium.

In Paris, CAC 40 lost 0.44% to 7,938.29 points. In Frankfurt, the Dax advanced by 0.06% and in London, the FTSE 100 rose 0.23%.

The Eurostoxx 50 index lost 0.22%, the FTSEUROFIRST 300 won 0.03%and the Stoxx 600 abandoned 0.04%.

This Thursday, looks turn to the Jackson Hole symposium. Central bankers meet from Thursday and for two days in Jackson Hole, Wyoming, for the Fed symposium. The highlight of the meeting, the speech scheduled for Friday at 2:00 p.m. GMT from the boss of the American central bank, Jerome Powell.

“This year’s Jackson Hole symposium arrives at a complicated time for the world markets,” said Daniela Hathorn, senior market analyst at Capital.com.

The “minutes” of the Fed, published on Wednesday, showed that only two officials of the central bank had openly pleaded for a drop in rates last month and that the other members of the Federal Open Market Committee (FOMC) remained concerned with inflation.

With regard to customs duties, the United States and the European Union published a joint declaration on Thursday, acting the trade agreement concluded on July 27 in Scotland between US President Donald Trump and the president of the European Commission Ursula von der Leyen.

The three-page text confirms the establishment of customs duties capped at 15% on most European products exported across the Atlantic such as cars, medicines, semiconductors or wood.

In addition, after continuing his attacks against Jerome Powell earlier in the week, the White House tenant targeted the governor of the Fed Lisa Cook on Wednesday, demanding his resignation due to accusations aimed at the false declaration of main residence. Lisa Cook said that she had “no intention of being intimidated to resign”.

VALUES

In the wake of Coty, L’Oréal (-1.48%) was among the strongest folds in CAC 40.

In Frankfurt, CTS Eventim dropped 16.91%, red lantern of the Stoxx 600, after the publication of results for the second quarter in expectations.

A Wall Street

Coty fell 20.06% in the wake of its quarterly results published Wednesday evening. The group has planned a drop in sales for the current quarter due to the low demand for beauty products in the United States and reports an unexpected loss for its fourth quarter.

At the end of the closure in Europe, exchanges at the New York Stock Exchange indicated a drop of 0.39% for the Dow Jones, by 0.38% for the Standard & Poor’s 500 and 0.38% for the Nasdaq composite too.

The indicators of the day

Unemployed registration increased more than expected in the United States during the week to August 16, to 235,000 against 224,000 in the previous week, the Labor Department announced on Thursday.

Companies in the private sector in the euro zone have experienced in August an increase in new orders for the first time since May 2024, supporting an expansion of activity despite continuous export weakness, according to a global S&P survey with purchasing directors published on Thursday.

Changes

The dollar is increasing before the eagerly awaited speech by the president of the Fed, Jerome Powell on Friday, which will be analyzed in search of new indices on the probability of a drop in interest rates by the US central bank next month.

The dollar earns 0.32% against a basket of reference currencies.

The euro lost 0.26% to $ 1.1621.

RATE

American yields are increasing before the big raout of central bankers in Jackson Hole and after data that showed that unemployed registration increased more than expected in the United States during the week to August 16.

The yield of Treasuries at ten years is advancing from 4.1 base points to 4.3374%. The two years takes 4.8 base points at 3.7918%.

The yield of the German Bund at ten years is advancing from 3.9 base points to 2.7555%. The two years earns 4.2 base points at 1.9743%.

OIL

The crude prices are progressing for the second session in a row, thanks to a drop in weekly crude crude stocks in the United States which suggests a strengthening of demand while uncertainties surrounding conflict resolution in Ukraine provide support.

The Brent advances 0.45% to 67.14 dollars per barrel and light American crude (West Texas Intermediate, WTI) takes 0.38% to 62.95 dollars.

To follow on August 22:

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Kate Entringer)

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