by Claude Chendjou

PARIS (Reuters) – European scholarships ended up on Wednesday and in Wall Street, two of the three main indices were also in the green mid -session against a background in long bond yields and a favorable court decision to alphabet.

In Paris, the CAC 40 finished on a gain of 0.86% to 7,719.71 points, supported by the luxury compartment, whose index in Europe increased by 0.85 in the aftermath of the recommendation changes on Kering and LVMH. The British Footsie advanced 0.67% and the German Dax increased by 0.48%.

The Eurostoxx 50 index won 0.64%, the FTSEUROFirst 300 0.68% and the STOXX 600 0.66% the day after 1.47%, the largest in one session for more than a month for the latter index.

At the time of the fence in Europe, the Dow Jones fell 0.43%, but the Standard & Poor’s 500 wins 0.27% and the NASDAQ 0.84% ​​with the support of the technological sector (+0.62%).

Alphabet jumped 8.23% and Apple by 2.79% while American justice decided Tuesday evening that Google’s parent company, which has a partnership in internet search engines with the iPhone manufacturer, will not have to yield its Chrome browser, as claimed by the antitrust authorities. Google will however have to share data with its competitors.

This decision also benefited the European sector of new technologies which ended up on a gain of 0.85%.

The lull at closing in sovereign bond yields, which had record levels Tuesday and Wednesday morning against the backdrop of budgetary concerns around the world, allowed the equity markets to breathe.

Values ​​in Europe

In Paris, Derichebourg plunged 10.40% after lowering its objective of Ebitda for this year due to the economic context, while Valneva climbed 10.06% in favor of positive data for its candidate vaccine against Lyme.

In the rest of Europe, Swiss Life fell 1.21%, the insurer having published a declining net profit in the first half, while Adidas advanced by 4.81%, Jefferies having gone to “keep” to “buy” on the sports supplier.

The indicators of the day

The number of job offers in the United States has decreased in July more strongly than expected, to 7.181 million against 7.357 million in June, according to data published by the American Labor Department.

Industry orders in the United States were still contracted in July but this decline is less marked than in June, while the decline in sustainable goods has continued.

PMIs showed Wednesday that the activity of the private sector in the euro zone had increased at a low rate in August with a composite index at 51.0 against 50.9 in July.

In Great Britain, the composite PMI reached its highest level in 12 months, at 53.5, against 51.5 in July.

Production prices in the euro zone increased more than expected in July, by 0.4% over a month and 0.2% over one year.

Changes

The dollar gives in Wednesday 0.34% against a basket of international currencies after a gain of 0.66% on Tuesday.

The euro advances 0.31%, to 1.1675 dollars, after a drop of 0.60% the day before.

The Sterling book, which lost 1.5%on Tuesday, bounces 0.43%, to 1.3449%.

RATE

The yield of the ten -year -old American treasure bills fell from 6.2 basic points (PB) to 4.2149%, while 30 years declines seven PB, to 4.9009%after having crossed the very monitored threshold of 5%in the morning.

That of the German Bund at ten years has sold approximately five base points (PB), to 2.7415%, and that at 30 years, 5.5 pb, to 3.3606%, after having both climb to 2.80%and 3.43%respectively.

In France, the OAT at ten years also abandoned five bp, 3.541% and 30 years 5.4 pb, at 4.45%, after climbing respectively in session up to 3.601% and 4.523%.

The yield gap between the Bund and the OAT at ten years old remained above 80 basic points, even affecting 81.12 bp in session, five days of a vote of confidence likely to bring down the government of François Bayrou, who stretched handed to the National Rally (RN) and the Socialist Party (PS) on Wednesday.

OIL

The oil market is affected by a probable increase in OPEC+ production on Sunday, with regard to the information reported by close sources.

The Brent refused 2.18% to 67.63 dollars per barrel and the American light crude (West Texas Intermediate, WTI) drops from 1.94% to 64.33 dollars.

(Written by Claude Chendjou, edited by Kate Entringer)

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