End of session in scattered order in Europe, records on Wall Street – archyde

PARIS (Reuters) – European stock markets ended in disarray on Tuesday, torn between the progression of Wall Street and lingering uncertainties surrounding the course of the coronavirus pandemic and the Federal Reserve

In Paris, the CAC 40 lost 0.28% to 6,664.31 points. The British Footsie gained 0.24% and the German Dax gained 0.33%.

The EuroStoxx 50 index gained 0.04%, the FTSEurofirst 300 fell 0.04% and the Stoxx 600 fell 0.02%.

At the time of the close in Europe, Wall Street was moving higher, with the S & P-500 and the Nasdaq Composite reaching new highs thanks to stocks in the oil industry and travel sector. The Dow Jones gained 0.2%, the S & P-500 0.23%, and the Nasdaq 0.5%.

The progress of the US market, where optimism on the progress of vaccination takes precedence over fears related to the economic slowdown, allowed European stock markets to move away from their lows of the day.

But the trend remained cautious pending the Jackson Hole online symposium on Friday in which Federal Reserve Chairman Jerome Powell could provide insight into the institution’s monetary policy development and implications. of COVID-19 on economic growth.

VALUES

At the sectoral level in Europe, the Stoxx index of basic resources (+ 1.98%) posted the largest increase, just ahead of that of transport and leisure (+ 1.96%), boosted by the final validation by the States United of Pfizer-BioNTech’s COVID-19 vaccine.

TUI, easyJet, Carnival and Air France-KLM gained between 4.65% and 5.58%.

Glencore, Anglo American and Rio Tinto gained 2.58% and 2.97%.

The CAC 40 was penalized by the drop in stocks which had risen sharply the day before, namely LVMH (-1.93%) and Hermès (-1.57%).

Novartis lost 1.69% after a failed Phase III treatment for cancer of the lymphatic system.

THE DAY INDICATOR

Germany’s gross domestic product (GDP), which returned to economic growth in the second quarter, grew more than expected over the period, by 1.6% against an increase of 1.5% announced in the first estimate.

RATE

Trending up in early trading, benchmark government bond yields in Europe ended stable at -0.477% for the ten-year German Bund.

On the US market, the yield on ten-year Treasuries gained two basis points to 1.2768%.

CHANGES

The dollar stabilizes against a basket of international currencies, after falling 0.6% on Monday and the euro is trading at $ 1.1744.

The New Zealand dollar climbs 1% against the greenback after the deputy governor of the Reserve Bank of New Zealand (RBNZ) said its members seriously considered a 50 basis point rate hike during the meeting last week before opting for the status quo.

OIL

Hopes over vaccination in the United States, the drop in crude production in Mexico following a fire at an oil rig and the lack of locally-originated cases of COVID-19 in China are the cause of the progression of the oil market.

The barrel of Brent gained 2.68% to 70.59 dollars and that of US light crude rose 2.35% to 67.18 dollars.

(Laetitia Volga, edited by Marc Angrand)