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European stock markets ended in the red on Wednesday, investors being depressed by a new salvo in the trade war between the United States and China, just like Wall Street at midday.
The New York Stock Exchange declined at 12:15 GMT, the Dow Jones Industrial Average lost 0.78% to 24,724.62 points, the Nasdaq 0.64% to 7.709.48 points, and the S & P 500 expanded index 0.70%, at 2,774.42 points. After four consecutive increases, worries about the US-China trade war resurfaced. The US administration has prepared Tuesday an additional list of Chinese products imported from the amount of $ 200 billion per year that it threatens to tax in September. "Markets are once again worried about escalating sanctions," said Emily Roland, head of financial research at John Hanbad.
The Eurostoxx 50 fell by 1.47%
In Paris, the CAC 40 fell by 1.48%, or 80.43 points, to 5,353.93 points, in a trade volume of 3 , 6 billion euros. The day before, it ended up 0.67%. In terms of values, Carrefour was penalized (-4.87% to 13.59 euros) by a lowering of its price target by Barclays. Bénéteau fell 20.59% to 12.96 euros after having lowered its targets for 2018. Amoeba rose 58.54% to 5.66 euros, after the announcement of positive results on a biocide biological. The Frankfurt Dax Index finished down 1.53%. The leading index fell by 192.72 points to finish at 12,417.13 points. The MDax average values, meanwhile, fell 0.87% to 26,139.75 points. Thyssenkrupp recorded the biggest drop: -4.72% to 20.63 euros. The automotive sector remained under tension (Volkswagen -2.16% to 142.82 euros, Daimler -2.01% to 57.18 euros and BMW -1.42% to 78.87 euros). Bayer slipped 2.36% to 92.40 euros.
The London Stock Exchange ended on a sharp decline of 1.30%. At closing, the FTSE-100 index of major stocks lost 100.08 points to 7,591.96 points. Mining companies have been very affected by this crescendo of commercial hostilities. Glencore lost 4.83% at 311.15 pence, Anglo American 3.93% at 1,655.20 pence, Rio Tinto 2.99% at 4,022.00 pence, Antofagasta 3.14% at 939.00 pence and BHP Biliton 3.10% at 1,654.60 pence. The semiconductor manufacturer Micro Focus suffered the biggest loss of the day, plunging 9.17% to 1,184.00 pence, after its results. Burberry fell 4.05% to 2,016.00 pence after a quarterly report. The Milan Stock Exchange ended sharply lower, with the FTSE Mib leading index losing 1.58% to 21,708 points. Campari (+ 1.31% to 7.36 euros) and Leonardo (+ 0.40% to 8.614 euros) end up in the green. On the other hand, CNH Industrial sold 4.92% to 8.7 euros, Banca Mediolanum 3.70% to 5.72 euros, Tenaris 3.40% to 15.93 euros and Exor 3.28% to 56.6 euros . The Madrid Stock Exchange also ended at half-mast, with a 1.57% drop in the Ibex-35 index to 9,733.6 points. The session was tough for the banks, with falls of 2.28% to 4.64 euros for Banco Santander, 2.69% to 6.05 euros for BBVA and 3.60% to 1.42 euros for Banco de Sabadell. Steelmaker Acerinox lost 3.03% to 11.19 euros. In construction, ACS sold 2.35% to 35.70 euros and Ferrovial 1.25% to 17.71 euros. The PSI 20 index of the Lisbon Stock Exchange fell 0.4% to 5,636.79 points. The bank BCP gained 0.27% to 0.26 euro. Galp Energia lost 1.48% to 17.01 euros. For their part, EDP and its subsidiary EDP Renovaveis finished at + 0.43% to 3.51 euros, and -0.88% to 9.01 euros, respectively. Distributor Jeronimo Martins finished slightly up 0.12% to 12.71 euros. The AEX index of the Amsterdam Stock Exchange closed down 1.31% to 553.25 points. On the downside, the steel maker Arcelor Mittal lost 3.68% to 24.73 euros and the oil giant RD Shell has 2.23% to 29.80 euros. On the upside, the brewer Heineken gained 0.68% to 88.34 euros and publisher RELX 0.48% to 18.69 euros. The Brussels Stock Exchange lost 0.62%, the Bel-20 index of star stocks ending the session at 3,779.78 points.
Fourteen star stocks ended in the red, the sharpest decline being recorded by the Aperam steel group (-3.12% to 36.70 euros). At the other end of the index, the Telenet operator jumped 5.15% to 44.52 euros. On the Swiss stock exchange, the SMI index of core securities dropped 0.89% to 8,690.98 points.
Aside from Nestlé (+ 0.08% to 79.52 CHF) and Givaudan (+ 0.25%) at CHF 2,371.00), all the index values ended in the red.
The biggest fall came from Richemont, number two in the world of luxury (-2.07% to CHF 83.38), which led the Swatch Group in its wake (-1.80% to CHF 457.50).
Wall Street Affected by Tensions
Wall Street ended down on Wednesday, affected by a new US administration attack against China on the trade front, reviving the specter of an economic war between the two countries
According to final results at closing, its flagship index, the Dow Jones Industrial Average, dropped 0.88% to 24,700.45 points.
The Nasdaq, with a strong technological component, lost 0, 55% to 7,716.61 points.
The expanded S & P 500 index dropped 0.71% to 2,774.02 points. The US administration again struck Tuesday in the trade war against China by drawing up an additional list of Chinese products imported in the amount of $ 200 billion per year that they threaten to tax as early as September. 19659002] "The fear of the markets is that this trade war will continue and lead to global economic disruption," said Ken Berman of Gorilla Trade.
Especially since Donald Trump could not stop there since the US president had said he could tax more than $ 200 billion in additional imports.
In total, taxes could apply to more than 450 billion Chinese imports to the United States. These together accounted for $ 505 billion in 2017 and the balance of trade between the two countries was reflected last year by a deficit of $ 375 billion at the expense of Washington.
Without recovery of negotiations between the two countries, "a further escalation of tensions seems inevitable," said economists Oxford Economics.
Company Results
Particularly sensitive to trade fears of war, the international Boeing and Caterpillar groups lost 1.89% and 3.18% respectively. Chinese companies listed in the United States also suffered, the Alibaba group giving up 2.65% and JD.com 1.66%. "It will be very interesting to see the impact of these fears on business results this week," said Emily Roland, head of financial research at John Hanbad.
Quarterly results, including Optimistic prospects have sparked the markets' enthusiasm since the beginning of the week, will actually start Friday with the US big names accounts of the bank. In terms of indicators, US producer prices rose more than expected in June, driven mainly by the service sector with significant margins in retail sales of fuels, said Wednesday the Department of Labor. The bond market was easing: the yield on the US 10-year debt declined to 2.838%, against 2.849% Tuesday at the close, and the 30-year fell to 2.937%, against 2.956% at the previous closing. Among the other values of the day, American Airlines has dropped significantly (-8.08% to 35.96 dollars) after a reduction in its forecast of revenue growth by seat and miles traveled (TRASM), due to weaknesses in the US domestic market. His competitor Delta (-1.50% to 49.84 dollars) must present its results Thursday. The Fox group (-3.98% to 47.79 dollars) of the Murdoch family has increased on an offer of Comcast (+ 1.29% to 33.77 dollars) to buy the British television company Sky, new episode a battle on both sides of the Atlantic between giants of a sector in upheaval. The pharmaceutical giant Pfizer fell (-0.59% to 37.21 dollars) after confirming Tuesday the postponement of the rise in prices of certain drugs, following a conversation of the group CEO with US President Donald Trump . The latter was indignant Monday on Twitter of these increases ..
Ilyas A.
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