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by Blandine Henault
PARIS (Reuters) – European stock markets are down in mid-session and Wall Street is expected on the same trend, initiatives being limited in the market before a busy week on the market. front of the publication of results and the negotiations on the trade, while the uncertainties on the monetary policies animate the market of currencies and rates.
In Paris, the CAC 40 folds of 0.61% with 5,365,39 points around 10:45 GMT. In Frankfurt, the Dax dropped 0.38% and in London, the FTSE fell by 0.41%.
The pan-European FTSEurofirst 300 index fell by 0.27%, the EuroStoxx 50 of the euro zone yielded 0.4% and the Stoxx 600 lost 0.24%.
On Wall Street, New York index futures signal an opening down by around 0.1% for the Dow Jones and S & P 500 and 0.4% for the Nasdaq 100.
Concerns about a possible escalation in the trade dispute between the United States and their trading partners remain very much alive. Especially after Friday's statements by Donald Trump about taxes of up to $ 500 billion on Chinese products and exchange rate manipulation by China and the European Union.
Investors are now waiting for Wednesday's meeting in Washington between the President of the European Commission and Donald Trump to discuss trade relations.
Jean-Claude Juncker should notably try to persuade the US president to give up his threat of taxing imports of European cars, but the task looks daunting.
These trade tensions are felt on the sectors concerned, like the automobile (-0,93%), the basic resources (-0,56% ) and technology (-0.71%).
THE BOJ COULD CHANGE ITS POLICY
The automobile sector is also held back by the decline of Fiat Chrysler (-2.92%) and Ferrari (-4.26%) after the announcement of the hurried departure of Sergio Marchionne for health reasons.
In Paris, Atos falls by 7.27%, red lantern of the CAC 40 and Stoxx 600, the half-year results deemed disappointing having eclipsed the rather positive effect of the acquisition by the French software company Syntel's
Ryanair drops 4.53% after warning of a drop in its rates this summer and announces a 20% decline in its profit in the first quarter, closed at the end of June, of its fiscal year
Investors will face this week a veritable avalanche of results in both the United States and Europe. The internet giant Alphabet will publish this Monday after the closing on Wall Street, before the announcements of LMVH and PSA on Tuesday in pre-market Paris.
On the foreign exchange market, the yen advance of 0.23% face to the dollar, following, among other things, reports that the Bank of Japan (BoJ) would discuss possible changes in its monetary policy.
The BoJ could adjust its rate targets and purchase of shares and arrange for its quantitative easing (QE) program to be more manageable, sources told Reuters on Friday.
This information also brought the performance of Japanese government bonds to 10 years to a high of six months, which has boosted the performance of the German Bund of the same maturity to a high of a month.
Meanwhile, the dollar is virtually unchanged against a basket of reference currencies, still penalized by the criticism of Donald Trump against the monetary tightening of the Federal Reserve.
These presidential statements also favored Friday a 10-year US bond yield returns, with traders imagining that it could prompt Jerome Powell, the Fed's president, to look twice before continuing the rate hike cycle, which would likely have the effect of
However, the 10-year US yield eased a little Monday, around 2.8876%.
For its part, the euro falls back on the threshold of 1.17 to a few days of the monetary policy meeting of the European Central Bank (ECB) which could specify the timing of its first rate increase next year.
crude return ahead Monday and gain more than 1%, after falling sharply last week because of fears over a supply oversupply and trade tensions.
(Edited by Patrick Vignal)
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