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by Laetitia Volga
PARIS (Reuters) – The main European stock markets retreated sharply on Friday, the decision taken by the United Kingdom to institute a “fortnight” for all travelers from France and the Netherlands and poor Chinese economic indicators reviving fears on the pace of economic recovery.
France, where the evolution of the epidemic is worsening, said it regrets the British choice and will adopt a similar measure in the name of the rule of reciprocity.
These announcements penalize groups linked to leisure and transport, already severely affected by the pandemic.
Paris, the CAC 40 index ced 2.02% 4,940.6 points around 08:25 GMT. Frankfurt, the Dax drops 1.25% and London, the FTSE drops 1.93%.
The EuroStoxx 50 index for the euro zone lost 1.72%, the FTSEurofirst 300 fell 1.49% and the Stoxx 600 fell 1.64%.
At the same time, economic news from China must: retail sales there fell by 1.1% over one year in July when they were expected to rise by 0.1% and industrial production also came out below. expectations, up by 4.8% only while the consensus expected + 5.1%. Figures which underline the fragility of the rebound of the second world economy.
Among the other indicators of the day, one awaits the publication 09:00 GMT of the second estimate of the GDP of the whole of the euro zone in the second quarter then, 12:30 GMT, the monthly statistics of the retail sales in the United States.
VALUES
The Stoxx index of the transport and leisure sector lost 3.05%, the largest drop in Europe, after the British decision to impose a quarantine on travelers coming from France and the Netherlands.
“This decision will result in a large number of cancellations at the height of the summer holiday season for one of the top destinations for UK tourists,” said Neil Wilson at CMC Markets.
In individual terms, the Franco-Dutch company Air France-KLM lost 5.38%. The British Ryanair, British Airways and EasyJet are down 4.83% 7.66%. Lufthansa sells 4.12% Frankfurt.
Tour operator TUI fell 6.01%.
The airport manager ADP gives up 2.30% and Getlink, concessionaire of the Channel tunnel, 3.99 %%.
Unibail-Rodamco-Westfield shows the biggest drop in the CAC (-3.74%) and the Accor hotel group drops 7.17%.
IN ASIA
On the Tokyo Stock Exchange, the Nikkei index ended the day up 0.17%.
After a moment of decline, Chinese markets ended in the green, the poor statistics of the day having rekindled hopes of further stimulus measures. Investors have also already begun to focus their attention on the balance sheet meeting, scheduled for Saturday, between senior US and Chinese representatives on the implementation of the “phase one” trade agreement.
The large-cap CSI300 gained 1.5% and the Shanghai Composte index 1.2%.
Kospi in South Korea dropped 1.23%, with the country posting a daily record for new local cases of coronavirus infections.
A WALL STREET
The New York Stock Exchange ended in dispersed order on Thursday, with the S&P 500 (-0.2%) and Dow Jones (-0.29%) indexes falling slightly amid disappointing forecasts from Cisco Systems (-11.2%). ) while the Nasdaq took 0.27%, ported by Apple. [.NFR]
The group the apple, which prepares according to the Bloomberg agency a group offer bringing together several of its services, like Apple TV or Apple Music, a monthly price lower than the sum of the separate subscriptions, gained 1.77% 460 dollars a share.
The drop in weekly jobless registrations, which have returned below the million mark for the first time since the start of the health crisis, has also limited the bearish orientation of Wall Street.
RATE
The resurgence of risk aversion pushed the yield on 10-year Treasuries down by more than two basis points, which returned 0.6931% after reaching the highest level since June 24, 0.727%, the previous day, in response to demand. relatively low generated by a 30-year auction.
The ten-year German Bund yield was stable -0.417%.
CHANGES
The variations are limited on the foreign exchange market: the dollar fell by 0.04% against a benchmark basket and the euro hovered around 1.1802 dollars (-0.08%).
PTROLE
Oil prices have turned down the opening of the European stock markets. A barrel of Brent fell 0.69% 44.65 dollars and that of US light crude 0.69% 41.95 dollars.
(Laetitia Volga, said by Jean-Stphane Brosse)
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