Around 2:20 p.m., Paris hovered around equilibrium (-0.08%), Frankfurt gave up 0.32% while Milan took 0.34%. In Zurich, the SMI yielded 0.28%.
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The European stock markets continued to move in divergent directions and without much conviction Monday at mid-session, the market being rendered sluggish by the closure of the places of London and New York due to a public holiday.
Around 12:20 GMT, Paris hovered around the equilibrium (-0.08%), Frankfurt gave up 0.32% while Milan took 0.34%. In Zurich, the SMI yielded 0.28%.
The London Stock Exchange is closed on Monday due to Spring Bank Holiday, as is the New York Stock Exchange, which celebrates Memorial Day. Friday, Wall Street had ended up slightly.
In Asia, the Tokyo Stock Exchange closed at half mast (-0.99%) on a background of profit taking. The Hong Kong Stock Exchange fell (-0.2%) while that of Shanghai rose (+ 0.4%).
“The markets remain well oriented even if, the more we advance in the recovery of the world economy, the more hesitations should appear, especially if the risks of a resurgence of higher inflation, particularly in the United States , are pushing for a faster change in the monetary policies in place today ”, underlines Sebastian Paris Horvitz, analyst at LBPAM.
In Germany, the rise in consumer prices accelerated further in May, to 2.5% over one year, driven by the persistent surge in energy prices, according to provisional figures published by the Federal Statistical Office (Destatis).
The OECD also raised its global growth forecasts for 2021 (to 5.8%) and 2022 (to 4.4%) on Monday, while warning against a relapse of the economy due to the persistence of “Headwinds”.
“The surge in inflation observed today in the United States and to a lesser degree in Europe is very likely transitory and unsustainable, and therefore it should not reveal any visible rise in interest rates”, judge for his says Patrick Artus, Natixis’ chief economist.
A view also fueled “by repeated statements by US central bankers,” abounds Mr. Horvitz, and which investors seem to have rallied, judging by the decline in borrowing rates that followed the publication of figures on Friday. American inflation, however, rose sharply.
On Monday, European borrowing rates were showing a very slight increase.
As for the rest of the indicators, growth in loans granted by euro-zone banks to businesses continued to slow in April, while it again accelerated on the household side, according to the European Central Bank.
Deutsche Bank pinned by the Fed
Several media claim that the US Federal Reserve has criticized in recent weeks the first German bank, relegated to the tail of the Dax (-1.41% to 12.17 euros), for not having sufficiently remedied the persistent shortcomings in its anti -bleaching. The bank declined to comment.
Adidas and Chelsea FC claim victory
The group seemed to benefit (+ 0.38% to 300.50 euros) from Chelsea’s victory in the Champions League on Saturday, dressed by the three-stripe brand.
Well oriented raw materials
In Paris, commodity-related securities were on the rise, like Eramet (+ 2.20% to 60.50 euros), CGG (+ 1.63% to 0.88 euros), ArcelorMittal (+ 1.59% to 26.92 euros) or Aperam (+ 1.50% to 45.90 euros).
On the oil, euro and bitcoin side
Crude prices started the week higher, with investors expecting OPEC + members to keep their policy of gradually increasing black gold production unchanged after their peak on Tuesday.
Around 12:20 GMT, a barrel of Brent from the North Sea for delivery in August, which is the first day of use as a benchmark contract, was worth $ 69.61 in London, up 1.30% from at the close of Friday.
In New York, a barrel of WTI for delivery in July gained 1.37% to 67.23 dollars.
The euro stabilized (+ 0.04%) against the greenback, at 1.2200 dollars.
Bitcoin took 3.20% to $ 37,194.
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