The main European stock markets rose frankly on Monday at the start of the session, the hope of a treatment of the coronavirus giving a little optimism to investors still concerned by the health situation and by signs of slowing down of the economic rebound.
Paris, the CAC 40 index takes 1.79% 4.983.82 points around 07:30 GMT. Frankfurt, the Dax gained 1.56% and London, the FTSE rose 1.41%.
The EuroStoxx 50 index of the euro zone is up 1.62%, the FTSEurofirst 300 by 1.22% and the Stoxx 600 by 1.36%.
The Food & Drug Administration (FDA) on Sunday approved the emergency use of blood plasma from patients who have recovered from COVID-19 to treat sick people.
This decision by the American regulator came the day after Donald Trump’s criticism of the FDA, which he accused of blocking the implementation of treatments for political reasons.
The American president does not leave the news since this Monday opens the investiture convention of the Republican Party, new stage of the campaign for the presidential election of November dominated until now by the health crisis.
Equity markets, whose rebound last week showed signs of weakness, will not have a major indicator in their mouths during a session that promises to be calm.
One of the events of the week will be the “virtual” meeting of central bankers organized by the Kansas City branch of the Federal Reserve to replace the Jackson Hole symposium. It will open on Thursday with a much-anticipated intervention from Fed Chairman Jerome Powell.
VALUES IN EUROPE
All European sector indices rose sharply at the start of the session with marked progress for cyclical compartments such as basic resources (+ 1.75%) and automotive (+ 1.47%) but also for technology (+2 , 01%), still very much in sight on Friday Wall Street.
The biggest increase of a CAC 40 entirely in the green is for STMicroelectronics which takes 3.58%.
Elsewhere in Europe, BT jumped by more than 7% in London on reports of an attempted takeover of the British telecommunications operator.
IN ASIA
The Tokyo Stock Exchange ended up 0.28% and the CSI 300 index of mainland Chinese stocks rose 0.8%.
A WALL STREET
The New York Stock Exchange finished higher on Friday with closing records for the S & P-500 and the Nasdaq, Wall Street hailing indicators deemed reassuring for the recovery of the economy.
The Dow Jones index gained 190.6 points, or 0.69%, 27,930.33 points.
The larger Standard & Poor’s 500 gained 11.65 points, or 0.34%, 3,397.16 points, a new closing high.
The Nasdaq Composite for its part rose 46.85 points (0.42%) to 11,311.80, also a record.
Apple supported the indices by enchanting a fourth consecutive session of increase with a gain of 5.15%. The title has taken 8.24% over the whole of last week and now exceeds $ 2.1 trillion in capitalization.
Futures contracts are currently showing an opening up 0.5% 0.6%.
CHANGES / RATES
On the currency side, the dollar lost ground against a basket of benchmark currencies and the euro took the opportunity to rise above $ 1.18.
On the bond market, the yield on 10-year government bonds lost 1 basis point 0.63%. In the first exchanges in Europe, the Bund of the same chance, the benchmark rate for the euro zone, fluctuates little -0.5%.
PTROLE
The two benchmark crude contracts are trending slightly upward, at $ 44.55 per barrel for Brent and $ 42.5 for US light crude (West Texas Intermediate, WTI).
(said by Jean-Philippe Lefief)
by Patrick Vignal
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