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France Media Agency
Around 5:15 a.m., Frankfurt gained 0.27%, Paris 0.39%, Milan 1.17% and London 0.41%.
“In the euro zone, equity indices are showing solidity despite the reconfigurations confirmed in Italy or even potential (France, Germany?) In the large countries”, observes Tangi Le Liboux, analyst at Aurel BGC.
In Asia, the Tokyo Stock Exchange finished slightly higher (+ 0.17%). The Hong Kong Stock Exchange gained 0.3% and Shanghai fell 1% despite record year-over-year increases in industrial production and retail sales in China in the first two months of the year.
On Wall Street, the Dow Jones Industrial Average as well as the broader S&P 500 index ended with record highs on Friday. The NASDAQ, on the other hand, fell 0.59% against the backdrop of rising bond yields.
No decision is expected from the meeting of the Monetary Committee of the US Central Bank (Fed) on Tuesday and Wednesday, the Fed not intending to tighten its monetary policy until full employment returns and inflation will not have exceeded 2%.
But “the market will particularly want to know how far the central bank will let yields on the bond market go up,” said Christopher Dembik, associate director at Berenberg.
After the promulgation of a colossal stimulus package last week in the United States, US yields continued to climb, the prospect of higher growth raising fears of a revival in inflation.
The 10-year rate on US government bonds thus reached its highest level since February 2020, at 1.6405%.
On Monday morning, sovereign bond rates eased in both the euro zone and the United States, where the ten-year rate fell to 1.62%.
“Inflationary fears will probably be the main theme on the markets throughout the year,” believes Mr. Le Liboux.
Astrazeneca stagnates
The pharmaceutical title was stagnant (+ 0.03% to 6,953.00 pence) while disappointments accumulate for the group’s anti-COVID-19 vaccine, which is suffering delivery delays and whose use is suspended in several countries in Europe due to doubts about side effects.
Flutter flirts with the stock market
Betting and gambling group Flutter climbed (+ 7.5% to 16,980.00 pence) after indicating that it was considering listing a small portion of the shares of its US sports betting subsidiary FanDuel on the stock market.
Faber dismissed from Danone presidency
The Danone title dominated the CAC 40, rising 4.34% to 60.64 euros, after the announcement of the ousting of the boss of the agri-food group, Emmanuel Faber, targeted by a sling of shareholders opposed to his strategy.
Volkswagen launches job-cutting plan
The title gained 2.96% to 195.86 after the announcement of a plan to cut jobs not quantified but which could concern up to 5,000 jobs by the end of 2023 as part of a reduction in costs intended to finance the transition to electricity.
On the currency, oil and bitcoin side
At around 5:15 a.m., a barrel of Brent from the North Sea for delivery in May was worth $ 69.76 in London, up 0.78% from the previous day’s close.
In New York, WTI’s US barrel for April rose 0.82% to $ 66.15.
At the same time, the euro fell 0.15% against the dollar, to 1.1929 dollars.
Bitcoin fell 4.69% to $ 57,435 after crossing the $ 60,000 mark for the first time in its history on Saturday, boosted, according to analysts, by the US stimulus plan.
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