POINT MARKETS-Drop in sight in Europe with new tariffs

        * The hesitant European stock markets expected
    * Trade hostilities resumed this weekend
    * US markets closed for Labor Day

    by Patrick Vignal
    PARIS, September 2 (Reuters) - The main European stock exchanges are
expected cautious Monday with the resumption of hostilities between the United States and
China on the trade.
    According to the first indications available, the Paris CAC 40 index
 .FCHI and Dax in Frankfurt .GDAXI would each decline by approximately 0.15% to
the opening while the FTSE in London .FTSE would progress by 0.1%.
    The United States and China began Sunday morning to collect
new customs duties on their mutual imports, marking a
escalation in the trade dispute between them for a year and
half.
    Donald Trump however assured that a meeting between delegations of the two
country was still scheduled for September.
    On his Twitter account, the US president also reaffirmed
Sunday that his goal was to reduce US dependency
vis-à-vis China and he again invited American companies to
find other sources of supply.
    The new episode of the trade war declared to China by Donald
Trump in March 2018 began with Beijing raising its taxes on
about $ 75 billion in US imports, 5% or 10% in
function of the products. For the first time since the beginning of the conflict, the
US crude oil is among the taxed products.
    These new tariffs cover more than 1,700 US products,
out of a total of about 5,000 products covered. The rest of the products will be surcharged
by Beijing on December 15th.
    For their part, the United States now receives 15% of customs duties
on more than 125 billion dollars of Chinese products. Among these products
include connected watches, Bluetooth headsets and many products
clothing.
    "We do not want to be the servants of China!" Donald said
Trump. "It's a question of American freedom.
supply. There is no reason to buy everything from China. "
    The trend in Europe could change after publication in the morning
monthly surveys of Purchasing Managers (PMI) on the activity of the
manufacturing sector, which contracted in Japan in August but on the other hand
progressed unexpectedly in China.
    
    VALUES TO FOLLOW:
    
    A WALL STREET
    The New York Stock Exchange finished down Friday a long session
indecisive, prudence having prevailed before a weekend of three days
during which time the United States has raised its tariffs on
thousands of Chinese products imported. US markets are closed Monday
for Labor Day.
    
    IN ASIA
    The Tokyo Stock Exchange .N225 fell by 0.35% as the close of the close.
    The MSCI index of Asia Pacific stocks (excluding Japan)
 .MIAPJ0000PUS loses 0.3%.
    The Hong Kong Stock Exchange .HSI loses 0.5% after a new weekend of
anti-government demonstrations. The index of the main values ​​of China
.CSI300 takes on the other hand 0.5% despite the escalation of
the commercial confrontation with the United States. The announcement of growth in
Chinese manufacturing sector in August is probably for something.
     
    RATE
    In the bond market, which is closed in the United States,
Treasuries at 10 years, at 1.4994%, remains lower than that of 2-year government bonds
years (1.51%), which characterizes the inversion of the yield curve, considered
as a harbinger of the entry of the US economy into recession.
 US10YT = RR US2YT = RR US2US10 = RR
     
    EXCHANGE
    On the currency side, the dollar yields 0.11% against a basket of currencies
reference .DXY and 0.13% against yen JPY =, which plays its role of safe haven
in a climate of risk aversion.
    
    OIL
    Crude prices change little, at 55.12 dollars per barrel for light crude
Texan (WTI) CLc1 and 59.03 dollars for North Sea Brent LCOc1.
         
    MAIN ECONOMIC INDICATORS AT THE AGENDA OF 2 SEPTEMBER:
 COUNTRIES GMT INDICATOR PERIOD CONSENSUS PREVIOUS
 FR 07:50 Markit PMI Index August 51.0 51.0 *
                definitive manufacturer
 From 07h55 Markit PMI index August 43,6 43,6 *
                definitive manufacturer
 EZ 8:00 am PMI Markit August 47.0 47.0 *
                definitive manufacturer
 GB 8:30 am PMI Markit August 48.4 48.0
                manufacturing
 * flash estimate
    
  MARKET SITUATION
  (Some data may show a slight shift)
  STOCK EXCHANGE
 S
 ASIATIQ
 SIU
 Indices Derni Var. Var. YTD
          st point%
                 s
 Nikkei- 20633 -70.7 -0.34 +3.09
 225, 63 4%%
  .N225
 Topix 1506, -5.69 -0.38 +0.81
  .TOPX 17%%
 Hong 25602 -122, -0.47 -0.94
 Kong, 57 16%%
  .HSI
 Taiwan 10608 -9.88 -0.09 -0.96
  .TWII, 17%%
 Seoul 1970, +2.32 +0.12 -3.48
  .KS11 11%%
 Singapo 3081, -25.2 -0.81 +0.41
 ur 30 2%%
  .STI
 Shangha 2917, +30.8 +1.07 +16.9
 ï 13 9% 7%
  .SSEC
 Sydney 6571, -32.8 -0.50 +16.3
  .AXJO 40 0% 8%
 The fence at
 Tokyo: .TFR
                                           
  WALL
 STREET
 CLOSED
  The closing of
 Friday :
 Indices Derni Var. Var. YTD
          st point%
                 s
 Dow 26403 +41.0 +0.16 +13.1
 Jones, 28 3% 9%
  .DJI
 S & P-500 2926, +1.88 +0.06 +16.7
   .SPX 46% 4%
 Nasdaq 7962, -10.5 -0.13 +20.0
  .IXIC 88 1% 1%
 Nasdaq 7691, -11.3 -0.15 +21.5
 100 00 1% 0%
  NDX
                                           
  Detail of the session
 on Wall Street:
  .NFR
 "The Day Ahead" - The point
 on the next meeting at
 Wall Street DAY / US
                                           
  MARKET
 S
 EUROPEE
 NS
 The futures on the CAC 40
  0 # FCE: and on
 the EuroStoxx50 0 # STXE:
                                           
  Values ​​to follow
 in Paris and in Europe
 : WATCH / LFR
  The session
 former :
 Closed Indices Var. Var. YTD
          re point%
                 s
 Eurofir 1493, +10.7 +0.73 +12.1
 st 300 20 5% 5%     
 <.FTEU3                              
 >                                    
 Eurosto 3426, +15,4 +0,45 +14,1
 xx 50 76 3% 7%     
 <.STOXX                              
 50E>                                 
 CAC 40 5480, +30.5 +0.56 +15.8
  .FCHI 48 1% 5%
 Dax 30 11939 +100, +0.85 +13.0       
 <.GDAXI  ,28    40     %      7%     
 >                                    
 FTSE 7207, +22.8 +0.32 +7.12
  .FTSE 18 6%%
 SMI 9895, +57.1 +0.58 +17.4
  .SSMI 65 7% 0%
                                           
  EXCHANGE
 S
          Cours Veill Var. YTD
                 e%
 Euro / Dl 1,098 1,098 -0.01 -4.19
 r 8 9%%
  EUR =
 Dlr / Yen 106.1 106.2 -0.13 -3.73
  JPY = 5% 9%
 Euro / Ye 116.6 116.8 -0.14 -7.57
 n 6 2%%      
                                    
 Dlr / CHF 0.990 0.989 +0.02 +0.90
  CHF = 1 9%%
 Euro / CH 1,088 1,087 +0.06 -3.31
 F 2 6%%      
                                    
 Stg / Dlr 1,216 1,215 +0.03 -4.69
  GBP = 0 6%%
 Index 98.81 98.91 -0.10 + 2.75
 $ 50 60%%
  .DXY
                                           
  RATE
                 Last Var. Spread / Bund
                 er (pts)
                                           
 Bund 10 years -0.70 -0.00
  DE10YT = RR 80 10
 Bund 2 -0.89 +0.02
 years 80 20            
                                   
 OAT 10 -0.39 +0.01 +31.0
 years old 78 20 2      
                                  
 Treasury 10 1,499 +0.00
 years 4 00
  US10YT = RR
 Treasury 2 years 1,510 +0,00
  US2YT = RR 0 00
                                           
                                           
  PETROL
 E
 (in progress Previous Var Var.% YTD
 dollars tooth
 )
 Gross 55.15 55.10 +0.05 +0.09 +20.3
 light% 9%
 US
  CLc1
 Brent 59.03 59.25 -0.22 -0.37 +9.01
  LCOc1%%
                                           
 
 (Edited by Juliette Rouillon)