* European indices should start on a cautious note
* Asian markets hesitant
* USA and China resume negotiations at the highest level
* The chances of an agreement, even partial, difficult to evaluate
PARIS, October 10 (Reuters) - The main European stock exchanges are
expected on a hesitant note Thursday at the opening, investors struggling
to sort through a flow of sometimes contradictory information about
the evolution of trade talks between the United States and China.
According to the first indications available, the CAC 40 in Paris
could begin virtually unchanged while the Dax in Frankfurt
would give up 16 points, just over 0.1%, and the FTSE in London
would give up 11 points (0.15%).
The highest US and Chinese officials in charge of the file of the
commercial war end up in Washington for the first time since late
July for a bargaining session meant to last two days. Wednesday,
Donald Trump spoke of "great chances" to reach an agreement but the tone is
less optimistic in China: under cover of anonymity, a Chinese official
informed of the preparations for the discussions felt that reaching a compromise
would be "not an easy task".
The Hong Kong daily South China Morning Post reported that
Chinese delegation led by Deputy Prime Minister Liu He would leave
Washington on Thursday, after only one day of talks. But in a
tweet, a CNBC reporter later reported that the House
white was unaware of any program changes.
For its part, the New York Times writes that the United States is preparing to
allow some US companies to supply products
"non-sensitive" to Huawei's Chinese network equipment group.
As for the Bloomberg agency, it evokes the will of the White House of
conclude with Beijing a partial agreement on foreign exchange.
China remains under threat of 30% increase in tariffs
about 250 billion products imported into the United States
from the 15th of October.
"There is a lot of information circulating, some negative, others
positive ", summarizes Stuart Oakley, head of currency flow at Nomura in
Singapore. "We will definitely be fixed on the result of all this Tuesday
next at midnight (Washington time) because that's when we'll know if
the next wave of customs duties is applied or postponed. "
VALUES TO FOLLOW:
A WALL STREET
The New York Stock Exchange ended higher Wednesday, supported by the publication
information that China was willing to seal an agreement
partial commercial with the United States.
The Dow Jones index gained 181.97 points, or 0.7%, at 26,346.01, the
Standard & Poor's 500, wider, took 26.43 points, or 0.91%, to
2,919.49 and the Nasdaq Composite rose by 79.96 points, or 1.02%,
at 7,903.74.
Technology stocks have supported the trend, Microsoft
taking 1.89%, Apple + 1.17%. The index of companies related to
semiconductors, particularly exposed to China, ended up
1.74%.
IN ASIA
On the Tokyo Stock Exchange, the trend is irregular: less than an hour from the
closing, the Nikkei index gains 0.27% but the Topix, wider,
gives up 0.15%.
In China, the SSE Composite Shanghai, which started the day in
the red, progresses by 0.3%.
EXCHANGE
The currency market is also struggling to find a fault
clear information on trade negotiations: the "dollar index"
, which measures the fluctuations of the American currency against a basket of
reference, is on the downside (-0.10%), the euro rises above 1.0980
dollar and the yen yields ground.
The Chinese yuan, the most sensitive currency to the evolution of the conflict
market, appreciates against the dollar in the offshore market then
that he had touched at the beginning of the session his lowest level in a month.
RATE
In the US bond market, the bond yields of
reference ended higher on Wednesday, the session was marked by a revival
optimism about trade and the auctioning of 24 billion
ten-year dollars.
At the end of the session, the 10-year Treasuries yielded
4.5 basis points to 1.584%; it falls back to Asia to 1.5785%.
This Thursday's session will be animated by the publication of the report of the
Monetary Policy Meeting of 12 September of the European Central Bank
(ECB), then by the consumer price figures in the United States before a
auction of 30-year treasury bills.
OIL
Crude prices are down slightly, uncertainty on trade
USA-China fueling questions about the evolution of global demand.
Brent drops 0.15% to 58.23 dollars a barrel and light crude
American (West Texas Intermediate, WTI) yields 0.13% to 52.52 dollars.
Doubts over the outcome of the Washington negotiations add to the impact
bearish of more pronounced than expected rise in crude inventories in the United States
last week.
MAIN ECONOMIC INDICATORS AT THE AGENDA OF 10 OCTOBER:
COUNTRIES GMT INDICATOR PERIOD CONSENSUS PREVIOUS
FROM 06h00 Trade balance August + € 19.1bn + € 20.2bn
Exports -1.0% + 0.7%
Imports -0.2% -1.5%
FR 06h45 Industrial production August + 0.3% + 0.3%
GB 08h30 Industrial production August -0.1% + 0.1%
- over one year -0.9% -0.9%
GDP (estimate) inch. + 0.3%
Trade Balance - £ 10.0bn - £ 9.14bn
US 12:30 Registered unemployed sem. to 219,000 219,000
5/10
12:30 pm Consumer price september + 0,1% + 0,1%
- over one year + 1.8% + 1.7%
MARKET SITUATION
(Some data may show a slight shift)
SCHOLARSHIPS
ASIAN
Indices Last Var. Var. % YTD
points
Nikkei-225 21513.57 +57.19 + 0.27% + 7.49%
Topix 1579.31 -2.39 -0.15% + 5.70%
Hong Kong 25757.60 +74.79 + 0.29% -0.34%
Taiwan 10889.96 -127.35 -1.16% + 1.67%
Seoul 2034.71 -11.54 -0.56% -0.31%
Singapore 3084.75 -5.15 -0.17% + 0.52%
Shanghai 2933.54 + 8.69 + 0.30% + 17.63%
Sydney 6547.10 +0.40 + 0.01% + 15.95%
The fence in Tokyo:
WALL
STREET
Fence
previous :
Indices Last Var. Var. % YTD
points
Dow Jones 26346.01 +181.97 + 0.70% + 12.94%
S & P-500 2919.40 + 26.34 + 0.91% + 16.46%
Nasdaq 7903.74 +79.96 + 1.02% + 19.12%
Nasdaq 100 7690.53 +86.26 + 1.13% + 21.49%
Detail of the meeting on Wall
Street:
"The Day Ahead" - Update on
next session on Wall Street
MARKETS
EUROPEAN
Futures on the CAC 40 and on
EuroStoxx50
Values to follow in Paris
and in Europe:
The previous session
:
Indices Closing Var. Var. % YTD
points
Eurofirst 1497.02 +6.91 + 0.46% + 12.44%
300
Eurostoxx 3462.11 +29.35 + 0.85% + 15.35%
50
CAC 40 5499.14 + 42.52 + 0.78% + 16.24%
Dax 30 12094.26 + 124.06 + 1.04% + 14.54%
FTSE 7166.50 +23.35 + 0.33% + 6.52%
SMI 9830.05 +29.81 + 0.30% + 16.62%
EXCHANGE
Course Watch Var. % YTD
Euro / Dlr 1.0985 1.0969 + 0.15% -4.22%
Dlr / Yen 107.50 107.46 + 0.04% -2.50%
Euro / Yen 118.11 117.90 + 0.18% -6.43%
Dlr / CHF 0.9949 0.9956 -0.07% + 1.38%
Euro / CHF 1.0931 1.0925 + 0.05% -2.87%
Stg / Dlr 1.2225 1.2204 + 0.17% -4.17%
Index $ 99,0180 99,1180 -0.10% + 2.96%
RATE
Last Var. Spread / Bund
(Pts)
Bund 10 years -0,5540 +0,0010
Bund 2 years -0.7320 +0.0080
OAT 10 years -0.2545 +0.0110 +29.95
Treasury 10 years 1,5785 -0,0080
Treasury 2 years 1,4616 -0,0120
OIL
(in progress Previous Var Var% YTD
dollars) t
Light crude 52.52 52.59 -0.07 -0.13% + 14.65%
US
Brent 58.23 58.32 -0.09 -0.15% + 7.53%
(Marc Angrand, edited by Jean-Stéphane Brosse)
Source link
https://fr.reuters.com/article/frEuroRpt/idFRL5N26U54P
