(Paris) European stock markets move without much movement on Tuesday in the absence of leading economic indicators and American investors on the holiday of the Declaration of Independence of the United States.
Paris fell by 0.03%, Frankfurt by 0.16% and London took 0.12% around 7:55 a.m. (Eastern time).
The interest rates of European states rose again a little. That of the French 10-year loan again exceeded 3% (3.01%).
“European equities are struggling to orient themselves in a light economic calendar and on low volumes, with US markets closed for Independence Day,” observed Fiona Cincotta, analyst at City Index.
But the pause won’t last long and the analyst “expects volumes to pick up” by Friday and the monthly US jobs report.
In Asia, Tokyo fell (-0.98%) after its net gains the day before. Shanghai ended flat (0.04%) and Hong Kong up 0.57%.
On Tuesday, the Australian central bank left its key rate unchanged. Its Governor Philip Lowe said that while “the peak of inflation had passed”, the economic outlook remained uncertain.
China announced on Monday the imposition from next month of restrictions on exports of two rare metals of which the Asian giant is the main producer and essential for semiconductors.
“The two largest economies have been locked in an economic and trade cold war since 2018,” which now affects “production and obtaining technological know-how” including semiconductor chips, recalls Kelvin Wong , Oanda analyst.
In Japan, manufacturers of industrial equipment advanced, such as Advantest (0.59%) and Taiwan Semiconductor (1.04%).
In Europe, after a favorable start to the session, STMicroelectronics fell by 0.42%, Infineon by 0.77% and ASMI by 0.05%.
The French distributor Casino, in difficulty, announced on Tuesday that it had received two rival offers to bail it out from groups led by billionaires, big names in the business world who promised to bring it fresh money.
The stock, which had lost almost 50% of its value last week, rebounded 16.22% before being suspended at the company’s request, until the publication of a press release.
UK supermarket chain Sainsbury’s fell 1.49% after news that food inflation is beginning to ease and despite reporting first quarter sales (excluding fuel) up 9.2% shifted.
Oil prices rose again on Tuesday at midday without completely erasing their losses from the previous day.
A barrel of Brent North Sea oil, for September delivery, rose 1.52% to $75.79 around 7:40 a.m. EST.
Its American equivalent, a barrel of West Texas Intermediate (WTI) for August delivery, gained 1.66% to 70.95 dollars.
Around 7:50 a.m. (Eastern time), the greenback was advancing (0.09%) against the euro, at 1.0902 dollars for one euro.