The stock markets are looking for a second wind, after the recent acceleration

New York (awp/afp) – Western stock markets struggled to resume their upward path on Monday, lacking information to continue the rise started last week and suffering from the end of the respite on the bond market.

After a higher opening, European stock markets ended divided: London took 0.69% and the Frankfurt Stock Exchange, more down last week, gained 0.52%. Conversely, Paris lost 0.43% and Milan 0.86%. In Zurich, the SMI gained 0.77%.

On Wall Street, the Dow Jones fell 0.20%, the tech-heavy Nasdaq index fell 0.72%, and the broader S&P 500 index lost 0.30%, according to results. definitive.

Conversely, rates on the bond market tightened again in Europe and the United States after the sharp declines of the past week. The interest rate for the US 10-year loan stood at 3.20%, while the German rate for the 10-year loan exceeded 1.5%.

“Most important events for the market are expected from Wednesday,” notes Craig Erlam, analyst at Oanda.

Among them, statements from officials of major Western central banks, the latest US GDP figures, but also inflation indicators in the United States and the euro zone at the end of the week.

“If this week’s inflation data indicates a slowdown, the market may begin to believe that the Federal Reserve has regained control of the situation,” said analyst Neil Wilson.

The hope of a slowdown in inflation, caused by a decline in economic activity which seems increasingly likely, had served as a springboard for the equity markets to rebound at the end of last week.

For Gregori Volokhine, Wall Street was also oriented Monday by the figure for durable goods orders in the United States in May, published Monday, well above expectations, up 0.7% against 0.1% expected.

“Right now, we are looking at all the indications related to inflation or the slowdown in the economy,” he recalled. “But the figures were going in the opposite direction. (…) It reminded us that this economy was not at all in the process of stopping suddenly.”

Oil picks up ___

Oil prices confirmed their upward trend on Monday, in a market now accustomed to the idea of ​​a global economic slowdown and which has refocused on the problem of supply, which is still insufficient.

The price of a barrel of Brent North Sea oil for August delivery climbed 1.74%, to close at $115.09.

The barrel of American West Texas Intermediate (WTI), for delivery the same month, took him 1.81%, to 109.57 dollars.

Gold fell 0.19% to 1,823.38 dollars an ounce, making a reversal during the session. Earlier in the session, it reached $1,840 an ounce following the announcement by US President Joe Biden and British Prime Minister Boris Johnson of an embargo on Russian gold imports.

Prosus wants to sell Tencent and climbs ___

The Dutch investment fund specializing in technology Prosus soared 15.72% after its results, on the sidelines of which it announced the sale of part of its stake in the Chinese Tencent (internet and mobile services) to finance a program share buybacks.

The less dashing tech ___

Winners last week, tech stocks suffered a little from the rise in rates, which weigh on their investments and the valuation of their future profits.

Amazon dropped 2.78%, Alphabet 1.62%, and PayPal 2.24%. Dassault Systèmes lost 0.85% in Paris

On the side of currencies and bitcoin ___

The euro rose 0.27% to 1.0582 dollars around 3:45 p.m. GMT.

Bitcoin fell 2.09% to $20,910.


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