The Eurostoxx ends on a rise of 0.69%.
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European stock markets continued to advance on Thursday, buoyed by lower Chinese taxes on US imports and solid economic statistics in the United States, as fears over the coronavirus fade in the markets.
“The stock markets are still on the rise as investors are less worried about the coronavirus epidemic,” said David Madden, an analyst at CMC Markets, for whom “morale is buoyed by Chinese tariff cuts.”
China announced on Thursday that it will cut punitive tariffs in half on US products worth $ 75 billion (68 billion euros) in annual imports.
This measure, which will come into force on February 14, will cover customs surcharges applied since September 1, said the Chinese government’s customs duties commission.
Beijing “must find ways to provide some relief to its economy as it faces pressure from travel restrictions, worker shortages and supply chain disruptions,” notes Patrick O’Hare of Briefing .
Around 5:15 p.m. GMT, Wall Street showed a slight increase: the Dow Jones Industrial Average gained 0.19%, the Nasdaq index, with strong technological coloring, 0.64%, and the broad S&P 500 index took 0.27 %.
The Eurostoxx rose 0.69%.
On the side of values
OILERS SUFFER
With the weakness of crude oil prices, against the backdrop of abundant supply and demand weakened by fears around the coronavirus, the oil majors continued to suffer. BP lost 1.92%, Royal Dutch Shell 0.74% and Equinor 3.20%. Only Total had a green day (+ 1.02%), thanks to 2019 results deemed encouraging.
DEUTSCHE BANK
Deutsche Bank shares jumped after the sharp rise in the capital of the American pension fund Capital Group, which now owns 3.1% of the capital of the German bank. In line with this announcement, which illustrates a certain return of market confidence, the action of Deutsche Bank gained 12.90% to 9.33 euros.
SECURITAS
The Swedish security services group presented results below forecasts for the fourth quarter on Thursday, even if its annual profit increased (+ 11.3% compared to 2018, to 3.36 billion crowns). On the Stockholm Stock Exchange, Securitas shares lost 6.10%.
Clues at a glance
Paris – CAC 40: + 0.88% to 6,038.18 points
Frankfurt – Dax: + 0.68% to 13,570.60 points
London – FTSE 100: + 0.30% to 7,504.79 points
Milan – FTSE MIB: + 1.05% to 24,490.35 points
Madrid – IBEX 35: + 0.96% to 9,811.30 points
Lisbon – PSI 20: -0.29% to 5,287.35 points
Swiss stock exchange – SMI: + 0.17% to 11,012.36 points
Amsterdam – AEX: + 0.87% to 618.75 points
Brussels – BEL 20: + 0.91% to 4,140.23 points
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