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France Media Agency
European markets finally closed in the red, weighed down by profit taking with the end of the May installments. Frankfurt gave up 0.64%, Paris 0.57%, while Milan ended up stable.
The London Stock Exchange remained closed on Monday due to Spring Bank Holiday, as did the New York Stock Exchange, which celebrates Memorial Day. Friday, Wall Street had ended up slightly.
In Asia, Tokyo and Hong Kong closed at half mast, while Shanghai advanced.
“The markets are taking a break, at very high levels,” notes Mikaël Jacoby, Continental Europe brokerage manager at Oddo Securities.
Tuesday, the first day of June, will see the return of Anglo-Saxon investors, who could bring a little more animation to the markets, but Mikaël Jacoby “does not expect much from this week”, including agenda is not full.
In terms of indicators, “German inflation remains at a fairly high level,” notes the analyst.
The rise in consumer prices in Germany accelerated further in May, to 2.5% over one year, driven by the persistent surge in energy prices, according to provisional figures published by the Office. Federal Statistics (Destatis).
The OECD also raised its global growth forecasts for 2021 (to 5.8%) and 2022 (to 4.4%) on Monday, while warning against a relapse of the economy due to the persistence of “Headwinds”.
On Monday, European borrowing rates remained equal to those of Friday, stabilized by investors’ belief that the inflation currently observed will only be transitory.
Another indicator, India’s Gross Domestic Product (GDP) fell 7.3% in fiscal year 2020/2021, plunging the country into its first recession since independence.
Generali buys an insurer
The number one insurance company in Italy, Generali (-0.18% to 16.82 euros), announced that it had launched a takeover bid (takeover bid) for all of the shares of Cattolica Assicurazioni (+15.11 % to 6.97 euros).
Deutsche Bank pinned by the Fed
Several media claim that the US Federal Reserve has criticized in recent weeks the first German bank, which lost 1.26% to 12.19 euros, for not having sufficiently remedied the persistent shortcomings in its anti-money laundering controls. The bank declined to comment.
Nestlé destabilized
The Swiss group Nestlé (-0.38% to 110.70 Swiss francs) claimed to be working on its strategy for its food products, after the publication of a Financial Times article reporting that the majority of its products were not ‘do not score high enough to be considered good for your health.
Well oriented mining
In Paris, mining stocks were sought after, like CGG (+ 1.63% to 0.88 euros), ArcelorMittal (+ 1.59% to 26.92 euros) or even Aperam (+ 1.50 % to 45.90 euros).
On the oil, euro and bitcoin side
Crude prices started the week higher, with investors expecting OPEC + members to keep their policy of gradually ramping up black gold production unchanged after their expected high on Tuesday.
Iran’s oil minister said on Monday that his country must make a near tripling of its current crude production its “priority” in order to strengthen its “power”.
At around 4:45 p.m. GMT, a barrel of North Sea Brent for August delivery, which is the first day of use as a benchmark contract, was worth $ 69.27 in London, up 0.80% compared to the Friday close.
In New York, a barrel of WTI for delivery in July gained 0.93% to 66.94 dollars.
The euro appreciated 0.26% against the greenback, to 1.2226 dollars.
Bitcoin took 2.92% to $ 37,130.
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