POINT MARKETS: Europe ends slightly before the Easter weekend

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                * Indicators of PMI activity in the euro area below expectations
* US retail sales and unemployment claims better than expected
* The dollar is rising, euro bond yields and bonds are decreasing
* Redemption of short positions in Europe before the Easter weekend
* The CAC 40 at an 11-month record, the Stoxx 600 has a peak of over 8 months

by Juliette Rouillon
PARIS, April 18 (Reuters) - The main European stock exchanges are over
slightly higher, with the exception of the London Stock Exchange, supported by the
weakness of the euro and repayments of short positions before the long
Easter weekend, which offset the activity surveys with
procurement managers below expectations in the euro area.
The euro, already weakened in the morning by European SMEs, has lost more
field in the early afternoon against the dollar after the publication of sales a
retail and jobless claims much better than expected in the United States.
In Paris, the CAC 40 .FCHI index closed 0.31% at 5,580.38
points, its highest level of closure since 22 May. British footsie
.FTSE produced 0.15% while the German Dax. GDAXI has gained 0.57%.
Nicolas Che? Ron, head of research for Binck.fr,
stresses that the CAC 40 was supported by a technical phenomenon, namely
the monthly maturity on futures, shares and options contracts.
"Usually the third Friday of the month, the session of the three witches
it was moved to this Thursday due to the Easter weekend and the closed markets
Friday, "he says.
The EuroStoxx 50 .STOXX50E has increased by 0.62%, the FTSEurofirst 300
.FTEU3 of 0.21% and Stoxx 600 .STOXX of 0.22% at 390.46 points, at most
high since 7 August 2018.
In the reduced week, the ACC gained 1.4% and the Stoxx 600 0.76%.
The European markets will be closed for Good Friday and Monday of
Easter, while the US markets will be closed only on Friday.
The markets resisted the announcement of a decline in activity in the area
in April, the day after Berlin's decision to reduce its forecasts of
2019 growth for the second time in three months.
"C & # 39; s so much pessimism in Europe that disappointing data of the PMI
did not cause a new wave of sales, resulting in redemption of
short positions ", explains Giuseppe Sersale, manager of Anthilia Capital.
According to data released this week by the Bank of America Merrill Lynch
Global research, short selling of European equities was the
investor's favorite theme for April for the second consecutive month.

VALUES
The earnings season continues in Europe and is driving the market.
Kering PRTP.PA, the largest decline in the CAC 40, decreased by 5.04%, the
slowdown in Gucci's growth and persistent difficulties in
Bottega Veneta favored profit taking after strong growth
title that had taken over 52% in the last six months.

The European distribution index .SXRP has decreased by 0.45% while
the automobile .SXAP (+0.98) took command of sectoral increases, such as
Eve, designed among others by Daimler DAIGn.DE (+ 2.12%) which, according to the director
Magazin, aims at six billion euros of savings at Mercedes-Benz and two
billions in its heavy truck division Daimler Trucks.

Schneider Electric SCHN.PA, the largest increase in CAC, took 2.72% afterwards
published a quarterly turnover higher than expected.
Soitec SOIT.PA has reached the maximum growth of SBF 120
(+ 10.23%) after the quarterly results accepted.
Elsewhere in Europe, Unilever ULVR.L earned 2.87%, the largest increase in
l EuroStoxx 50, after announcing growth for the first quarter
better organic sales than expected. Nestlé NESN.S, which has
also released its quarterly sales, increased by 0.8%.
Osram Light OSRn.DE fell 5.5% in Frankfurt, the largest decline in
Stoxx 600, under the press release said the funds will
American Bath and Carlyle CG.O to purchase the lighting specialist
blurs.

A WALL ROAD
At the close in Europe, the major US indices are mixed, in a
volatile market, despite the good economic indicators of the day. As the
Eve, the New York Stock Exchange is weakened by the health sector, in a
climate that remains further dominated by prudence before the long weekend of
Easter and the publication of a written version of the report of the special prosecutor
Mueller.
Robert Mueller found no evidence to suggest that the President
Donald Trump has been guilty of obstruction of justice, however
declared attorney general William Barr shortly before the European fence;
publication of a drafted version of the special prosecutor's report.
The season of results continued to animate the markets and
analysts are forecasting a 1.8% decline in quarterly earnings
S & P 500, the first contraction since 2016. Of the 54 companies
of the S & P they have published so far, 79.6% of them broke the consensus, according to
Refinitiv.

INDICATORS OF THE DAY
In the area of ​​the euro, the business fell in April, the demand for
remaining depressed, and the prospects for improvement are tenuous, they have shown
first results of the monthly surveys of IHS Markit directors
purchases, which reflect, among other things, a contraction in the manufacturing sector
which could persist for several months.
These indicators were published the day after the government's decision
German to review its growth forecast this year for the
second time in three months, at 0.5% compared to 1.0% in January, which has cooled
the enthusiasm triggered by Thursday's announcement of Chinese growth
exceeded expectations in the first quarter.
In the United States, March retail sales were released before the opening of
Wall Street has published its strongest monthly earnings from almost one
year and a half, especially boosted by car purchases.
Similarly, the number of weekly unemployment claims on the market
The United States fell to 192,000 in the week until April 13, the lowest level
from September 1969, against 197,000 the previous week.
The economic activity in the northeastern United States, on the other hand,
slow growth in April, according to the monthly reserve survey
Philadelphia Federal ("Philly Fed").

EXCHANGE
The euro drops 0.5% against the dollar, to 1.12 dollars, after the figures of
PMI flashes German and euro zone and good US indicators. EUR =
The dollar index, which measures the fluctuations of the greenback against a basket
reference currency, seize the opportunity to take 0.38%. DXY
For its part, the pound fell 0.4% against the dollar, the announcement of a
March, unexpected rebound in British retail sales
briefly allowed the British currency to mitigate its losses.
GBP =

RATE
Signs of a slowdown in activity in Europe have penalized
yields on government bonds in the region. The 10-year-old German fell further
three basis points, at 0.023%, significantly below the peak of one month concerned
the day before 0.1%. DE10YT = RR
The yield of the French FR10YT of 10 years = RR has dropped to 0.367%,
down six basis points.
Ten-year government bonds fell by 2.561%, continuing
the decline began Wednesday after a four-week peak at 2.614%. US10YT = RR

OIL
Crude oil prices have stabilized, the impact of a decline in exports
Saudi Arabia and an unexpected contraction of crude oil stocks a
The United States has been overshadowed by the strength of the dollar and the fall in stocks.
The Brent LCoC1 is virtually unchanged at $ 71.60 a barrel, close
its five-month high at $ 72.27 hit Wednesday, and crude oil
The American lightweight CLc1 fell 0.3% to $ 63.53.

THINGS TO LOOK FOR FOR FRIDAYS & # 39 ;:

MARKET SITUATION
(Some data may show a slight shift)


CLOSING IN
EUROPE
Last Var Indexes. Var% YTD
points
Eurofirst 300 1533.85 +3.28 + 0.21% + 15.21%
.FTEU3
Eurostoxx 50 3499.23 +21.50 + 0.62% + 16.59%
.STOXX50E
CAC 40 .FCHI 5580.38 +17.29 + 0.31% + 17.96%
Dax 30 .GDAXI 12222.39 +69.32 + 0.57% + 15.75%
FTSE .FTSE 7459.88 -11.44 -0.15% + 10.88%
SMI .SSMI 9571.22 -25.38 -0.26% + 13.55%

The values ​​to follow in Paris and in
Europe: GUARDIA / LFR

THE TREND A
WALL STREET
Last Var Indexes. Var% YTD
points
Dow Jones .DJI 26539.20 +89.66 + 0.34% + 13.77%
S & P-500 .SPX 2901.72 +1.27 + 0.04% + 15.75%
Nasdaq .IXIC 7975.91 -20.17 -0.25% + 20.20%
Nasdaq 100 .NDX 7671.10 -9.62 -0.13% + 21.19%

Report of the meeting on Wall
Via: .NFR
"The Day Ahead" - Update in the next session
on Wall Street DAY / US

EXCHANGE
Corso Veille Var.% YTD
DRL EUR = 1.1238 1.294 -0.50% -2.01%
Dlr / Yen JPY = 111.93 112.05 -0.11% + 1.51%
Euro / Yen 125.79 126.54 -0.59% -0.34%
EURJPY =
Dlr / CHF CHF = 1.0147 1.0103 + 0.44% + 3.39%
Euro / CHF 1.1403 1.1414 -0.10% + 1.32%
EURCHF =
Stg / Dlr GBP = 1.3000 1.3043 -0.33% + 1.90%
Index $ .DXY 97.3790 97.0090 + 0.38% + 1.25%

OR
Course Watch Var.% YTD
Gold Spot XAU = 1273.47 1273.74 -0.02% -0.72%

RATE
Last Var. Diffusion / Bund
(Pt)

Future Bund 165.22 +0.92
FGBLc1
Bund 10 years 0.02 -0.00
DE10YT = RR
Bund 2 years -0.59 +0.00
DE2YT = RR
OAT 10 years 0.37 -0.00 +34.34
FR10YT RR =
Treasury 10 years 2.56 -0.03
US10YT = RR
Treasure 2 years 2,39 -0,01
US2YT = RR

PETROLEUM
Var. Previous course Var.% YTD
Light crude US 63.61 63.76 -0.15 -0.24% + 38.86%
CLc1
Brent LCOc1 71.74 71.62 +0.12 + 0.17% + 32.48%


(Edited by Blandine Hénault)
 
 

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