European stock markets rose sharply due to a possible hike in US tariffs on China

European stock markets rose sharply due to a possible hike in US tariffs on China

Strong rise in European stock markets After the statements of US President Joe Biden, On the possible lifting of some tariffs decided by his predecessor Donald Trump on China, While the increase in interest rates envisioned by Christine Lagarde, President of the European Central Bank, did not surprise investors. London marks + 1.67%, Frankfurt + 1.41%, Paris + 17%. The rise in Milan was less pronounced (+0.17%) which was affected by the coupon separation of 60 companies, including 19 large companies.

Btp/Bund spread at 200 pips (-1.46%)

In Avary Arena, Saipem (+5.29%) combined the company’s common stock in a ratio of 21 new shares for every 100. Brilliant performance for Bpm Bank (+4.3%), after CEO. From Credit Agricole Italy, Giampiero Maioli, on the sidelines of a conference, stated that the group’s interest remains focused on bancassurance. Unicredit (+4.22%), Banca Mediolanum (+ 4.09%), Bper (+ 3.06%) also performed well. At the bottom of the main list was Azimut Holding Company (-3.7%).

Crude oil price is slowing, with European markets closed, the July delivery contract on Brent crude rose 0.41% to $113.01 a barrel, and its price from the same maturity on West Texas Intermediate crude rose 0.03% to $110.31 a barrel.

In the foreign exchange market, the euro is trading at 1.0679 (1.0608 at the beginning and 1.0555 at the end of Friday at 136,435 yen (135.47 and 134.94), while the dollar / yen ratio is 127.745 (127.70 and 127.86). Gas in Amsterdam fell by 4.9 % to 83.58 euros per megawatt-hour.

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