May 13 (Reuters) – Wall Street is expected to be in mixed order and European stock markets rebound on Wednesday mid-session, with the exception of Paris, driven by the slight drop in oil prices and company results, while investors monitor the summit between China and the United States which is taking place. is holding on to Beijing against a backdrop of diplomatic impasse in the Middle East. Futures on New York indices signal an opening down 0.30% for the Dow Jones, and up 0.23% for the Standard & Poor’s-500 and 0.72% for the Nasdaq. In Paris, the CAC 40 lost 0.38% and moved below the 8,000 point mark at 7,949.73 around 11:35 GMT. In Frankfurt, the Dax gained 0.84% and in London, the FTSE was stable (+0.01%).
The EuroStoxx 50 index gained 0.39% and the FTSEurofirst 300 gained 0.35%. The Stoxx 600, which lost more than 1% the day before, gained 0.32%.
American President Donald Trump is expected in China on Wednesday for a meeting with his counterpart Xi Jinping, and investors are waiting to see if Beijing’s influence on Tehran can help resolve the diplomatic impasse between the United States and Iran.
The tenant of the White House, who this week described the Iranian response to his proposed agreement as “unacceptable”, however declared that he did not think he needed China’s help to end the war.
“The scenario favored by the markets would be that China manages to influence the ceasefire or the peace process in Iran, but this is considered relatively improbable,” warns Amélie Derambure, portfolio manager at Amundi.
Oil prices fell slightly on Wednesday, providing some respite, although the de facto closure of the Strait of Hormuz kept prices above $100 a barrel, fueling inflation and curbing global growth.
European corporate profits overall are expected to post their biggest rise in three years in the first quarter, driven by strong growth in the energy and financial sectors, but as the war drags on, concern is growing.
In its latest monthly economic report, published on Tuesday, the Banque de France (BdF) declined to establish a growth forecast for the second quarter, citing the high uncertainty surrounding the effects of the war in the Middle East on economic activity, while the second estimate of gross domestic product (GDP) of the euro zone for the period January-end of March confirmed on Wednesday the slowdown in growth in the first quarter of 2026.
The unemployment rate in the euro zone’s second-largest economy, for its part, increased in the first quarter to 8.1% of the active population, its highest level since the first quarter of 2021.
Inflationary fears also persist, especially as traders learned on Tuesday that consumer prices in the United States had reached their highest level in three years in April, with energy-related inflation accounting for more than 40% of this jump.
The producer price index (PPI) in the United States, expected at 12:30 GMT, should provide more details on the impact of the war on economic activity.
VALUES TO FOLLOW AT WALL STREET
VALUES IN EUROPE
Numerous publications punctuate exchanges in Europe. In Paris, Alstom gained 2.8% after the TGV manufacturer published a generally stable annual adjusted operating result.
The French manufacturer of steel tubes Vallourec climbs 8.67% after a 4% increase in its operating profit in the first quarter and the investment group Eurazeo takes 1.19% after reporting assets under management (AUM) up 7% year-on-year at the end of March.
Elsewhere in Europe, Zurich Insurance gained 3.40% thanks to an increase in gross premiums written in the first quarter for its general insurance activity, while Allianz advanced 1.33% thanks to a 52% jump in its quarterly net profit.
Merck KGaA climbs more than 8% after raising its adjusted operating profit forecast for this year.
Adecco plunged more than 10%, with analysts pointing to a gross margin below expectations which offset better-than-expected organic revenue growth.
ABN Amro jumped 7.15%, the Dutch bank having published quarterly profit up 12% year-on-year, above expectations.
On the Stoxx 600, technology stocks increased by 2%, driven by the semiconductor industry. Infineon Technologies, STMicroelectronics and Aixtron climb between 6% and 9%.
RATE
Yields on German government bonds remain near their highest levels in several years, with investors expecting the European Central Bank (ECB) to carry out rate hikes by the end of the year to combat inflation.
After a gain of 5.5 basis points on Tuesday, the yield on the 10-year German Bund rose 0.7 basis points to 3.1050%, while that of the two-year bond was rather stable at 2.7070%.
Asset manager Jupiter, however, believes that the market is anticipating too many rate hikes from the ECB.
“The market is now pricing in up to three rate hikes, which seems exaggerated,” said investment manager Ariel Bezalel, pointing to signs of slowing European economic growth, such as France’s unemployment figures.
In the United Kingdom, yields were rather stable on Wednesday, even if operators remained on alert in the face of the turbulent political situation, with British Prime Minister Keir Starmer fighting for his political survival.
In the United States, yields are down slightly, after an increase the day before linked to inflation figures and the impact of geopolitical tensions. The yield on ten-year Treasuries lost 0.6 basis points to 4.4669%. The two-year lost almost a basis point at 3.9875%.
US inflation data has highlighted the economic impact of the war in Iran, and traders see this as a factor that increases the likelihood that central banks will be forced to raise rates sooner than expected.
The US Senate also confirmed on Tuesday the nomination of Kevin Warsh as governor of the Federal Reserve (Fed) for a 14-year term and must now vote on his confirmation for a four-year term as president of the Fed, as part of a separate vote scheduled for this Wednesday.
EXCHANGES The dollar gained 0.18% against a basket of reference currencies, remaining near its one-week peak after high US inflation figures and in a context of geopolitical uncertainty.
L’euro perd 0,2% Ã 1,1713 dollar.
The pound sterling fell by 0.23% against a backdrop of political crisis in the United Kingdom.
PATROL
Oil prices are rather stable on Wednesday, with investors awaiting new developments on the fragile ceasefire in the Middle East and Donald Trump’s visit to China.
Brent gained 0.24% to $108.03 per barrel and American light crude (West Texas Intermediate, WTI) lost 0.01% to $102.17.
According to the International Energy Agency (IEA), global oil supplies are expected to decline by around 3.9 million barrels per day in 2026 due to disruptions caused by the war in Iran.
MAIN ECONOMIC INDICATORS ON THE AGENDA OF MAY 13:
COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS
USA 12:30 April producer prices +0.5% +0.5%
– over one year +4.9% +4.0%
(Some data may show a slight shift)
(Rédigé par Diana Mandiá, édité par Blandine Hénault)
par Diana Mandia
