(Zonebourse.com) – European stock markets began the week in sharp decline, penalized by renewed tensions in the Persian Gulf. The CAC 40 fell back below 8,000 points, down 1.71% to 7,976 points, while the Euro Stoxx 50 fell 2.05% to 5,760 points. In Frankfurt, the DAX lost 1.22%, in a session marked by the closure of the London Stock Exchange for the public holiday.
Geopolitical concerns have rekindled around the Strait of Hormuz, against a backdrop of contradictory information between Tehran and Washington concerning a maritime incident. At the same time, the United Arab Emirates reported missile fire from Iran, largely intercepted, while a projectile fell at sea. A South Korean ship was also hit by an explosion followed by a fire in the area, without causing any casualties.
In this context, oil prices increased significantly, with Brent gaining 5.32% to $113.99 per barrel and WTI 3.52% to $105.25.
On the macroeconomic level, industrial orders increased by 1.5% in the United States in March, beyond expectations.
In Europe, indicators of manufacturing activity confirmed an improvement: in France, the PMI rose to 52.8, the highest since May 2022, while in the euro zone it reached 52.2, the highest in almost four years. In Germany, it stood at 51.4. Furthermore, investor morale in the euro zone recovered in May, with the Sentix index coming out at -16.4, better than expected.
On the value front, Soitec stood out at the top of the SBF 120 with a surge of 20.91%, supported by a favorable note from Deutsche Bank, bringing its increase since the start of the year to more than 560%. Conversely, EssilorLuxottica (-4.41%) and Societe Generale (-3.97%) were among the biggest declines in the CAC 40, while Capgemini (3.01%) and STMicroelectronics (2.15%) performed well.
The German automobile sector was penalized by Donald Trump’s announcement to increase customs duties on European vehicles to 25%. Porsche, Mercedes, BMW and Volkswagen thus suffered marked declines.
Finally, on the foreign exchange market, the euro fell slightly by 0.24% against the dollar, to 1.1697.
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source: AOF
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