In Paris, the CAC 40 rose 0.42% (28.23 points) to 6,707.32 points, its first close above 6,700 since April 21. In Frankfurt, the DAX rose 0.78% while in London, the FTSE 100, which was hampered by ex-dividends . Satisfied with an increase of 0.02%.
The EuroStoxx 50 advanced by 0.39%, the FTSEurofirst 300 by 0.43%, and the Stoxx 600 by 0.46%. With that, the latter ended at its highest level since August 18.
US markets remain closed, as today is a public holiday United State for Thanksgiving, and they will only reopen for an abbreviated session on Friday, which affected trading volumes in Europe.
However, the appetite for risky assets remains bolstered by the publication of the Fed’s “minutes” which show a clear majority of FOMC members believe it will be “most likely soon” to slow price rises, even if some are less numerous. , they revised upward their estimate of the “final” rate, which is the rate at which the cost of money will peak.
“While not ideal for investors, the net effect is undoubtedly less ‘tightening’ and that’s at least in part what drove the rally,” said Craig Erlam, chief analyst at Oanda.
On the ECB’s side, the minutes of the October meeting show that the Governing Council still fears entrenching inflation. Moreover, Isabelle Schnabel, a member of the institution’s executive board, said there is room for a slowdown. At higher prices “still limited.”
Eurozone benchmark bond yields closed sharply on the heels of those on US Treasuries on Wednesday: the yield on the 10-year US Treasury note lost more than seven basis points at the end of the session to 1.847%, the lowest since Oct. 4, and the equivalent of two years. Round four points to 2.104%.
Thus, the gap between the two maturity periods remains at 26 points, which is the highest level since mid-2008.
Meanwhile, the French 10yr fell below 2.3% for the first time since Sept. 19.
Punished by the Federal Reserve’s “minimum”, the dollar fell 0.24% against a basket of reference currencies, and is now showing a decline of more than 5% since the beginning of November, its worst monthly performance in 12 years.
The euro rose 0.09% against the dollar, to 1.0404, after hitting a 10-day high of 1.0448 earlier in the day.
Almost all sectors on the European stock exchange ended the day in the green and among the best performers were real estate (+2.52%), which benefited from lower bond yields, and more volatile distribution (+0.55%) or media (+0.77%).
Leading the CAC 40, shopping center operator Unibail-Rodamco-Westfield rose 2.76%.
On the decline, Remy Cointreau finished nearly flat despite better-than-expected half-year results, and the spirits group remained cautious in the Chinese market.
Among the middle hats, Elior W Dericheburg 10.01% and 8.37% obtained, respectively, after making sure that they are discussing the possibility of an alliance.
The oil market remains near its recent two-month lows, with the mentioned level of Russian crude oil price ceiling by the G7 deemed too high to have a significant impact on global supplies.
Brent fell 0.25 percent to $85.20 a barrel, while US light crude (West Texas Intermediate, West Texas Intermediate) rose 0.06 percent to $77.99.
Both fell more than 3% on Wednesday in response to reports that the Group of Seven industrialized nations may set the price paid for Russian crude between $65 and $70 a barrel, while estimating its cost at about $20.
(Writing by Marc Angrand; Editing by Kate Entringer)