Keystone-SDA
The FTSE 100, the main index of the London Stock Exchange, rose Thursday morning shortly after the opening to a new record, carried by the overall optimism of the markets on the UE-USA trade negotiations and the concerns about copper doping its mining values.
(Keystone-ATS) Around 10:10 am, the FTSE 100 climbed from 0.95% to 8950.88 points, exceeding its previous record of 8908.82 points reached on March 3. He progressed faster than the Paris CAC 40 or the Dax of Frankfurt.
The markets have generally decided “to ignore the uncertainty linked to customs duties”, which brought the electronic chip giant NVIDIA on Wednesday and Bitcoin has summits during the American session, notes Matt Britzman, analyst at Hargreaves Lansdown.
“European markets followed the movement this morning”, including the British place.
However, if the Place de London benefits from this movement, it is paradoxically also “carried by mining companies like Anglo American, Rio Tinto and Glencore”, concerns about future customs duties on copper raising the prices of red metal, adds Victoria Scholar, analyst at Investor Investor.
Donald Trump unveiled a 50% surcharge on copper imported to the United States from August 1 on Wednesday.
The market is also waiting to be set on the fate of the European Union in matters of customs duties, and “the fact that the United States continues to negotiate with the EU is perceived on the stock market as a sign of strength”, according to Jochen Stanzl, analyst at CMC Markets.
The objective of the EU is immediately to obtain the maintenance of customs duties applied to European products at 10%, instead of the 20% announced in early April, with exemptions for key sectors such as aeronautics, cosmetics and alcoholic drinks.
Investors also digest new announcements from the US President on reciprocal customs duties for a new series of countries, including Brazil, surcharged at 50%.