No news, good news.
The election of Emmanuel Macron, this Sunday, April 24, had no significant impact on the financial markets of the old continent.
If a general decline is noted, Paris -1.98%, Frankfurt - 1.65%, Milan -1.61% and London -1.70%, the origin is to be sought on the side of the United States and the China.
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European players are anticipating a rapid monetary tightening by the Fed, the American central bank.
Faced with inflation, Jerome Powell, its chairman, said Thursday that a hike in key rates of half a percentage point "
was on the table
" for the next monetary meeting in early May, a faster pace than anticipated by investors.
Saxo Bank analysts note that “
some large banks even anticipate an acceleration in the pace of normalization with two rate hikes of 75 basis points each in June and July
”.
"
It's not a far-fetched scenario given the sharp rise in inflation
," they add.
Very slight “sigh of relief”
At the same time, the health situation in Shanghai continues to sow doubts.
Almost all of the 25 million inhabitants of the Chinese economic capital Shanghai have been confined since the beginning of April, disrupting supply chains.
And the threat of containment, after a rare epidemic outbreak, now threatens Beijing.
What “
reinforce fears that (the policy) Covid-zero will torpedo Chinese growth
”, worries Jeffrey Halley, analyst at Oanda.
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As for the re-election of French President Emmanuel Macron, it "
had been priced in by investors last week
," said Jeffrey Halley, who added that "
any post-election sigh of relief will be very light
."
"
Emmanuel Macron's clear victory is likely to reassure the markets on the continuation of the European dynamic
", underlines Frédéric Leroux, member of the strategic investment committee of Carmignac.
