European stock markets started the week on a sharp decline, impacted by increased tensions in the Persian Gulf. The CAC 40 dropped below 8,000 points, down by 1.71% to 7,976 points, while the Euro Stoxx 50 fell by 2.05% to 5,760 points. In Frankfurt, the DAX slipped by 1.22%, as the London Stock Exchange was closed for a holiday.
Geopolitical concerns heightened around the Strait of Hormuz amid conflicting reports between Tehran and Washington regarding a maritime incident. The United Arab Emirates reported missile fires from Iran, mostly intercepted, with one projectile falling into the sea. A South Korean ship was also hit by an explosion and fire in the area, with no casualties reported.
In this context, oil prices saw a significant increase, with Brent rising by 5.32% to $113.99 per barrel and WTI up by 3.52% to $105.25.
On the macroeconomic front, industry orders in the United States rose by 1.5% in March, surpassing expectations.
In Europe, manufacturing activity indicators showed improvement: in France, the PMI reached 52.8, the highest since May 2022, while in the eurozone it hit 52.2, the highest in over four years. In Germany, it stood at 51.4. Additionally, investor sentiment in the eurozone improved in May, with the Sentix index at -16.4, higher than anticipated.
Top performers included Soitec, leading the SBF 120 with a surge of 20.91%, backed by a positive rating from Deutsche Bank, bringing its year-to-date increase to over 560%. Conversely, EssilorLuxottica (-4.41%) and Societe Generale (-3.97%) faced significant declines, while Capgemini (3.01%) and STMicroelectronics (2.15%) performed well.
The German automotive sector was impacted by Donald Trump’s announcement to raise tariffs on European vehicles to 25%, leading Porsche, Mercedes, BMW, and Volkswagen to experience notable declines.
In foreign exchange markets, the euro slightly decreased by 0.24% against the dollar, reaching 1.1697.
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