Markets are supported by hope for a vaccine and advances in the treatment of Covid-19 
 
Eurostoxx 50 3,467.60 points +0.45% 
CAC 40 5,495.89 points +0.39% 
DAX 30 13,137.25 points +0.39% 
FTSE 100 6,351.45 points +0.27% 
SMI 10,495.65 points +0.05% 
AEX 601.62 points +0.94% 
BEL 20 3,585.66 points +0.36% 
IBEX 35 7,977.90 points +0.60% 
 
DJIA 29,263.48 points -0.75% 
Nasdaq 11,854.97 points -0.42% 
S&P 500 3,557.54 points -0.68% 
 
Nikkei 225 25,527.37 points -0.42% (close of November 20) 
 
Exchange rate at 06:50 
Change from closing in New York 
 
EUR/USD 1.1874 +0.15% 
EUR/JPY 123.17 +0.04% 
USD/JPY 103.74 -0.11% 
 

TO FOLLOW IN FRANCE

Investors will be watching on Monday for preliminary manufacturing and services PMI figures for November, a month marked by the re-lockdown in France.

On the business side, Danone and Icade organize investor days.

actions

European equity markets are expected to continue their gains on Monday morning as investors remain focused on treatments and vaccines in development against Covid-19.

At 7:30 a.m., the CAC 40 futures contract gained 26 points, or 0.5%, according to data from broker IG Markets. The contract on the DAX 30 advanced by 54 points, or 0.4%, and that on the FTSE 100 was up 22 points, or 0.3%.

While the pandemic is expected to wreak havoc in many countries, the United States hopes to be able to start vaccinating its population before mid-December, as soon as the Food & Drug Administration (FDA) has approved a vaccine. A total of 20 million Americans could be vaccinated by the end of the year, according to health officials.

The FDA also authorized over the weekend a synthetic antibody treatment developed by Regeneron, which avoids hospitalizations due to Covid-19.

For their part, G20 leaders on Sunday called for renewed efforts to fight the pandemic and revive the global economy, following a two-day summit held by videoconference due to the virus.

On Friday night, Wall Street ended lower, penalized by the resurgence of coronavirus cases and new health restriction measures in the United States that may slow the economy during the holiday season. The Dow Jones Index (DJIA) lost 0.8% to 29,263 points. The broader S&P 500 index fell 0.7% to 3,557 points. The tech-rich Nasdaq gave up 0.4% to 11,854 points.

In Asia, markets are generally trading in the green on Monday. The Shanghai Composite Index gained 1.1% at the end of the session, while the Kospi gained 2% in Seoul. Only the Hang Seng index lost 0.03%, penalized by a sharp rise in the number of Covid-19 cases in Hong Kong.

The Tokyo Stock Exchange is closed due to a public holiday in Japan.

Obligations

Yields on long-dated U.S. Treasury bonds fell by the most in months on Friday, as concerns about the lack of further fiscal stimulus, rising Covid-19 cases and corporate restrictions in the United States led to a buying movement on bonds on Wall. Street.

The ten-year Treasury yield closed down 2.6 basis points to 0.828% on Friday. On the week, this rate lost 8.28 basis points, suffering its largest weekly decline since August 21. The yield on the 30-year bond fell 11.8 basis points, its largest weekly decline since June 12.

FOREIGN EXCHANGE

The euro rose against the dollar on Monday, as market optimism about a Covid-19 vaccine affected safe havens like the greenback.

The euro/dollar pair should continue to consolidate around 1.1800 and ignore the delay observed in the adoption of the the European Union, says Commonwealth Bank of Australia.

Poland and Hungary have blocked the adoption of the European recovery plan, due to a clause linking the payment of funds to respect for the rule of law. Discussions to break the deadlock have begun, before a European Council scheduled for 10 and 11 December, CBA said.

In addition, the bank believes that the November EUROZONE PMIs, due to be published on Monday, will signal a contraction in economic activity as a result of the lockdown measures implemented in many countries of the monetary union.

Oil

Oil prices  are gaining ground on Monday morning, after recording their third consecutive weekly rise last week. According to analysts, the market is supported by hopes that the Organization of the Petroleum Exporting Countries (OPEC) and its allies will cut production.

Some market participants believe that the OPEC+ meeting, scheduled for the end of November, could result in a three- to six-month extension of existing production cuts, Axi says. the market has its eyes on OPEC's activities," said Stephen Innes of Axi.

At 7:20 a.m., the January contract for North Sea Brent gained 40 cents to $45.36 a barrel, while the same maturity contract for Nymex Light Sweet Crude (WTI) was up 32 cents to $42.74 a barrel.