牛奶 (Milk) 加自选

德国10年期国债收益率升至2.7%以上，徘徊在三个多月来的最高水平附近，投资者继续关注贸易发展并评估其潜在的通胀影响。美国总统唐纳德·特朗普宣布自8月1日起对来自欧盟的进口商品征收30%的关税，尽管他后来表示愿意参与谈判。作为回应，欧盟重申其达成贸易协议的承诺，并宣布将推迟报复措施，将暂停计划中的关税延长至8月初，以便有时间进行进一步对话。与此同时，美国和英国的通货膨胀在6月份加速，促使市场略微降低了对美联储和英格兰银行降息的预期。在欧元区，人们普遍预计欧洲央行将在下周的会议上维持利率不变，尽管市场仍预计年底前至少会降息一次。

Germany’s 10-year Bund yield rose above 2.7%, hovering near its highest level in over three months, as investors continued to monitor trade developments and assess their potential inflationary impact. US President Donald Trump announced a 30% tariff on imports from the European Union, effective August 1st, although he later indicated a willingness to engage in negotiations. In response, the EU reaffirmed its commitment to reaching a trade agreement and announced it would delay retaliatory measures, extending the suspension of planned tariffs until early August to allow time for further dialogue. Meanwhile, inflation in both the US and UK accelerated in June, prompting markets to slightly scale back expectations for interest rate cuts by the Federal Reserve and the Bank of England. In the Eurozone, the European Central Bank is widely expected to keep rates on hold at its upcoming meeting next week, though markets still price in at least one rate cut before year-end.

周三，CAC 40指数小幅下跌至7756点左右，这是连续第四个交易日下跌，因为投资者权衡了新一轮的企业盈利和新闻，以及美国关税的发展。雷诺股价下跌16%，至2024年2月以来的最低水平，此前该公司下调了全年展望，并公布了低于预期的上半年初步业绩。另一家汽车制造商Stellantis NV也下跌了3.9%，此前该公司宣布将停止开发其氢燃料电池技术。其他表现不佳的公司包括Edenred（-2.9%）、开云集团（-2.8%）和意法半导体（-1.9%）。相反，依视路上涨1.1%，赛诺菲上涨0.9%，阳狮上涨0.7%，均显示出韧性。与此同时，贸易紧张局势继续影响市场情绪，此前美国总统特朗普警告称，可能会在本月底前对药品征收关税，并暗示随后可能对半导体征税。

The CAC 40 edged lower to trade around 7,756 on Wednesday, marking its fourth consecutive session of losses, as investors weighed a fresh round of corporate earnings and news, alongside US tariff developments. Renault slumped 16% to its lowest level since February 2024 after issuing a downgrade to its full-year outlook and reporting preliminary first-half results that fell short of expectations. Fellow automaker Stellantis NV also fell 3.9% after announcing it would halt development of its hydrogen fuel-cell technology. Other notable underperformers included Edenred (-2.9%), Kering (-2.8%), and STMicroelectronics (-1.9%). Conversely, Essilor rose 1.1%, Sanofi gained 0.9%, and Publicis added 0.7%, all showing resilience. Meanwhile, trade tensions continued to weigh on market sentiment, following US President Trump's warning that tariffs on pharmaceuticals could be introduced by the end of the month, along with suggestions that levies on semiconductors may follow.

法兰克福DAX指数周三小幅下跌至24000点，有望连续第五天下跌，因为交易员权衡了更多的关税威胁和令人失望的企业更新，包括ASML和雷诺的更新。美国总统唐纳德·特朗普周二表示，他可能会在本月底前对药品征收关税，对半导体的征税可能很快就会到来。在个股中，英飞凌科技领跌，下跌1.6%，其次是戴姆勒卡车控股公司、大众汽车、西门子能源、Vonovia和保时捷股份公司。从上涨的角度来看，Munchener Ruck（+1.1%）和Zalando（+0.8%）的股价尤为突出。

Frankfurt's DAX edged down toward the 24,000 mark on Wednesday, on track for the fifth straight day of losses, as traders weighed more tariff threats and disappointing corporate updates, including from ASML and Renault. President Donald Trump said on Tuesday he was likely to impose tariffs on pharmaceuticals by the end of the month and that levies on semiconductors could come soon. Among individual stocks, Infineon Technologies led the losses, down 1.6%, followed by Daimler Truck Holding, Volkswagen, Siemens Energy, Vonovia and Porsche AG. On the upside, shares of Munchener Ruck (+1.1%) and Zalando (+0.8%) stood out.

新西兰基准标准普尔/NZX 50指数周三上涨0.5%，收于12755点，标志着连续第二个交易日上涨。投资者权衡了印尼和美国之间的新贸易协定，以及美国消费者通胀飙升，导致投资者降低了对美联储降息的预期。在企业新闻中，新西兰的ikeGPS宣布启动一项200万澳元（约合220万新西兰元）的股票购买计划，并可自行决定接受超额认购。该公司的股价最初上涨了2%，达到2023年2月以来的最高水平，随后放弃涨幅，当天收盘持平。在大盘股中，Infratil（3.5%）、Spark NZ（1.9%）、斐雪派克（1.5%）和Mainfreight（2.3%）的涨幅显著。

New Zealand's benchmark S&P/NZX 50 index rose 0.5% to close at 12,755 on Wednesday, marking its second straight session of gains. Investors weighed the new trade agreement between Indonesia and the US, alongside a spike in US consumer inflation that led investors to scale back expectations for rate cuts by the Federal Reserve. In corporate news, New Zealand’s ikeGPS has announced the opening of a A$2 million (approximately NZ$2.2m) share purchase plan, with the option to accept oversubscriptions at its discretion. The company’s shares initially climbed as much as 2% to reach their highest level since February 2023, before giving up gains to close flat on the day. Among large-cap stocks, notable gains were seen from Infratil (3.5%), Spark NZ (1.9%), Fisher & Paykel (1.5%), and Mainfreight (2.3%).