Europe: Caution still dominates in Europe despite optimism in China
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PARIS (Reuters) – The main European stock markets opened again on a cautious note on Friday despite the renewed optimism on Wall Street and on the Asian markets, the doubts on the evolution of the economy and the interest rates continuing to rise. prevail even if industrials offer some support.

In Paris, the CAC 40 fell 0.25% to 6,630.60 points around 08:50 GMT. In London, the FTSE 100 lost 0.17%. In Frankfurt, however, the Dax advances by 0.09% thanks in particular to the industry compartment.

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The EuroStoxx 50 index fell by 0.07% and the FTSEurofirst 300 by 0.03%. The Stoxx 600 is practically unchanged (-0.01%) despite five consecutive sessions in the red.

Over the week as a whole, the CAC 40 has lost 1.68% at this stage and the Stoxx 600 1.73%.

The MSCI Asia-Pacific index, excluding Japan, rose 1.23% on Friday, while futures on major US indices point to a further rebound on Wall Street, the weekly registrations statistic being used as a pretext on Thursday to initiate a cautious return to risky assets.

Chinese Premier Li Keqiang said on Thursday that his country’s economy will continue to accelerate with new policy adjustment measures to combat COVID-19.

In Chinese economic statistics, the producer price index (PPI) fell in November for the second consecutive month, by 1.3% year on year, and that of consumer prices (CPI) decelerated, by 1.6% over one year.

Caution remains in Europe as the Governor of the Banque de France, François Villeroy de Galhau, said on Friday that he favored the hypothesis of weakly positive growth in 2023 for France.

Investors are further awaiting US producer price figures at 1.30pm GMT as the looming meetings next week of eurozone, UK and US central banks offer little incentive for a hold. disproportionate risk.

In the major compartments of the European quotation, the variations are slight, both upwards and downwards, a sign of a hesitant session.

In business news, TotalEnergies fell 1.12% after announcing that it would record a depreciation of 3.7 billion dollars linked to the Russian group Novatek.

Thales sells 1.67% in reaction to the postponement of the finalization of its Ground Transportation Systems activity to Hitachi Rail.

Air Liquide (-1.79%), Worldline (-4.42%) suffered respectively from the lowering of the recommendation of Jefferies and JP Morgan.

Elsewhere in Europe, Credit Suisse gained 1.87% on the back of a successful raising of 2.24 billion Swiss francs (2.26 billion euros), while Associated British Foods, the parent company of Primark, fell 0.78% after maintaining its forecast of lower annual profit.

(Written by Claude Chendjou, edited by Blandine Hénault)

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