PARIS (Reuters) – The main European stock markets rose moderately at the start of the session on Friday, the financial markets avoiding taking trenchant positions a few hours before the publication of a key indicator on the evolution of prices in the United States.

In Paris, the CAC 40 gained 0.27% to 7,337.55 points around 09:05 GMT. In London, the FTSE 100 takes 0.28% and in Frankfurt, the Dax advances by 0.14%.

The EuroStoxx 50 index is up 0.2%, the FTSEurofirst 300 0.28% and the Stoxx 600 0.28%.

For the final session of the week, watchers will take in January’s US household income and spending figures at 13:30 GMT, which include the PCE price index.

In its “core” version, i.e. excluding energy and food products, this inflation indicator favored by the Federal Reserve is given as an increase of 4.3% over one year by the Reuters consensus, after +4.4% a month earlier.

If a marginal slowdown is confirmed, the fear of seeing the Fed continue its monetary tightening for longer could increase.

Leading the CAC 40, Saint-Gobain gained 5.81% after publishing record results last year. The European construction compartment advances by 0.88%.

Valeo shows the largest drop in the Stoxx 600, the automotive supplier having reported mixed annual results according to Jefferies, which underlines in a note an Ebit margin below expectations.

Fnac Darty (-6.64%) erases a large part of its gains on Thursday after describing as a rumor a press report on increased interest from businessman Daniel Kretinsky for the group, which also published a net loss for 2022.

German chemicals giant BASF lost 4.91% after warning of a drop in operating profit in 2023 and the end of its share buyback program.

(Laetitia Volga, edited by Blandine Hénault)

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