PARIS (Reuters) – The main European stock markets are moving up on Thursday in the first exchanges, supported in particular by the hope of a deceleration in inflation in Germany, the first economy of the bloc, before the publication on Friday of figures in the matter for the whole of the euro area.
In Paris, the CAC 40 took 0.95% to 7,254.93 points around 08:35 GMT. In London, the FTSE 100 advances by 0.33% and in Frankfurt, the Dax gains 1.09%.
The EuroStoxx 50 index rose by 1.07%, the FTSEurofirst 300 by 0.66%. The Stoxx 600 gained 0.86% to 454.09 points, to a two-week high.
Over the whole quarter, the CAC 40 is up 12.03% at this stage and the Stoxx 600 6.84%.
Futures contracts on the main American indices predict a continuation of the rise on Wall Street with a gain of 0.27% for the Dow Jones, 0.34% for the Standard & Poor’s 500 and 0.24% for the Nasdaq. The positive trend on the other side of the Atlantic was supported the day before by new technologies, with in particular the forecasts of Micron, whose stock rose by 7.2%.
In Europe, the main macroeconomic event concerns data on consumer prices (CPI). The first inflation figures in the German land of North Rhine-Westphalia show a deceleration to 0.6% over one month and 6.9% over one year against +1.0% and +8.5% respectively in February. National data for Germany will be released at 12:00 GMT, while those for the whole euro zone are due on Friday.
However, investor sentiment could change with the publication at 12:30 GMT of the final US GDP figures for the fourth quarter and the PCE price index statistic, the preferred measure of inflation by the US Federal Reserve (Fed).
On the stock market, the real estate compartment (+2.76%) recorded the best performance of the Stoxx 600 with the decline in bond yields and the prospect of a moderation in interest rates from the European Central Bank (ECB) if the slowdown in inflation in Germany is confirmed.
In corporate news, H&M jumped 8.92%. The Swedish clothing retailer on Thursday reported a surprise operating profit for the December-February period as analysts expected a net loss. Philips gains 4.96% as its chief executive said he expects respiratory device deals this year.
The British electricity group SSE advanced by 2.73% after raising its annual profit forecast.
(Written by Claude Chendjou, edited by Blandine Hénault)
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