PARIS (Reuters) – The main European stock markets are trending cautiously higher on Tuesday morning amid optimism about the imminent end of the monetary tightening cycle by the major central banks and pending data on US and German inflation. , as well as retail sales figures in the euro zone.

In Paris, the CAC 40 took 0.73% to 7,378.13 points around 07:40 GMT. In London, the FTSE 100 advances by 0.59% and in Frankfurt, the Dax gains 0.61%.

The EuroStoxx 50 index rose by 0.5%, the FTSEurofirst 300 by 0.64% and the Stoxx 600 by 0.54%.

Futures contracts on Wall Street predict a stable opening for the Dow Jones, the Standard & Poor’s 500 and the Nasdaq the day after a session up for the first two indexes.

The caution shown before the long Easter weekend gave way in Europe, after four days of closure, to a measured appetite for risk when the markets reopened on Tuesday while the US employment report published on Friday showed job creations at a still sustained pace in March, which could plead for a new monetary tightening.

According to some analysts, like Gary Ng of Natixis, the markets have already priced in a 25 basis point rate hike from the US Federal Reserve (Fed) in May and are mainly awaiting consumer price figures and to production in the United States scheduled for Wednesday and Thursday.

German inflation for March is expected on Thursday.

In the euro zone, the monthly retail sales statistics will be published at 09:00 GMT and the Reuters consensus forecasts a drop of 0.8% over one month and 3.5% over one year.

The International Monetary Fund (IMF), for its part, must publish its forecasts for the world economy at 13:00 GMT.

On the stock market, the positive trend is driven by the basic resources compartment (+1.81%) with in particular ArcelorMittal (+2.82%) and the automobile industry (1.95%) with, among others, Renault (+2, 84%) and Stellantis (+2.67%).

In corporate news, Airbus is in the green after the announcement of 127 aircraft delivered in the first quarter, while Accor gains 1.81% thanks to the increase in the recommendation of Morgan Stanley to “overweight”.

Glencore advances 2.59% as its chief executive is due to meet personally with some of Teck Resources shareholders in Toronto on Thursday to ask them to support the $22.5 billion (20.65 billion euros) takeover plan formulated by the Anglo-Swiss giant on the Canadian group, according to a source.

(Written by Claude Chendjou, edited by Blandine Hénault)

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