PARIS (Reuters) – The positive trend continues for European stock markets at the start of the session on Monday, before the publication in the week of a rain of corporate results and several economic indicators.
Around 08:00 GMT, the Parisian CAC 40 gained 0.23% to 7,536.77 points, after a record 7,552 points. In London, the FTSE 100 takes 0.5% and in Frankfurt, the Dax advances by 0.29%.
The EuroStoxx 50 index is up 0.03%, the FTSEurofirst 300 0.27% and the Stoxx 600, at its highest since February 2022, gains 0.23%.
European stocks ended in the green on Friday as better-than-expected results from US banks and the prospect of a pause in the cycle of Federal Reserve (Fed) rate hikes allowed the Stoxx 600 to reach a peak over a year.
After the good results of Citigroup, JPMorgan and Wells Fargo, investors will follow Tuesday the announcements of another trio of banks: Goldman Sachs, Morgan Stanley and Bank of America.
The publications of Tesla, Netflix or ASML and Renault in Europe will also be featured in the coming days.
Along with the results, several top Chinese statistics are due on Tuesday, including GDP for the January-March period. The Reuters consensus is for growth of 4% thanks to the end of health restrictions, which would mark the strongest growth in the country in a year.
On the stock market, the electronic payment specialists Worldline took 4.54% in Paris and Nexi 4.41% in Milan, the competitor Network International (+19%) having received a purchase proposal from a consortium led by CVC Capital and Francisco Partners, valuing the British company at around 2.06 billion pounds (2.33 billion euros).
The Finnish Rovio, publisher of the video game Angry Bird, climbed 17.88% after the Japanese Sega announced an acquisition offer at 706 million euros.
Faurecia advances by 1.51% after the FORVIA group, of which it is an entity, published organic sales growth of 17.6% in the first quarter.
On the downside, EssilorLuxottica lost 1.40% after Bernstein’s downgrade to “line performance”.
(Laetitia Volga, edited by Blandine Hénault)
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