PARIS (Reuters) – The main European stock markets are moving in dispersed order at the start of the session on Tuesday, just over 24 hours before the publication of monthly inflation figures in the United States, which could influence the next decisions of the Reserve federal.

In Paris, the CAC 40 lost 0.39% to 7,411.80 points at 07:38 GMT. On the London Stock Exchange, which reopens the day after a public holiday, the FTSE 100 takes 0.14% and in Frankfurt, the Dax fell by 0.05%.

The EuroStoxx 50 index is down 0.33%, the FTSEurofirst 300 -0.12% and the Stoxx 600 -0.33%.

The next test for the markets is set for Wednesday with the release of the monthly US consumer price data, which will provide further insight into the Fed’s potential path on interest rates. The Reuters consensus expects inflation to stagnate at 5% over one year, but to accelerate by 0.4% from one month to the next.

Market attention is shifting to US President Joe Biden’s meeting earlier today with Republican leaders in Congress, including House Speaker Kevin McCarthy, to try to find a compromise on the debt and avoid a possible default of payment by the United States.

Among the rare macroeconomic data of the day, Chinese foreign trade figures show an unexpected contraction in imports in April, at -7.9%.

The luxury groups Kering and Hermès, very sensitive to news from China, fell by 0.81% and 0.98% respectively.

JD Sports takes 2.71% in London after offering to buy the French brand Courir on the basis of an enterprise value of 520 million euros.

Banco BPM gains 3.83% after raising its profit target for 2023 and 2024.

Adyen lost 1.70%, in the wake of PayPal, which lost more than 5% after the close of Wall Street on Monday evening after lowering its annual adjusted operating margin forecast.

(Laetitia Volga, editing by Kate Entringer)

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