PARIS (Reuters) – The main European stock markets are in the green at the start of the session on Tuesday, but their progress is however hampered by concerns about the economic situation in China and the file of the American debt ceiling.
In Paris, the CAC 40 nibbles 0.04% to 7,420.84 points at 07:57 GMT. In London, the FTSE 100 takes 0.21% and in Frankfurt, the Dax also advances by 0.21%.
The EuroStoxx 50 index was up 0.19%, the FTSEurofirst 300 lost 0.06% and the Stoxx 600 gained 0.02%.
In China, major stock indices fell more than 0.5% as industrial production and retail sales accelerated in April at a less than expected pace, official data showed, suggesting the economy lost momentum. its dynamism at the start of the second quarter.
Another factor favoring investor caution: questions about the ability of US President Joe Biden and Republican leaders in Congress to find common ground on raising the US debt ceiling.
A meeting at the highest level is scheduled for 7:00 p.m. GMT at the White House to try to avoid a possible default on June 1.
Several statistics are expected during the day. In the United States, retail sales and industrial production in April will be monitored, while in Europe it will be the German ZEW index of investor sentiment that will capture the main attention of investors.
On the stock market, Bouygues lost 2.49%, the bottom of the SBF 120, after the publication of its quarterly results. JPMorgan analysts underline in a note light key performance indicators for the telecom subsidiary, with 27,000 new customers for the mobile plan base excluding MtoM and 46,000 for the total fixed base.
Faurecia gains 4.64% as Goldman Sachs begins tracking the automotive supplier to “buy”.
Elsewhere in Europe, Philips is taking 2.71% after announcing that independent tests have shown that 95% of respirators affected by a global recall pose limited health risks.
Vodafone lost 2.54% after announcing the loss of 11,000 jobs over three years and disappointing financial forecasts for the year.
In Milan, Telecom Italia dropped 3.47% after a press report that the CDP-Macquarie duo was considering abandoning their takeover bid for the operator’s fixed network.
(Laetitia Volga, edited by Blandine Hénault)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
