PARIS (Reuters) – The main European stock markets are moving higher at the start of the session on Friday as the equity markets as a whole benefit from the optimism of investors on an upcoming agreement concerning the raising of the debt ceiling in the United States. .
In Paris, the CAC 40 gained 0.43% to 7,478.76 points around 07:48 GMT. In London, the FTSE 100 takes 0.3% and in Frankfurt, the Dax advances by 0.38%.
The EuroStoxx 50 index is up 0.47%, the FTSEurofirst 300 by 0.45% and the Stoxx 600 by 0.47%.
The European indices have already progressed the day before on these same hopes concerning the American debt, Wall Street ended in the green and in Asia, the Nikkei touched a 33-year peak on Friday.
US President Joe Biden held a phone meeting on Friday with his dedicated debt ceiling negotiating team as he travels to Japan for the G7 summit.
“The president’s team has informed him that steady progress is being made,” a White House official said.
Joe Biden is expected to resume discussions with Republican House of Representatives boss Kevin McCarthy upon his return to the United States on Sunday to find an agreement to raise the government’s borrowing limit.
Beyond this news, market operators have little to digest, the session being calm on the corporate front as well as economic indicators.
They will, however, follow at 15:00 GMT a speech by Federal Reserve Chairman Jerome Powell at a conference in Washington. European Central Bank (ECB) President Christine Lagarde is due to speak at 7:00 p.m. GMT via video recording at a conference in Sao Paulo, Brazil.
(Written by Blandine Hénault, edited by Kate Entringer)
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.
