PARIS (Reuters) – The main European stock markets are moving without a clear trend at the start of the session on Monday with questions about monetary policy, while the rise in oil prices provides support for stocks in the sector.

In Paris, the CAC 40 lost 0.05% to 7,267.30 points around 07:48 GMT. In London, the FTSE 100 takes 0.58% and in Frankfurt, the Dax advances by 0.17%.

The EuroStoxx 50 index is up 0.04%, the FTSEurofirst 300 0.17% and the Stoxx 600 0.09%.

The broad European Stoxx 600 index gained 1.5% on Friday and the CAC 40 more than 1.87%, thanks in particular to speculation on a status quo of the Federal Reserve next week.

While the US jobs report in May showed an acceleration in job creation, the unemployment rate still rose and wage growth slowed, which could lead the Fed not to touch its rates the next day. June 14, according to observers.

But the latter do not exclude that the institution proceeds to a new increase in July, after a “hawkish break”.

“The market sentiment is that if the Fed stalls in June and the stock market continues to rally, it may have to do more hikes after that, not just one,” said Naka Matsuzawa, chief strategist. at Nomura Securities.

The energy compartment posted the strongest sectoral growth, its Stoxx index taking 0.82% with the rise in crude prices, which benefited from the announcement by Saudi Arabia of a reduction in its production in July.

In Paris, TotalEnergies grants itself 0.96%. The British “majors” Shell and BP gained 0.94% and 1.03% respectively.

Asos climbed 11.42% after the Sunday Times reported that the online fashion site received an offer in December from Turkish competitor Trendyol – backed by Alibaba – for £1bn.

Luxury giants Kering, Hermès and LVMH lost 0.59% to 0.95% on profit taking.

(Laetitia Volga, edited by Blandine Hénault)

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