PARIS (Reuters) – The main European stock markets are moving on a cautious note on Thursday morning, with investors looking to the United States Federal Reserve (Fed) and the European Central Bank (ECB) which hold their respective policy meetings next week. monetary.

In Paris, the CAC 40 lost 0.05% to 7,198.95 points around 08:00 GMT. In London, the FTSE 100 nibbles 0.01% and in Frankfurt, the Dax grabs 0.03%.

The EuroStoxx 50 index fell by 0.15%, the FTSEurofirst 300 by 0.01% and the Stoxx 600 by 0.14%.

Futures contracts on indices in the United States foreshadow for their part a slight decline on Wall Street the day after a session marked by profit taking, particularly in the new technologies sector.

Investors are awaiting decisions from the Fed and the ECB on June 14-15 as this week’s surprise interest rate hikes from the Central Bank of Australia (RBA) and the Bank of Canada ( BoC) increased uncertainty about the scenario of an imminent end to the current monetary tightening cycle.

In the bond markets, yields rose slightly, with the ten-year German gaining around two basis points, to 2.454%, while the two-year briefly touched the 3% threshold for the first time since March 15.

The yield on ten-year US Treasury bonds also rose, to 3.7973%.

The compartment of new technologies in Europe (-1.1%) shows the largest drop in the Stoxx 600 in the wake of the sharp decline in the Nasdaq the day before. In Paris, Capgemini (-1.56%) is at the bottom of the CAC40, while on the SBF120, Soitec is in the red after the publication of annual results.

Novartis, up 0.63%, is benefiting from the group’s announcement that its soon-to-be-split Sandoz generics division is expected to generate $3 billion in additional net sales over the next five years.

(Written by Claude Chendjou, edited by Kate Entringer)

Copyright © 2023 Thomson Reuters