PARIS (Reuters) – The main European stock markets are moving in the green at the start of the session on Tuesday with the prospect of increased support from Beijing for the Chinese economy, but persistent questions about the global economy are curbing risk taking.
In Paris, the CAC 40 gained 0.2% to 7,198.60 points at 07:48 GMT. In London, the FTSE 100 takes 0.21% and in Frankfurt, the Dax advances by 0.07%.
The EuroStoxx 50 index is up 0.31%, the FTSEurofirst 300 0.17% and the Stoxx 600 0.08%.
Concerns over the abortive mutiny of the Russian Wagner Group aside, investors are focusing on the usual market catalysts, namely the economy and monetary policy.
On this front, they will be attentive to the declarations of the leaders of the major central banks of the world, gathered until Wednesday in Sintra, in Portugal, for the annual forum organized by the European Central Bank (ECB).
In China, Prime Minister Li Qiang announced that growth will be higher in the second quarter than in the first three months of the year and that Beijing would deploy more effective policies to boost domestic demand in particular.
This prospect offers a small boost to British mining stocks Rio Tinto and Glencore, which take 0.64% and 0.26% respectively.
Luxury stocks are also well oriented: LVMH gains 1.01% and Kering 1.35%.
Accor takes 0.86% after raising its annual forecast and announcing its intention to open more than 1,200 hotels in the next five years.
The manufacturer of motorhomes Trigano gives up 7.09% after the publication of its quarterly turnover of 1.03 billion euros.
(Laetitia Volga, edited by Blandine Hénault)
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