PARIS (Reuters) – The main European stock markets are moving up slightly on Monday morning for the first session of the quarter and the half in a context of cautious appetite for risk after recent economic indicators deemed reassuring.
In Paris, the CAC 40 took 0.2% to 7,414.62 points around 07:40 GMT. In London, the FTSE 100 advances by 0.27% and in Frankfurt, the Dax gains 0.27%.
The EuroStoxx 50 index rose by 0.33%, the FTSEurofirst 300 by 0.35% and the Stoxx 600 by 0.22%.
Futures contracts on Wall Street predict a stable opening for the Dow Jones and the Standard & Poor’s 500 and a rise of 0.13% for the Nasdaq. This last index, with a strong technological component, posted over the first six months of the year its strongest growth in 40 years for a first half, driven by stocks such as Apple whose capitalization once again crossed the mark of 3,000 billion dollars on Friday.
Tesla, another growth stock, is listed up 4.3% on the Frankfurt Stock Exchange as the automaker reported record second-quarter vehicle deliveries on Sunday.
The technology segment is supported by the decline in bond yields following the publication on Friday of the PCE price index in the United States, closely followed by the Fed, which shows a marked slowdown in inflation in June year on year , at 3.8%.
This slowdown is taking place as the US economy continues to show surprising dynamism in the light of the latest indicators, which removes the specter of a brutal recession.
The publication scheduled for the day of the monthly indicators of manufacturing activity in the United States and Europe will be closely monitored in this regard.
In equity markets in Europe, the positive trend is led by basic resources (+1.33%) on the hope of further stimulus measures in China, the country’s manufacturing PMI, calculated by Caixin/ S&P Global, having shown a slowdown in activity in June, to 50.5 after 50.9 in May.
In Paris, Casino unscrews by 15.13% after a request for a moratorium on its debt while the deadline for filing the group’s takeover offers is set for Monday.
Generali jumped 4.86%, the Italian insurance regulator having announced that it had authorized Delfin to hold a stake of more than 10% in the group.
(Written by Claude Chendjou, edited by Kate Entringer)
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