PARIS (Reuters) – The main European stock markets posted moderate gains on Wednesday morning, investors remaining attentive to the publication of new inflation data in the United States later in the day.
In Paris, the CAC 40 advanced by 0.21% to 7,235.23 points around 07:30 GMT. In London, the FTSE 100 rose 0.32%, against 0.21% for the Dax in Frankfurt.
The EuroStoxx 50 index rose by 0.28%, the FTSEurofirst 300 by 0.20% and the Stoxx 600 by 0.22%.
Futures on Wall Street point to a stable open for the Dow Jones and S&P 500, while the Nasdaq nibbles 0.10%.
Inflation data released at 12:30 GMT on Wednesday will help gauge the transmission of monetary policy to the rest of the economy, and are expected to decline, with core inflation expected to fall to 5.0% on a year in June after 5.3% in May.
“Most investors seem to have made up their minds already: more tightening will be needed. In a sense, this reduces the importance of (Wednesday’s) data for the Fed’s July decision, but not for those that come after. summer,” writes Kenneth Broux, director of corporate research at Societe Generale.
An upward or downward surprise could therefore once again change the expectations of the key rate of the markets, which are currently expecting an additional rate hike after that of July, according to the Fedwatch tool.
(Report Corentin Chapron, edited by Kate Entringer)
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