PARIS (Reuters) – The main European stock markets are oriented cautiously higher on Thursday morning, continuing to benefit from optimism on the imminent end of the monetary tightening cycle of the American Federal Reserve (Fed) in view of the latest figures on the evolution of consumer prices in the country.
In Paris, the CAC 40 took 0.11% to 7,340.84 points around 07:35 GMT. In London, the FTSE 100 advances by 0.01% and in Frankfurt, the Dax gains 0.03%.
The EuroStoxx 50 index rose by 0.12%, the FTSEurofirst 300 by 0.12% and the Stoxx 600 by 0.15%.
Futures contracts on Wall Street predict a rise of 0.1% for the Dow Jones, 0.24% for the Standard & Poor’s 500 and 0.48% for the Nasdaq the day after a session where the index flagship technology stocks rose more than 1%.
Risk appetite in markets is fueled by data released on Wednesday by the US Department of Labor which showed that consumer price inflation (CPI) in the US slowed in June, at the weakest pace for more than two years.
Investors are now waiting for the producer price (PPI) figures in the United States, expected at 12:30 GMT, to confirm or not this prospect.
On the bond market, the yield on ten-year US Treasury bonds, which fell 12 basis points on Wednesday, fell another 2.5 points on Thursday to 3.8201%. The same trend can be seen on the German Bund of the same maturity, which fell by nearly five points, to 2.474%.
On the stock market, the European new technologies compartment (+0.75%) recorded the best performance of the Stoxx 600.
In values, in Paris, Casino plunged 4.46% after a downward revision of its sales estimate for the second quarter, which led the distributor to ask candidates for its takeover to present their revised offers for restructuring here Friday 19:00 GMT.
Its competitor Carrefour takes 0.78% after concluding an agreement with the Louis Delhaize group for the purchase of the Cora and Match brands in France.
On the SBF 120, Orpea fell 1.44% after lowering its outlook for this year.
Elsewhere in Europe, Swatch Group jumped 4.8% on the back of record sales in the first half, while Barry Callebaut, supplier to Unilever and Nestlé lost 1.47%, after the announcement of a drop in its nine-month volume sales.
(Written by Claude Chendjou, edited by Kate Entringer)
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