PARIS (Reuters) – The main European stock markets, driven in particular by the insurance sector, are trying on Wednesday morning to record a third consecutive session in the green before several key macroeconomic indicators expected during the day, including the figures of inflation.
In Paris, the CAC 40 took 0.33% to 7,398.06 points around 07:50 GMT. In London, the FTSE 100 advances by 0.52% and in Frankfurt, the Dax gains 0.05%.
The EuroStoxx 50 index rose by 0.22%, the FTSEurofirst 300 by 0.08% and the Stoxx 600 by 0.21%.
Futures on Wall Street point to stability for the Dow Jones, Standard & Poor’s 500 and Nasdaq in the aftermath of a session in the green linked to hopes of a halt in the rise in interest rates in the United States, the job market showing signs of slowing down.
The US Department of Labor’s Jolts survey on Tuesday showed the country’s job openings fell for the third consecutive month to 8.827 million in July, the lowest level since March 2021. Investors are now awaiting the results of the survey. monthly survey by the ADP cabinet on private employment, scheduled for 12:15 GMT before the official report on job creations, wages and the unemployment rate on Friday.
In addition to employment, the PCE price index in the United States and inflation in Germany are also on the agenda of the day’s indicators. In Spain, inflation calculated according to European standards, came out on Wednesday slightly below expectations over one year in August, at 2.4%.
On the stock market in Europe, on the CAC 40, Eramet plunged 17.71%, the French mining group having decided to suspend its operations in Gabon due to the ongoing coup attempt. TotalEnergies Gabon fell by 13.51%.
Casino yields 5.05%, the rating agency Fitch having lowered on Tuesday the default rating for the long-term foreign currency issues of the distributor.
From a sectoral point of view, the European insurance compartment (+0.71%) is also driving trade with Direct Line Insurance Group in particular, which takes 1.89% after the group’s decision to appoint Adam Winslow, a defector from Aviva, at its head.
The Dutch insurer ASR Nederland (-1.56%), on the other hand, is in the red after its half-year results, while Prudential climbs 3.52% thanks to an increase in its profit in the first half.
(Written by Claude Chendjou, edited by Kate Entringer)
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