PARIS (Reuters) – The main European stock markets rose slightly on Friday morning, ending seven straight sessions in the red, thanks to a decline in the dollar and an easing in the bond market at the end of a week marked by fears about inflation and the policies of the major central banks.

In Paris, the CAC 40 climbed 0.09% to 7,202.79 points around 07:45 GMT. In London, the FTSE 100 advances by 0.11% and in Frankfurt, the Dax gains 0.08%.

The EuroStoxx 50 index rose by 0.16% and the FTSEurofirst 300 by 0.14%. The Stoxx 600, which on Thursday showed its worst series of declines in a row since February 2018, took 0.12%.

Over the week as a whole, the CAC 40 has lost 1.27% at this stage and the pan-European Stoxx 600 index 0.86%.

Futures on Wall Street also point to a rise of 0.09% for the Dow Jones, 0.11% for the Standard & Poor’s 500 and 0.19% for the Nasdaq overnight in dispersed order marked by new fall of Apple. The apple group lost $200 billion in market capitalization in two sessions after reports that the iPhone could be banned in Chinese administrations.

The technical rebound in the equity markets does not, however, put an end to the fundamental concerns linked to the latest macroeconomic data. Consumer price inflation in Germany, the euro zone’s largest economy, was confirmed on Friday at 6.4% year on year in August, well below the European Central Bank’s (ECB) 2% target, which meets next Thursday.

A Reuters survey, published on Friday, shows that the ECB should opt for the status quo or a slight hike of 25 basis points in rates this month. Economists are however divided for the future, some estimating that the deposit rate of the bank could peak at 4.00% against 3.5% currently.

In the meantime, on the bond market, the yield of the ten-year German Bund, which hit a peak in the week since August 22 at 2.664%, fell to 2.603%.

The dollar lost 0.11% against a basket of major currencies, although it could record its eighth straight increase over the week, the longest series since 2014.

On the stock market, the European new technologies sector rebounded by 0.47%, notably with Paris Worldline (+1.32%), STMicroelectronics (+1.02%) and Dassault Systèmes (+0.43%). Luxury, considered to belong to growth stocks, is also sought after: LVMH, Hermès and L’Oréal take 0.16% to 0.72%.

In the other compartments, Casino fell by 1.81% while Euronext announced Thursday the exclusion of the distributor in difficulty from the SBF 120 index as of September 18.

Saipem advanced 1.73% as the Italian energy services group announced it had won new offshore contracts worth 850 million euros.

(Written by Claude Chendjou, edited by Blandine Hénault)

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