PARIS (Reuters) – The main European stock markets are trending upwards on Monday morning while awaiting economic forecasts from the European Commission while the week will be marked by decisions from the European Central Bank (ECB) and inflation figures American.

In Paris, the CAC 40 rose 0.96% to 7,310.50 points around 07:50 GMT. In London, the FTSE 100 rose 0.90% and in Frankfurt, the Dax rose 0.68%.

The EuroStoxx 50 index increased by 0.86% and the FTSEurofirst 300 by 0.90%. The Stoxx 600, which lost almost 1% last week, advanced 0.87%.

Futures contracts on Wall Street also forecast an increase of 0.34% for the Dow Jones, 0.44% for the Standard & Poor’s 500 and 0.61% for the Nasdaq after a Friday session supported by the securities technology thanks to a fall in US Treasury bond yields.

Nine days before the monetary policy decisions of the American Federal Reserve (Fed), the market is counting with a probability of 93% on a pause on rates, but the horizon is more uncertain for the November meeting, shows the Fedwatch barometer of CME Group.

In the euro zone, the Reuters survey predicts that the ECB will also opt for a pause on its rates on September 14, while economists appear very divided for the future.

Before these monetary policy decisions, investors will have read this Monday at 9:00 a.m. GMT the latest economic forecasts in Europe and the inflation figures for August in the United States (Wednesday), for which the Reuters consensus forecasts a deceleration of prices at basic consumption (core CPI) by 4.3% over one year.

On the stock market, the positive trend in Europe is driven by the basic resources compartment (+2.76%) in the wake of the rise in metal prices, investors betting on an improvement in demand in China, despite the economic situation current gloomy situation, particularly in the Chinese real estate sector.

The European real estate index, for its part, gained 1.12% thanks to the hope of a lull in interest rates.

That of new technologies takes 0.52% in the wake of the Nasdaq which rebounded after four consecutive sessions of decline.

The gains are, however, limited by the plunge of Alibaba which surprised the markets by announcing the departure of its former general manager Daniel Zhang from the strategic “cloud” division which is to be split from the group next year.

In other news from listed companies, Covestro gains 3.69% after the announcement of formal discussions with Abu Dhabi National Oil Company (ADNOC) with a view to purchasing the German group for $12 billion.

In Paris, JCDecaux jumped 8.41% thanks to the raising of Oddo BHF’s advice to “outperformance” on the value, while Legrand lost 1.76% after the lowering of Citigroup’s recommendation to “sell” on the title.

Société Générale gains 1.66% after the launch of a 10 billion euro private debt fund with Brookfield.

(Written by Claude Chendjou, edited by Blandine Hénault)

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