PARIS (Reuters) – The main European stock markets are trading in mixed order on Tuesday morning, with slight variations, pending the publication of US inflation figures on Wednesday, while the dollar and bond yields are generally stable.

In Paris, the CAC 40 lost 0.11% to 7,270.28 points around 07:55 GMT. In London, the FTSE 100 rose 0.34% after figures showing a slowdown in the job market. In Frankfurt, the Dax fell by 0.25%, weighed down in particular by SAP.

The EuroStoxx 50 index lost 0.13%, but the FTSEurofirst 300 increased by 0.15% and the Stoxx 600 by 0.13%.

Futures contracts on Wall Street foreshadow stability for the Dow Jones, a drop of 0.26% for the Standard & Poor’s 500 and for the Nasdaq the day after a session in the green supported by Tesla (+10.09% ) and its supercomputer Dojo which fuels optimism in artificial intelligence.

The dollar, which recorded an eighth consecutive weekly session of gains last week, its longest since 2014, ended down 0.5% on Monday and was virtually unchanged on Tuesday.

The rise of the greenback is slowed by the statements of the governor of the Bank of Japan (BoJ), Kazuo Ueda, who suggested that an increase in short-term interest rates in Japan could take place at the end of year, while in China, the authorities are committed to ensuring the stability of the yuan.

Bond yields in the United States are stable, with the ten-year showing at 4.2881% before Wednesday’s publication of consumer prices (CPI) for the month of August, which could show a slowdown in inflation of basis, at 4.3% over one year.

Money markets are largely counting on a pause in rates from the American Federal Reserve (Fed) on September 20, while in the euro zone, the probability of a final 25 point increase in rates from the European Central Bank (ECB) by the end of the year is 80%.

The ECB meets on Thursday and is expected to provide information on rate developments, while the Bank of England (BoE) meeting is scheduled for September 22. Strong wage growth in Britain over the three months to July, published on Thursday, suggests to investors that the BoE could also opt for one last rate hike in the current cycle.

On the stock market, the health sector (+0.71%) supports the indices in Europe, notably Getinge which takes 4.04%.

Conversely, the results of the American Oracle weighed on the European new technologies compartment (-0.37%), especially on the German Dax where SAP fell by 1.57%.

In London, AB Foods, the parent company of Primark, advanced 1.24% thanks to the increase in its profit outlook for the whole year for the second time in four months.

In Paris, Rallye plunged 10.34%, the AMF having imposed a sanction on the parent company of Casino (-3.60%) for market manipulation.

(Written by Claude Chendjou, edited by Blandine Hénault)

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