by Diana Mandia

(Reuters) – European stock markets ended lower on Tuesday, with the exception of London, with a wait-and-see attitude before the publication of US inflation figures and the decision of the European Central Bank (ECB) on rates .

In Paris, the CAC 40 ended down 0.35% at 7,252.88 points. The British Footsie, supported by export values ​​with the weakening of the pound following data on the British labor market, gained 0.41%, while the German Dax lost 0.54%.

The EuroStoxx 50 index fell by 0.28%, the FTSEurofirst 300 by 0.16% and the Stoxx 600 by 0.17%.

Caution prevailed before the publication of US inflation figures on Wednesday and the next decisions on interest rates from the European, American and British central banks in the coming days after a series of mixed indicators.

The European Central Bank (ECB), which meets on Thursday, should opt for the status quo in September but proceed with a final increase of 25 points by the end of the year, according to market estimates.

The decision of the Frankfurt institute will precede those of the American Federal Reserve (Fed) on September 20 and the Bank of England (BoE) two days later. Rising unemployment in the UK suggests that the BoE’s expected rate hike could be the last of the current cycle.

Despite signs of weakness in the labor market, the British Statistical Office (ONS) reported strong wage growth and the incoming Deputy Governor of the Bank of England (BoE), Sarah Breeden, declared on Tuesday that the inflationary risk seemed to be increasing.

Economic fears persist, particularly in China, which risks posting weaker-than-expected growth this year and next due to continued difficulties in its property market, according to a Reuters survey of economists.


In terms of values, the technology compartment lost 0.6%, weighed down by SAP, which fell 1.7% after disappointing forecasts from its American counterpart Oracle for the current quarter.

Primark’s parent company, Associated British Foods, which raised its annual profit forecast for the second time in four months, rose 5.3%.

In Paris, Rallye plunged 15.3%, the AMF having imposed a sanction on the parent company of Casino (-5.3%) for market manipulation.

Airbus for its part lost 2.3% after engine manufacturer Pratt & Whitney warned on Monday against a manufacturing defect likely to ground hundreds of planes in the years to come.

In Milan, Campari dropped 4.2% after the announcement of the departure of its general director, Bob Kunze-Concewitz, who will leave his position in April 2024.


At closing time in Europe, the Dow Jones gained 0.17%, while the Standard & Poor’s 500 lost 0.28% and the Nasdaq Composite 0.62%.

The provider of dematerialized IT services Oracle, which announced Monday evening that it anticipates a turnover for the current quarter lower than analysts’ expectations, drops 11.3%.


German investor sentiment improved unexpectedly in September, according to economic research institute ZEW, while consumer prices in Spain rose in August as fuel prices rose, figures showed on Tuesday final published by the National Institute of Statistics (INE).


The dollar is regaining ground after recording its biggest daily decline on Monday since July 13. It gained 0.18% against a basket of reference currencies, while the euro fell 0.22% to 1.0724 dollars.

The British pound fell 0.26% to $1.247 following mixed data on the jobs market.


Bond yields changed little on Tuesday pending US inflation and central bank decisions.

The ten-year German Bund yield ended virtually unchanged at 2.64% while the two-year yield stood at 3.12%.

The American bond markets also move with small variations: the yield on ten-year Treasuries is at 4.2841% and that at two years at 5.001%.


The oil market is rising, boosted by a tightening supply outlook and optimism from OPEC, which on Tuesday maintained its forecast for robust growth in global oil demand in 2023 and 2024.

Brent advanced 1.72% to $92.2 per barrel, with American light crude (West Texas Intermediate, WTI) gaining 2.05% to $89.08.


European Commission President Ursula von der Leyen is due to deliver her State of the Union address at 9am.

(Some data may have a slight lag)

(Written by Diana Mandiá)

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