PARIS (Reuters) – European markets are declining before a week marked by the meeting of many central banks, including the Federal Reserve, and before the publication of inflation data in Europe.

In Paris, the CAC 40 fell 0.68% to 7,328.49 points around 07:30 GMT. In Frankfurt, the Dax lost 0.36%, compared to 0.42% for the FTSE in London.

The pan-European FTSEurofirst 300 index lost 0.42%, the EuroStoxx 50 0.56% and the Stoxx 600 0.47%.

Futures on New York indices suggest a hesitant opening on Wall Street, with the Dow Jones, Standard & Poor’s 500 and Nasdaq expected to be stable.

Investors are positioning themselves cautiously ahead of a week full of monetary policy events.

Six central banks from developed countries will meet this week, but markets will be focused on the Federal Reserve, which will decide on the path of US rates on Wednesday as uncertainty grows over the outlook for inflation across the Atlantic.

Furthermore, the publication of European inflation data on Tuesday calls for caution, while the European Central Bank surprised by raising its rates during its last meeting.

In values, Société Générale lost 6.93%, its worst performance in six months, after the group announced strategic objectives showing a slowdown in the growth of its turnover.

Unibail-Rodamco gained 1.57%, at the top of the CAC 40, after Barclays raised its recommendation to “outperform”.

(Written by Corentin Chappron, edited by Blandine Hénault)

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