(Reuters) – European stock markets ended higher on Friday, with investors remaining cautious ahead of this week’s publication of inflation data which should provide clues to the monetary trajectory on both sides of the Atlantic.
In Paris, the CAC 40 finished up 0.6% at 7,087.06 points. The British Footsie gained 0.89% and the German Dax 0.73%.
The EuroStoxx 50 index ended with a gain of 0.83%, the FTSEurofirst 300 by 0.75% and the Stoxx 600 by 0.75%.
Investors remain on the lookout for new clues on the direction of interest rates in Europe and the United States, with a wait-and-see attitude prevailing without indicators expected during the day and before the publication of American inflation figures on Tuesday, those of the United Kingdom on Wednesday and those of the euro zone on Friday.
“There’s not much happening, we’re stuck between what happened last week and what’s coming this week, and Bund yields are consolidating at the lower end of the range,” Broux said. , analyst at Société Générale.
However, uncertainties remain, and Christine Lagarde, president of the European Central Bank (ECB), warned on Friday that prices in the euro zone could rise in the coming months.
The institution’s vice president, Luis de Guindos, said on Monday that Frankfurt would have more information in December to reassess the inflation outlook and the required economic policy measures.
The increase in oil prices after the publication of the monthly report of exporting countries supported the European energy index, which ended with a gain of 1.32%, as well as the shares of the majors Shell (+1.25 %) and BP (+1.43%).
Among the best performers on the Stoxx 600, Phoenix Group jumped 5.6%, after the insurer raised its full-year cash flow forecast on Monday.
British Land gained 1.8% as the property company said it expected annual rental growth to be at the high end of its previous forecast.
In Paris, Technip Energies fell 0.3% after Barclays lowered its recommendation to “underweight” from “overweight”.
Orpea dropped by 14.4%, the nursing home group having announced a first capital increase of around 3.9 billion euros.
A WALL STREET
At closing time in Europe, the Dow Jones rose again after its losses at the start of the session and advanced 0.28% and the Standard & Poor’s 500 gained 0.09%, while the Nasdaq Composite lost 0 .02%.
Technology stocks such as Microsoft, Amazon.com and Apple are falling as US 10-year bond yields rise.
Boeing advances 4.2% after Bloomberg reported that China plans to resume purchases of 737 Max planes.
The dollar fell (-0.21%) against a basket of reference currencies, while the euro gained 0.17% to 1.0699 dollars.
Bond yields in the euro zone ended with a small increase on Monday, but caution remains in order before the key meetings of the week.
The German ten-year yield gained 1 basis point to 2.719%, and that of the two-year rate rose more than 2 basis points to 3.17%.
American bond markets are stable at the close in Europe after having progressed slightly with Moody’s decision to lower the outlook for the credit rating of American public debt on Friday.
The yield on the ten-year bond is 4.6379%, and the two-year bond is 5.0454%.
Oil prices are rising after the release of a monthly OPEC report that eased market concerns about falling demand in the United States and China and slightly raised oil growth forecasts. global demand for 2023.
Brent rose 1.58% to $82.72 per barrel, with American light crude (West Texas Intermediate, WTI) increasing 1.68% to $78.47 CLc1.
(Written by Augustin Turpin and Diana Mandiá)
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