PARIS (Reuters) – The main European stock markets showed slight variations on Thursday morning in a consolidation movement after the sharp increase in recent sessions linked to the ebb of inflationary pressures in Europe and the United States.
In Paris, the CAC 40 lost 0.17% to 7,197.47 points around 08:40 GMT. In London, the FTSE 100 fell 0.04%. In Frankfurt, the Dax gained 0.41%, supported by industrial stocks like Siemens.
The EuroStoxx 50 index gained 0.04%. The FTSEurofirst 300 lost 0.09% and the Stoxx 600 0.08%.
Futures contracts on Wall Street predict quasi-stability (+0.01%) for the Dow Jones and a decline of 0.08% for the Standard & Poor’s 500 and 0.23% for the Nasdaq the day after a session in the green marked by the publication of the monthly producer price statistics (PPI) in the United States which showed a greater decline than expected after the positive surprise in consumer prices (CPI) on Tuesday.
In Europe, inflation indicators published on Wednesday in the United Kingdom, France and Italy also confirmed a slowdown in price increases while the figures for the entire euro zone will be known on Friday.
Investors are now digesting this avalanche of data while waiting for other indicators in the United States such as the “Philly Fed” activity index for the month of November, industrial production and the Nahb survey on the real estate market , while the markets are still betting on a rate cut by the major central banks next year.
Interventions from central bankers are also expected during the day, in particular that of Christine Lagarde, the president of the European Central Bank (ECB), from 11:30 GMT.
On the stock market, company publications are livening up trading in Europe, particularly in the luxury sector which fell by 0.92% after Burberry’s warning of the slowdown in luxury spending around the world which could threaten its forecasts.
In its wake, LVMH lost 1.43% and Kering 1.62%.
In other sectors, Vallourec jumped 5.56% after raising its forecast for annual gross operating profit (RBE), while Siemens (+5.23%) was driven by a quarterly profit in its higher industrial division. expectations to.
Embracer, the Swedish video game publisher, owner of the Tomb Raider franchise, soared to 14.68 thanks to better-than-expected quarterly profit.
On the downside, Hellofresh, at the bottom of the Stoxx 600, plunged 21.14% after lowering its forecasts for operating profit and turnover for the year.
(Written by Claude Chendjou, edited by Blandine Hénault)
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