PARIS (Reuters) – The main European stock markets showed slight variations on Monday morning, due to a lack of major economic indicators to allow further gains after a solid week marked by further easing in the bond compartment.

In Paris, the CAC 40 gained 0.19% to 7,247.47 points around 07:50 GMT. In London, the FTSE 100 fell by 0.31%, thanks in particular to oil stocks. In Frankfurt, the Dax lost 0.11%.

The EuroStoxx 50 index and the FTSEurofirst 300 each fell by 0.10%. The Stoxx 600, which gained almost 3% last week and is on track to achieve its first monthly gain since August, is virtually unchanged (-0.06%).

Futures contracts on Wall Street predict an almost stable opening for the Dow Jones and the Standard & Poor’s 500, compared to a decline of 0.13% for the Nasdaq.

Investors are in a digestion phase while awaiting in particular during the week the PMI activity indices in Europe, scheduled for Thursday, and the minutes of the meeting of the American Federal Reserve (Fed) of October 31 and November 1, scheduled for Tuesday. .

The only major macroeconomic indicator of the day in Europe, producer prices in Germany, confirmed a further easing of inflationary pressures, with a contraction of 11% year-on-year.

Traders are betting on a full European Central Bank (ECB) rate cut of 100 basis points by the end of 2024, while cuts are also expected from the Fed and Bank of England. next year.

On the bond market, the yield on the ten-year German Bund, which fell on Friday during the session to its lowest since September 1, at 2.517%, is practically stable on Monday, at 2.603%.

On the European stock market, the positive trend is led by the energy sector (+0.15%), while the health sector (-0.64%) shows one of the biggest declines in the Stoxx 600.

Bayer plunged 14.39% after announcing the interruption of a large clinical trial on its new anticoagulant drug, Asundexian, which proved insufficiently effective.

(Writing by Claude Chendjou, edited by Kate Entringer)

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