PARIS (Reuters) – Apart from London, the main European stock markets are moving upwards on Wednesday at the start of the session, but without much conviction, for the penultimate session of a month of November which was particularly favorable for equity indices.
In Paris, the CAC 40 gained 0.29% to 7,271.43 points around 08:45 GMT. In Frankfurt, the Dax advanced by 0.65% while in London, the FTSE 100 lost 0.55% with the decline in financial values.
The EuroStoxx 50 index is up 0.44%, the Stoxx 600 is up 0.3% while the FTSEurofirst 300 is virtually unchanged (+0.01%).
Since the beginning of November, the Stoxx 600 has posted a gain of 5.5%, its best monthly performance since January 2023.
Equity markets were buoyed by the prospect of an end to the monetary tightening cycle of the major central banks and expectations of a rate cut from next year.
Many monetary policy makers have since tried to temper these expectations, emphasizing that the fight against inflation is not over, which has prompted consolidation on stock market indices in recent days.
In terms of values, Philips fell 6.14% after a warning from the American health authority, the FDA, on the use of sleep apnea devices manufactured by the Dutch group.
In Paris, TotalEnergies lost 1.75%, bottom of the CAC 40, affected by a downgrade of Jefferies’ advice to “keep” versus “buy”.
(Written by Blandine Hénault,)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
