PARIS (Reuters) – European stock markets fell on Tuesday, before new comments from monetary policy officials and after several restrictive statements from central bankers.
In Paris, the CAC 40 lost 0.5% to 7,374.39 points around 08:39 GMT. In Frankfurt, the Dax lost 0.63%, compared to 0.6% for the FTSE in London.
The pan-European FTSEurofirst 300 index fell by 0.6%, the EuroStoxx 50 by 0.56% and the Stoxx 600 by 0.52%.
New York index futures suggest Wall Street opening lower, after a long weekend. The Dow Jones is expected to fall by 0.47%, compared to 0.53% for the Standard & Poor’s 500 and 0.79% for the Nasdaq.
Markets are positioning themselves ahead of the intervention of Federal Reserve Board of Governors member Christopher Waller, who is due to speak at 16:00 GMT on Tuesday.
Christopher Waller favors higher rates for longer, and could argue for a more sustainably restrictive monetary policy this year.
François Villeroy de Galhau, member of the board of governors of the European Central Bank, also warned at the World Economic Forum in Davos on Tuesday that it was still too early to declare victory over inflation, even if he recognized that the The ECB’s next action would likely be a rate cut.
Several other European monetary policy makers – Joachim Nagel, Robert Holzmann and Philip Lane – have also said in recent days that it is too early to cut rates.
In terms of values, Lindt & Spruengli jumped 5.01% after announcing that its sales growth had exceeded market expectations in 2023.
Hugo Boss drops 9% after publishing quarterly results below expectations.
(Written by Corentin Chappron, edited by Blandine Hénault)
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