PARIS (Reuters) – European markets opened in mixed order on Monday, driven by several company results and before a week full of monetary policy events.
In Paris, the CAC 40 advanced 0.10% to 7,641.12 points around 08:43 GMT. In Frankfurt, the Dax lost 0.28%, compared to an increase of 0.11% for the FTSE in London.
The pan-European FTSEurofirst 300 index gained 0.11%, the EuroStoxx 50 was stable and the Stoxx 600 gained 0.1%.
Futures on New York indices suggest a hesitant opening on Wall Street, the Dow Jones and the Standard & Poor’s 500 not showing a marked direction, while the Nasdaq is expected to gain 0.24%.
In stocks, Eutelsat, Phillips and Wacker Chemie are making the indices react on Monday, while numerous company results are expected this week, including those of several European banks and Novo Nordisk.
The markets are also positioning themselves before the next monetary policy meeting of the Federal Reserve, which will be held on Wednesday.
The US central bank is expected to maintain rates at their current levels, but investors will be attentive to comments from its governor, Jerome Powell, who could comment on the prospects of rate cuts, with markets remaining positioned for monetary easing of 135 basis points this year, starting in May.
In terms of values, Eutelsat fell by 15.78% after having revised its results outlook downward for the 2023-2024 financial year, and dragged down the SES satellite group, which fell by 3.92%.
Philips fell 5.36% after its fourth quarter results.
(Written by Corentin Chappron, edited by Kate Entringer)
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