PARIS (Reuters) – European stock markets, with the exception of Footsie, ended a session with no notable events on Monday, with investors positioning themselves ahead of American inflation on Tuesday.
In Paris, the CAC 40 gained 0.55% to 7,689.8 points, while the German Dax advanced 0.65% and the British Footsie finished stable.
The EuroStoxx 50 index ended the session with an increase of 0.58%, compared to 0.46% for the FTSEurofirst 300 and 0.53% for the Stoxx 600.
US household inflation expectations for January were the only notable indicator released on Monday.
These expectations remain stable, which encourages investors to bet that the risk of a rebound in price dynamics has passed.
However, the markets will be focused on the publication of the CPI inflation index in the United States on Tuesday, which could force investors to revise their economic outlook for 2024.
A burst of indicators is expected this week on both sides of the Atlantic and will liven up trade, especially as the markets are showing “complacency”, according to Alexandre Baradez, head of market analysis at IG France .
“For a month and a half, investors (have been buying) the good macroeconomic figures considering that it is excellent news if the American economy manages to perform in an environment of high rates,” summarizes the analyst, while investors conversely bought the bad news a few months earlier.
In a context of high valuations, surprises on the indicators could therefore have a significant impact.
Furthermore, the results season will continue this week in Europe.
VALUES
Believe’s listing was suspended after the digital music group announced it had received a takeover offer from a consortium.
L Catterton announced a takeover bid for Tod’s shares with a view to delisting the stock, which caused the Italian group to gain 18.37%.
Saras lost 3.73% after the Moratti family announced the sale of 35% of the capital to the raw materials trading group Vitol at a price of 1.75 euros per share.
BofA Global Research upgraded Siemens Energy from “neutral” to “buy”, saying the worst is over for wind turbine division Siemens Gamesa and that non-wind businesses should boost earnings. The title gained 5.72%.
Delivery groups jumped after a note from Deutsche Bank, which said it was “more optimistic” about the sector. Just Eat Takeaway.com gained 8.78%, compared to 1.17% for Deliveroo and 4.5% for Delivery Hero.
A WALL STREET
Wall Street is up slightly in the absence of notable events.
At closing time in Europe, trading on the New York Stock Exchange indicated an increase of 0.54% for the Dow Jones, compared to 0.40% for the Standard & Poor’s 500 and 0.49% for the Nasdaq. Composite.
RATE
European yields remained stable in a wait-and-see environment.
At the close of the European interest rate markets, the ten-year US Treasury yield was stable at 4.189%, compared to 4.4822% for the two-year rate.
The German ten-year yield lost 1.1 basis points to 2.368%, while the two-year yield eroded by 1.6 bps to 2.7072%.
CHANGES
The euro is weakening against the dollar, supported by the latest figures from the Federal Reserve on household inflation expectations.
The dollar is stable against a basket of reference currencies, while the euro lost 0.08% to 1.0773 dollars. The pound sterling is stalling at $1.2626.
OIL
Crude prices are falling under the pressure of profit-taking.
Brent fell 0.72% to 81.6 dollars per barrel, American light crude (West Texas Intermediate, WTI) lost 0.39% to 76.54 dollars.
TO BE CONTINUED ON TUESDAY:
(Written by Corentin Chappron, edited by Bertrand Boucey)
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