PARIS (Reuters) – European stock markets fell in early trading on Monday before a week full of indicators.
In Paris, the CAC 40 lost 0.19% to 7,951.28 points around 08:20 GMT compared to a drop of 0.14% for the FTSE in London. In Frankfurt, the Dax is practically stable (-0.02%).
The pan-European FTSEurofirst 300 index fell by 0.14%, the EuroStoxx 50 by 0.12% and the Stoxx 600 by 0.15%.
New York index futures suggest Wall Street opening in decline, with the Dow Jones falling 0.11%, compared to 0.17% for the Standard & Poor’s 500 and 0.23% for the Nasdaq.
Several indicators are expected in the euro zone this week, including inflation for February on Friday. Final manufacturing PMI indicators are also due on Friday, while a set of Eurozone stakeholder confidence data will be released on Wednesday.
The risks are oriented upwards on inflation, note ING strategists who note that France will reintroduce energy taxes which had been lifted to limit price increases.
The President of the European Central Bank, Christine Lagarde, should therefore exercise caution on Monday during the presentation of the ECB’s annual report at 4:00 p.m. GMT before the European Parliament in Strasbourg.
In terms of values, Tele2 jumped 8.39%, at the top of the Stoxx 600, after Iliad and Xavier Niel announced that they were acquiring a 19.8% stake in the Swedish telecommunications operator for 13 billion crowns (1.16 billion euros).
(Written by Corentin Chappron, edited by Blandine Hénault)
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