PARIS (Reuters) – The main European stock markets are up slightly on Friday morning after the record of the Nasdaq index the day before on Wall Street while investors are optimistic about the ebb of inflationary pressures, which could influence the calendar of the expected drop in key rates.

In Paris, around 07:30 GMT, the CAC 40 nibbled 0.06% to 7,932.45 points, getting a little closer to the symbolic threshold of 8,000 points. In Frankfurt, the Dax, which rose the day before to an unprecedented high of 17,742.48 points, gained 0.67%. In London, the FTSE 100 advanced 0.61%.

The EuroStoxx 50 index increased by 0.25%, the FTSEurofirst 300 by 0.39% and the Stoxx 600 by 0.34%.

Futures contracts on Wall Street foreshadow stagnation for the Dow Jones, an increase of 0.13% for the Standard & Poor’s 500 and 0.31% for the Nasdaq the day after a session in the green, driven by a PCE inflation index in the United States in line with expectations for the month of February.

The final indices of activity in the manufacturing sector in the euro zone for the month of February are expected in the morning in the hope that they will confirm the recovery observed in the first estimate while the bloc’s economy recorded zero growth in the fourth quarter.

The market will also take note of preliminary inflation figures in the Eurozone where a slowdown is expected, which could put pressure on central banks to quickly ease monetary policy.

The positive trend in Europe is driven in particular by new technologies (+0.59%) in the wake of the Nasdaq record and the craze for artificial intelligence.

In individual values, Valeo, which presented its objectives for 2025, advanced 1.86% after an operating margin better than expected. The automotive supplier is also benefiting from the increase in new car registrations in France in February. Stellantis and Renault gained 0.91% and 1.37% respectively.

On the downside, Vallourec fell 4.98%, the manufacturer of seamless steel tubes having reported a decline in its quarterly profit, while Saint-Gobain lost 1.91% after the presentation of its annual results marked by a 6.4% drop in turnover.

Elsewhere in Europe, Daimler Truck jumped 12.23% thanks to an annual profit higher than expectations and an increase in the dividend paid to shareholders.

The Italian defense group Leonardo (+3.16%), which slightly exceeded its orders, cash flow and debt targets for 2023 on Thursday, is in demand.

Pearson is up 3.16% after publishing operating profit for 2023 up 31% and in line with expectations, in a context of strong demand for English courses.

The Swiss logistics group Kuehne Und Nagel plunged 11.39% after an annual operating profit down 49%.

(Writing by Claude Chendjou, edited by Kate Entringer)

Copyright © 2024 Thomson Reuters