PARIS (Reuters) – The main European stock markets, apart from London, are trending downward on Monday on profit-taking after recent index records and in a wait-and-see context before the publication of several indicators during the week, including inflation .

In Paris, the CAC 40, which last week exceeded the threshold of 8,000 points, lost 0.26% to 8,007.50 points around 08:40 GMT. In Frankfurt, the Dax fell by 0.54% after reaching a peak last week at 17,879.11 points. In London, the FTSE 100 gained 0.06%.

In Lisbon, the PSI 20 index dropped 0.03% after the victory of the center right and the breakthrough of the far right in the legislative elections.

The EuroStoxx 50 index fell by 0.66% and the FTSEurofirst 300 by 0.27%. The Stoxx 600, which also reached a record during the session on Friday at 504.6 points, lost 0.32%.

Futures contracts on Wall Street forecast a drop of 0.18% for the Dow Jones, 0.17% for the Standard & Poor’s 500 and 0.26% for the Nasdaq after a volatile session on Friday linked to mixed data on American employment for the month of February.

Investors are now waiting, from Tuesday, for monthly data on price developments in several euro zone countries, the United Kingdom and the United States.

These new statistics should reinforce the tendency for inflationary pressures to recede at the risk of disappointing as several central bankers have recently opened the way to a relaxation of monetary policy.

In China, where the economy is facing weak demand and a crisis in the real estate sector, the 0.7% annual rebound in consumer prices in February was well received by the markets.

On the stock market in Europe, the new technologies sector, down 1.7% and the biggest drop in the Stoxx 600, follows in the wake of the Nasdaq and the continuation of profit taking on Nvidia (-1.5% before the Stock Exchange).

In terms of values, Sanofi takes 1.40% after positive clinical results on amlitelimab, in the treatment of atopic dermatitis. The laboratory is also benefiting from the positive trend in the defensive compartment, particularly that of health (+0.38%).

The Italian community services group A2A lost 2.17% after signing an agreement worth 1.22 billion euros with Enel (+0.9%) to buy electricity distribution networks in Lombardy.

Telecom Italia (TIM), whose action was affected last week by the lack of details on its financial accounts, rebounded on Monday by 1.49%, the operator having specified that its net debt would amount to around 7, 5 billion euros by the end of the year.

(Written by Claude Chendjou, edited by Blandine Hénault)

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