PARIS (Reuters) – The main European stock markets are trending upwards on Tuesday morning, notably with a record for the Parisian CAC 40, in a context of renewed optimism in the markets after two sessions of consolidation.
In Paris, around 08:50 GMT the CAC 40 nibbled 0.08% to 8,026.53 points, after a historic peak at 8,058.36 points a few minutes after the opening. In London, the FTSE 100, rich in stocks linked to oil and gas, advanced 0.82%. In Frankfurt, the Dax gained 0.27%.
The EuroStoxx 50 index increased by 0.15% and the FTSEurofirst 300 by 0.35%. The Stoxx 600, up 0.38%, is also very close to surpassing its record, thanks in particular to basic resources (+0.77%) and energy (+0.73%).
Futures contracts on Wall Street foreshadow stability for the Dow Jones, an increase of 0.25% for the Standard & Poor’s 500 and 0.46% for the Nasdaq the day after a scattered session marked by gains of profits.
Investor sentiment in Europe is boosted in particular by the technology sector (+0.36%) after the solid results of Oracle, whose stock climbed 13.4% in pre-market trading on Wall Street.
While waiting for the publication at 12:30 GMT of the consumer price index (CPI) in the United States, which could influence the continuation of the trend, the market also welcomes the new data on wages in the United Kingdom, whose pace of growth is the slowest since October 2022, which could encourage the Bank of England (BoE) to ease its monetary policy.
In Germany, the slowdown in inflation was confirmed at 2.7% year-on-year in February after an increase of 3.1% in January, which should also reinforce market expectations of a rate cut by the Central Bank. European Union (ECB) in June.
In terms of values, French spirits groups react marginally to the announcement from the Chinese Ministry of Commerce according to which Martell & Co (+0.09%), Société Jas Hennessy & Co, a subsidiary of LVMH (-0.56%), and E. Remy Martin & Co (+0.14%) will be one of the companies selected as part of an anti-dumping investigation into wine spirits imported from the European Union.
Maisons du Monde, which wants to close or transfer 40 to 50 stores by 2026, fell by 1.90%.
Generali gained 0.41% after publishing its largest annual profit for 2023, while Porsche gained 1.49% thanks to annual results in line with expectations.
(Writing by Claude Chendjou, edited by Kate Entringer)
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