PARIS (Reuters) – The main European stock markets are trending upwards on Wednesday morning, rebounding in particular thanks to new technologies the day after a session in the red.

However, the trend could change during the day with the publication of American inflation figures.

In Paris, the CAC 40 rose 0.57% to 8,095.34 points around 07:30 GMT. In London, the FTSE 100 advanced by 0.64% and in Frankfurt, the Dax increased by 0.70%.

The EuroStoxx 50 index increased by 0.78%, the FTSEurofirst 300 by 0.65% and the Stoxx 600 by 0.69%.

Futures contracts on Wall Street predict an increase of 0.10% for the Dow Jones, 0.07% for the Standard & Poor’s 500 and 0.11% for the Nasdaq.

The lull in the bond compartment allows stocks to move forward.

The yield on ten-year US Treasury bonds, which recently climbed to a nearly five-month peak, was stable on Wednesday at 4.3597%, just like its German equivalent, the benchmark for the euro zone, which is showing at 2.361%.

Investors are taking advantage of cheap purchases while awaiting the publication at 12:30 GMT of the Consumer Price Index (CPI) in the United States, in the hope that it will confirm a slowdown in inflationary pressures.

The Reuters consensus forecasts a deceleration of the CPI to 0.3% over one month in March, but an acceleration to 3.4% over one year, after respectively +0.4% and +3.2% in February.

The market is also awaiting the publication at 6:00 p.m. GMT of the minutes of the last monetary policy meeting of the American Federal Reserve (Fed), while on Thursday the European Central Bank (ECB) must announce its new decisions on the subject.

On the European stock market, the positive trend is fueled by the new technologies compartment (+1.4%), sensitive to variations in rates. “Tech” is also driven by the solid quarterly results of Taiwanese semiconductor giant TSMC, the increase in its turnover having exceeded expectations thanks to the rise of artificial intelligence (AI), a promising theme .

Luxury (+0.47%), considered a growth sector, is also sought after, allowing stocks like LVMH and Kering to advance by 0.95% and 0.86% respectively in Paris.

In terms of corporate results, chocolate manufacturer Barry Callebaut jumped 8.94% after reporting generally unchanged sales volumes for its half-year ended at the end of February, despite the rise in the cost of raw materials.

Tesco takes 0.90% after saying it anticipates a further increase in its profit for its new annual fiscal year.

(Writing by Claude Chendjou, edited by Kate Entringer)

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