PARIS (Reuters) – The main European stock markets fell slightly on Tuesday morning in a context of consolidation after their recent gains pending the publication on Wednesday of the minutes of the latest monetary policy meeting of the American Federal Reserve (Fed).
In Paris, the CAC 40 lost 0.62% to 8,145.13 points around 08:00 GMT. In London, the FTSE 100 fell 0.36% and in Frankfurt, the Dax fell 0.16%.
The EuroStoxx 50 index lost 0.41%, the FTSEurofirst 300 0.21% and the Stoxx 600 0.30%.
Futures on Wall Street point to an almost flat opening for the Dow Jones, Standard & Poor’s 500 and Nasdaq. This last index, rich in technological stocks, recorded a record on Monday at 16,823.827 points, supported in particular by Nvidia (+2.48%), which will publish highly anticipated quarterly results on Wednesday after the close on Wall Street. The semiconductor specialist has fueled stock market euphoria around artificial intelligence (AI).
The same day, at 6:00 p.m. GMT, the Fed will publish the “minutes” of its meeting on April 30 and May 1 which could provide clues on the trajectory of rates while several bank officials on Monday urged caution on expectations markets regarding the pace of decline in borrowing costs.
On the bond market, sovereign yields in the United States and Europe are stable after a slight increase the day before, that of the ten-year German Bund having barely reacted to the publication of production price figures in the country which fell more than expected, by 3.3% year-on-year in April.
In terms of values, the European health sector is one of the few in the green, with in particular Sanofi, which presented positive results on Duxipent in the treatment of chronic obstructive pulmonary disease (COPD), as well as a partnership with Open AI in artificial intelligence.
Astrazeneca advances by 0.62%, the British laboratory said on Tuesday that it was targeting a turnover of 80 billion dollars by 2030, supported by the launch of 20 new drugs.
In other sectors, Generali lost 2.52% after its quarterly results, while Saipem gained 3.86% thanks to the obtaining of new contracts worth $3.7 billion.
Kingfisher fell 0.87% after announcing a 0.9% drop in its adjusted sales in the first quarter.
(Writing by Claude Chendjou, edited by Kate Entringer)
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