(Reuters) – Major European stocks were cautiously higher in early trading on Monday, lifted by the energy sector and a series of corporate results, as well as the prospect of monetary easing from some of the world’s biggest central banks.

In Paris, the CAC 40 lost 0.19% to 7,503.13 points at around 07:49 GMT. In Frankfurt, the Dax advanced by 0.27% and in London, the FTSE 100 rose by 0.63%.

The FTSEurofirst 300 is up 0.18% and the Stoxx 600 is up 0.20%, but the EuroStoxx 50 index is down 0.03%.

Markets opened on a positive note on Monday at the start of a week that promises to be busy with monetary policy announcements by central banks, particularly in the United States on Wednesday, with investors betting that the Federal Reserve (Fed) will cut rates for the first time in September.

The American PCE inflation figures, published on Friday, did not, moreover, call this hypothesis into question.

It’s also set to be a busy week for half-year results from companies including four of the “Magnificent Seven”, the American technology giants, after skepticism took over the sector, whose shares have rallied since early 2024.

In the eurozone, investors are awaiting figures on economic growth and inflation in the eurozone this week, as the European Central Bank (ECB), which already cut interest rates for the first time in June, opted for the status quo in July.

In Britain, investors are less confident that the Bank of England (BoE) will ease rates at its meeting on Thursday, putting the probability at 51% that interest rates will be kept at 5.25% as inflation remains high and wage growth robust.

In terms of values, the European energy sector benefited (+1.24%) from the rise in oil prices following a rocket attack on the Golan Heights occupied by Israel, which the government of Prime Minister Benjamin Netanyahu blames on Lebanese Hezbollah.

In Paris, TotalEnergies advanced by 1.2% and in London, Shell progressed by 1.4%.

Philips is up more than 10% after the Dutch medical device maker reported better-than-expected quarterly results, thanks in part to the implementation of its restructuring program.

Heineken, however, fell by more than 6% after the Dutch brewer missed expectations for growth in its half-year profit.

In Paris, Emeis (ex-Orpea), which announced on Friday a downward revision of its profit growth range for 2024, lost 9.5%.

(Written by Diana Mandiá, edited by Augustin Turpin)

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