PARIS (Reuters) – Major European stock markets advanced on Monday at the start of a quiet session, as several key U.S. economic indicators are expected this week.
In Paris, the CAC 40 rose by 0.47% to 7,303.65 points at around 07:10 GMT. The Dax in Frankfurt strengthened by 0.56%, while the FTSE in London rose by 0.63%.
The pan-European FTSEurofirst 300 index gained 0.41%, the EuroStoxx 50 gained 0.51% and the Stoxx 600 increased by 0.45%.
Investors will get plenty of data on U.S. activity this week, as fears of a recession across the Atlantic remain and sent markets plummeting last week.
Producer prices on Tuesday, retail sales, industrial production and the Philly Fed and Empire State activity indicators on Thursday, and finally the University of Michigan sentiment indicator will be released during the week.
Market attention will nevertheless be focused on the CPI inflation indicator, expected on Wednesday and essential to the trajectory of American monetary policy.
The Federal Reserve will meet in late August for the Jackson Hole symposium, and will rely on these data in its assessment of activity.
Traders are certain that the central bank will lower rates in September, estimating a 50 basis point cut as 50% likely. Any change in this scenario could cause less liquid markets to react violently during the summer, already worried about the slowdown in US employment.
In terms of values, Eutelsat gained 2.7% after announcing on Friday that it was in exclusive negotiations for the partial sale of its passive ground segment infrastructures.
(Written by Corentin Chappron, edited by Kate Entringer)
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