PARIS (Reuters) – Major European stock markets are looking for direction in early trading on Monday, with the session expected to be free of major news releases or events.
In Paris, the CAC 40 rose by 0.05% to 7,453.75 points at around 07:05 GMT. The Dax in Frankfurt fell by 0.1%, while the FTSE in London declined by 0.23%.
The pan-European FTSEurofirst 300 index, the EuroStoxx 50 and the Stoxx 600 are looking for direction.
Markets are digesting the latest data from the United States, which suggests that the Federal Reserve could cut rates by 25 basis points in September.
The Jackson Hole symposium on Thursday could allow investors to refine their projections for key rates.
“A US policy rate cut in September seems to be on the cards. Market attention is now turning to the pace of easing, the terminal rate and whether Fed policymakers, concerned about the state of labor markets, will succeed in lowering rates by 50 basis points in September,” Rabobank strategists estimate.
The opening of the US Democratic Party convention on Monday will also be followed by operators, as the November 5 election approaches.
The convention should allow Kamala Harris, Democratic candidate and vice-president of the United States, to clarify her economic program.
In terms of values, Nexans fell 2.6%, with Goldman Sachs having lowered its recommendation on the stock to “neutral” from “buy”.
(Written by Corentin Chappron, edited by Kate Entringer)
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