PARIS (Reuters) – Major European stock markets were up moderately at the start of trading on Tuesday, in the absence of new indicators on the trajectory of the American economy.
In Paris, the CAC 40 rose by 0.17% to 7,514.43 points at around 07:05 GMT. The Dax in Frankfurt strengthened by 0.26%, while the FTSE in London fell by 0.13%.
The pan-European FTSEurofirst 300 index gained 0.09%, the EuroStoxx 50 gained 0.28% and the Stoxx 600 increased by 0.08%.
German producer prices, a key indicator, fell year-on-year at the pace expected by consensus in July. Final eurozone inflation figures for July are due at 0900 GMT.
However, there is a wait-and-see attitude ahead of the publication on Wednesday of the minutes of the Federal Reserve’s latest monetary policy meeting, which will provide a better understanding of the central bank’s diagnosis of the slowing American labor markets.
The Jackson Hole Symposium, a major monetary policy event at which Fed Chairman Jerome Powell will speak, will also be closely followed by investors, starting on Thursday.
Finally, the PMI indicators, expected on Thursday, will give a clearer picture of the European economic trajectory during the third quarter.
In the stock market, Voltalia’s trading is suspended after the stock collapsed by 14.4% at the opening. The group said on Monday that a restriction on production had been imposed on it by the Brazilian network operator and could have a significant effect on its 2024 EBITDA.
(Written by Corentin Chappron, edited by Kate Entringer)
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