PARIS (Reuters) – Major European stock markets move without much change on Friday morning, in the absence of a new catalyst as the earnings season draws to a close and inflation fears subside.

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In Paris, the CAC 40 gained 0.1% to 7,066.33 points at 09:23 GMT after an absolute peak at 7,097.46. In London, the FTSE 100 yields 0.38% and in Frankfurt, the Dax grapples 0.08%.

The EuroStoxx 50 index is down 0.05%, the FTSEurofirst 300 is up 0.02% and the Stoxx 600 is down 0.02%.

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The latter set a new record in the session and is heading for its sixth straight week of increases, fears related to the rise in prices – fueled by recent US and Chinese statistics – having finally had only a limited effect. on stock prices this week.

“We believe equity investors can overcome concerns about inflation. We continue to advise investors to buy the winners of global growth,” said Mark Haefele, chief investment officer of UBS Global Wealth Management.

The European unconstrained consumer goods index gained 1.32%, the best performance of the morning, supported by Richemont: the Italian group took 8.56% after announcing a half-year profit above expectations and discussions in course with Farfetch regarding a possible investment in its struggling online fashion platform Yoox-Net-a-Porter.

Still in the luxury industry, LVMH is up 1.13% after information from Reuters that its flagship brand Louis Vuitton is considering opening its first “duty free” store in China, on the island of Hainan.

Deutsche Telekom (+ 1.8%), Pirelli (+ 3.52%), Atlantia (+ 0.47%) are up after raising their annual outlook.

On the downside, Atos fell 3.98% after the announcement of its exit at the end of the month from the MSCI France index.

Aperam fell 6.41% and AstraZeneca dropped 3.43% after their quarterly publications.

(Laetitia Volga, edited by Blandine Hénault)