PARIS (Reuters) – The main European stock markets were slightly in the green on Thursday morning, driven by the new technologies and media sectors, but investors remained cautious after the results of Nvidia and before the publication of economic indicators in the United States.
In Paris, the CAC 40 gained 0.55% to 7,619.55 points at around 07:50 GMT. In London, the FTSE 100 gained 0.16%. In Frankfurt, the Dax gained 0.15%.
The EuroStoxx 50 index gained 0.49%, the FTSEurofirst 300 0.31% and the Stoxx 600 0.36%.
Wall Street futures are forecasting a 0.36% rise for the Dow Jones, but a 0.14% fall for the Standard & Poor’s 500 and a 0.37% fall for the Nasdaq the day after a session of decline.
On the European stock market, the major sectors of the Stoxx 600 are showing modest gains, with the biggest increases being in new technologies (+0.86%) and media (+0.38%), with a gain of 1.41% for Universal Music Group.
The semiconductor groups ASML (+0.74%), ASM International (+0.48%), BE Semi (-0.58%), Infineon (+1.02%), STMicro (+1.99%) are experiencing mixed fortunes but remain on small variations.
While Nvidia is expected to open on Wall Street with a fall of more than 7% after forecasts for the third quarter were broadly in line with market expectations, the impressive results posted in the second quarter by the American group, a flagship stock in artificial intelligence, are better received in Europe.
In addition to Nvidia, the markets are also watching preliminary inflation figures for Germany for August ahead of the publication of those for the entire euro zone on Friday.
In the United States, the second estimate of the gross domestic product (GDP) for the second quarter and the weekly unemployment benefit figures are on the radar as a recession is now feared in the world’s largest economy.
In corporate news, Pernod Ricard jumped 6.5% after publishing annual sales on Thursday in line with consensus and its own forecasts.
Delivery Hero gained 1.62% after the group announced plans to list its Emirati subsidiary Talabat on the Dubai Stock Exchange in the fourth quarter.
(Written by Claude Chendjou, edited by Kate Entringer)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
