(Reuters) – The main European stock markets rose slightly on Monday, apart from the CAC 40 penalized by the decline in the luxury sector against a backdrop of persistent concerns about the Chinese economy.
The absence of details on the recovery plan announced on Saturday by the Chinese government left investors hungry.
In Paris, the CAC 40 lost 0.05% to 7,574.24 points around 07:45 GMT. In London, the FTSE 100 rose by 0.13% and in Frankfurt, the Dax rose by 0.43%.
The EuroStoxx 50 index is up very slightly by 0.02%, the FTSEurofirst 300 by 0.06% and the Stoxx 600 by 0.04%.
The Frankfurt Stock Exchange is proving more resilient than other European markets thanks to speculation about an encouraging earnings season.
On the other hand, the CAC 40 is suffering from the decline in the luxury sector, a market particularly exposed to China. LVMH, which will publish its quarterly results on Tuesday, Hermès and even Kering lost between 1% and 3%.
Pluxee lost 7.39% after Goldman Sachs lowered its recommendation on the stock to “sell”.
In London, Mulberry gained 15.6% after saying it was working with advisers to assess Frasers’ new takeover offer.
The markets are also awaiting the next meeting of the European Central Bank, which will take place on Thursday, as well as data on inflation in the United Kingdom, which will be published on Wednesday.
(Written by Pauline Foret, edited by Blandine Hénault)
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