PARIS (Reuters) – The main European stock markets fell at the start of the session on Wednesday, investors digesting numerous developments before the next decision from the European Central Bank (ECB).
In Paris, the CAC 40 fell by 1% to 7,446.94 points around 07:05 GMT. The Dax in Frankfurt lost 0.12%, while the FTSE in London increased by 0.7%.
The pan-European FTSEurofirst 300 index lost 0.33%, the EuroStoxx 50 fell by 0.67% and the Stoxx 600 declined by 0.34%.
Numerous events have driven the markets since the start of the week, between results, indicators and international developments which could affect financial assets.
“The markets are navigating on sight between geopolitical risk, the approaching US elections and heterogeneous micro results on Tuesday, between good news on US banking and less good news on tech and luxury which are falling”, summarize the strategists from Natixis.
“In this context, dispersion within the stock market has been marked and volatility remains tense.”
The next meeting of the ECB, on Thursday, also calls for caution: the comments that the institution will make on European growth will feed into investors’ economic projections.
In terms of values, the luxury sector is declining after the results considered disappointing by LVMH, which reported a decline in its sales on Tuesday. The stock fell 7% in early trading.
(Written by Corentin Chappron, edited by Blandine Hénault)
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