PARIS (Reuters) – The main European stock markets are up Monday morning despite uncertainties linked to the British budget and the American presidential election while the week will also be rich in macroeconomic indicators and company results.

In Paris, the CAC 40 rose 1.02% to 7,576.29 points around 9:50 a.m. In London, the FTSE 100 rose 0.14% and in Frankfurt, the Dax rose 0.43%.

The EuroStoxx 50 index increased by 0.77% and the FTSEurofirst 300 by 0.33%. The Stoxx 600, which recorded its first weekly loss in three weeks on Friday, advanced 0.37%.

Futures contracts on Wall Street forecast an increase of 0.48% for the Dow Jones, 0.61% for the Standard & Poor’s 500 and 0.80% for the Nasdaq after a scattered session on Friday.

The week will be marked on the macroeconomic level by inflation figures in the euro zone and the United States, retail sales, gross domestic product and the unemployment rate in several European countries.

On the political side, uncertainty remains before the elections on November 5 in the United States, while in Great Britain the first budget of the new Labor government must be presented on Wednesday.

Regarding company results, technology giants Alphabet, Apple and Microsoft are expected this week.

For today’s session, the positive trend in Europe is driven by the transport and leisure sector, which increased by 1.11%.

The energy sector, on the other hand, fell by 1.63%, as the Israeli strike against Iran did not disrupt crude supplies.

In individual stocks, OPmobility (formerly Plastic Omnium) rose 9.01% after reporting an increase in its quarterly turnover.

Dutch medical device maker Philips falls more than 15% after lowering its annual sales outlook.

Volkswagen’s truck division, Traton, lost 2.19% after its nine-month results.

(Written by Claude Chendjou)

Copyright © 2024 Thomson Reuters