PARIS (Reuters) – The main European stock markets are stable on Monday in the first trades, the uncertainties linked to the results of the American election continuing to fuel caution in the middle of the corporate results season.
In Paris, the CAC 40 rose 0.03% to 7,411.05 points around 08:15 GMT. The Dax in Frankfurt dropped 0.1% while the FTSE in London increased by 0.08%.
The pan-European FTSEurofirst 300 index lost 0.03%, the EuroStoxx 50 fell by 0.03% and the Stoxx 600 increased by 0.03%.
The week which opens begins in a tone of caution while the results of the American election, still undecided, will have major consequences on the world stock markets.
While waiting to know the name of the future President of the United States – which could take several days – investors will also focus on the monetary policy decision of the Federal Reserve (Fed) later in the week.
In Europe, markets are awaiting final manufacturing PMIs from France, Germany and the Eurozone during the session.
The results season also resumes slowly on Monday with, for example, Ryanair before accelerating tomorrow with UniCredit in Italy or Bouygues in France.
On the values ​​side, Ryanair lost 1.4% after a drop in its profits in the first half.
Societe Generale is flat after Citigroup raised its recommendation from “neutral” to “buy” while STMicroelectronics drops 1.55% after Morgan Stanley lowered its recommendation from “line weight” to “underweight”.
In London, Burberry jumped 7.5% after press reports suggesting an interest from the Italian Moncler in the British luxury group.
(Written by Bertrand De Meyer, edited by Blandine Hénault)
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