PARIS (Reuters) – The main European stock markets are moving higher on Monday, the markets being reassured by the choice of Donald Trump for the post of Treasury Secretary.
In Paris, the CAC 40 rose 0.58% to 7,297.79 points around 08:20 GMT. The Dax in Frankfurt strengthened by 0.75% while the FTSE in London increased by 0.39%.
The pan-European FTSEurofirst 300 index gained 0.48%, the EuroStoxx 50 gained 0.81% and the Stoxx 600 grew by 0.52%.
European markets are supported Monday by Wall Street’s positive close on Friday and Donald Trump’s choice to appoint Scott Bessent as Treasury Secretary, a “hawk” profile defending pro-business policies.
At the same time, investors are awaiting Germany’s November Ifo business climate index during the session after the lackluster PMIs released last week.
Inflation in the euro zone, expected on Friday, will be scrutinized as the markets increasingly count on an acceleration in the ECB’s rate cut.
Philip Lane, chief economist of the ECB, recalled Monday in an interview with the newspaper “Les Echos” that monetary policy should not remain restrictive for too long.
In terms of values, Atos climbs 20% after entering into exclusive negotiations with the State for the acquisition of its “Advanced computing” activities. Commerzbank drops 5.4% after UniCredit’s offer for Banco BPM.
(Written by Bertrand De Meyer, edited by Blandine Hénault)
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