PARIS (Reuters) – The main European stock markets rose at the opening on Monday before the next meeting of the European Central Bank on Thursday.
In Paris, the CAC 40 rose 0.8% to 7,486.14 points around 08:05 GMT. The Dax in Frankfurt strengthened by 0.34%, while the FTSE in London advanced by 0.45%.
The pan-European FTSEurofirst 300 index takes 0.51%, the EuroStoxx 50 0.51% and the Stoxx 600 0.48%.
The ECB will announce its rate decision on Thursday and will publish its updated economic projections on this occasion.
The markets estimate a drop of 25 basis points on this occasion as almost certain, despite sluggish growth in the euro zone.
Adding to the wait-and-see attitude of European markets, inflation figures in China published on Monday surprised on the downside, reviving fears of a prolonged slowdown in the world’s second-largest economy despite the government’s support plans.
Across the Atlantic, investors will be attentive to the CPI price dynamics expected on Wednesday which could show that inflationary pressures remain persistent.
Several changes in recommendations are driving the Parisian rating in the absence of major announcements.
Rexel takes 2.1%, Morgan Stanley having raised its recommendation on the stock to “overweight”, while Société Générale gains 1.7% after Exane BNP Paribas recommends “outperform”.
(Written by Corentin Chappron, edited by Sop)
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