2024-01-11 09:17:53
BGC traders work at London’s Canary Wharf financial center
The main European stock markets, supported by raw materials, are trending upwards on Thursday morning following two sessions in a row in the red and before the figures for American inflation, the main statistic of the week.
In Paris, the CAC 40 rose 0.6% to 7,470.47 points around 08:40 GMT. In London, the FTSE 100 rose 0.52% and in Frankfurt, the Dax gained 0.68%.
The EuroStoxx 50 index increased by 0.80%, the FTSEurofirst 300 by 0.58% and the Stoxx 600 by 0.65%.
Futures contracts on Wall Street predict an increase of 0.22% for the Dow Jones, 0.31% for the Standard & Poor’s 500 and 0.54% for the Nasdaq the day following a session in the green range by the rebound of the technological giants once morest a backdrop of easing in the bond market, where the American ten-year fell once more on Thursday by almost four basis points, before the publication of the American inflation figures.
The market awaits with cautious optimism the data at 1:30 p.m. GMT on consumer prices (CPI) for the month of December in the United States, an indicator which might influence the medium-term decisions of the American Federal Reserve (Fed) whose next meeting is scheduled for January 30 and 31.
On the stock market in Europe, the positive trend is driven by the rebound in basic resources (+1.4%) in the wake of the rise in gold and copper prices once morest a backdrop of depreciation of the dollar, which fell to 0. 10% once morest a basket of international currencies.
In Paris, OVHcloud advances by 1.01% following confirming its outlook for 2024 and 2025 following a 12% growth in its sales in the first quarter.
In London, Tesco gained 0.70% thanks to an upward revision of its profit outlook for the second time in four months, while Marks & Spencer lost 4.71%, the group’s uncertain outlook retaining more attention as the jump in sales during the period including Christmas, according to traders.
Elsewhere in Europe, Swiss industrial valve manufacturer VAT Group rose 2.7% following reporting larger-than-expected orders in the fourth quarter.
The Swedish electronic invoicing and tax solutions group Pagero jumped 15.56% in reaction to a takeover offer of 6.4 billion crowns (around 570.9 million euros) from Thomson Archyde.com.
(Edited by Claude Chendjou, edited by Kate Entringer)
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