PARIS (Reuters) – The main European stock markets began the last month of the year with the enthusiasm of November, born from anticipations of a rapid drop in rates from the major central banks.
In Paris, the CAC 40, which gained 6.17% over the whole month of November, rose 0.35% to 7,336.53 points around 08:30 GMT. In London, the FTSE 100 rose 0.84% and in Frankfurt, the Dax gained 0.42%.
The EuroStoxx 50 index increased by 0.50% and the FTSEurofirst 300 by 0.52%. The Stoxx 600, which recorded its best month since January in November with a gain of 6.41%, gained another 0.39%.
Futures contracts on Wall Street forecast an increase of 0.12% for the Dow Jones, stability for the Standard & Poor’s 500 and a decrease of 0.12% for the Nasdaq the day after a session in scattered order.
Equity markets remain on Thursday’s positive dynamic reinforced by Eurostat data which showed that the slowdown in inflation in the euro zone over one year had increased in November, to 2.4%, while In the United States, the PCE price index remained unchanged in October.
Investors will follow this Friday, from 4:00 p.m. GMT, two interventions by the President of the American Federal Reserve (Fed), Jerome Powell, less than two weeks before the central bank meeting.
Monthly data on manufacturing activity in the United States and Europe are also on the agenda, while in China the Caixin manufacturing PMI index in China showed that activity had progressed against all expectations in November, at 50.7, driven by an increase in new orders, which reached their fastest pace since June.
On the stock market, the positive trend is led by technology and growth stocks (+0.65%), the yield on the ten-year German Bund having lost 34 basis points over the month of November, its largest monthly decline since July 2022.
In the news of listed companies, Société Générale fell by 1.95% after Goldman Sachs lowered its recommendation to “sell” and the announcement of an increase in its own funds requirements by the European Central Bank ( ECB).
Casino lost 2.92% after confirmation on Thursday by the distributor of the receipt of several offers for its hypermarkets and supermarkets in France.
Elsewhere in Europe, Viaplay plunged 79.07% as the Swedish streaming group announced plans to raise new capital and restructure its debt as part of a rescue plan.
(Writing by Claude Chendjou, edited by Kate Entringer)
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