PARIS (Reuters) – The main European stock markets rose at the start of the session on Tuesday after the latest reassuring news on the evolution of the health situation in China and before a highly anticipated speech by Christine Lagarde, President of the European Central Bank (ECB). .
In Paris, the CAC 40 gained 0.63% to 6085.21,084.49 points around 07:45 GMT. In London, the FTSE 100 takes 0.98% and in Frankfurt, the Dax advances by 0.4%.
The EuroStoxx 50 index is up 0.31%, the FTSEurofirst 300 0.71% and the Stoxx 600 0.29%.
Futures contracts on the main American indices are currently pointing to a higher opening which should make it possible to erase the losses suffered on Monday at the end of a volatile session. [.NFR]
The Chinese markets are up sharply after the statements of the People’s Bank of China reaffirming its accommodating policy and above all the announcement of a shortening of the duration of quarantine for foreigners arriving in the country: the SSE index Shanghai Composite gained 0.89%.
The news, which adds to the absence of new cases of local infection in Beijing or Shanghai over the past 24 hours, a first since the end of February, benefits among others luxury stocks such as Kering, which wins 0 .92% or Hermès (+1.08%).
But the most sustained sectoral increases are once again for raw materials, whose Stoxx index rose by 2.31%, and for energy (+1.55%).
Investors are now awaiting the speech that Christine Lagarde, President of the European Central Bank (ECB), is due to deliver from 08:00 GMT at the Central Banks Forum in Sintra, Portugal.
While some believe that the peak of inflation has already been reached, which should allow the monetary authorities to moderate their rhetoric, “others, more pessimistic, believe that inflation is structural and lasting and that the action of the banks power plants will cause a recession, especially in the United States where the probability is highest”, explains Saxo Bank.
(Written by Marc Angrand, edited by Nicolas Delame)
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