PARIS (Reuters) – The main European stock markets are moving up cautiously at the start of the session on Wednesday, after the positive close on Wall Street and on the eve of monthly consumer price figures in the United States.
In Paris, the CAC 40 gained 0.26% to 6,887.10 points around 08:50 GMT. In London, the FTSE 100 takes 0.26% and in Frankfurt, the Dax advances by 0.27%.
The EuroStoxx 50 index is up 0.32%, the FTSEurofirst 300 0.09% and the Stoxx 600 0.16%.
Wall Street ended Tuesday up 0.5% to 1% after the Federal Reserve Chairman’s silence on monetary policy at a meeting of central bankers in Sweden.
Investors feared that Jerome Powell would agree with Mary Daly and Raphael Bostic, two Fed officials who spoke earlier this week about the need to increase to more than 5% for a while in order to stem inflation.
Markets are now focused on Thursday’s publication of the December consumer price index in the United States, which should show a more measured pace of inflation.
Most traders anticipate that the Fed will decide at its February meeting to hike rates by 25 basis points.
On the stock market, LVMH advances by 1% after the announcement of the appointment of Pietro Beccari as CEO of Louis Vuitton and Delphine Arnault as head of Christian Dior Couture.
Eurofins Scientific, the bottom of the CAC 40, dropped 3.84% after the degradation of Deutsche Bank to “sell” and Jefferies to “underperformance”.
Elsewhere in Europe, Bayer takes 2.00%, the Bloomberg agency having reported that the activist fund Bluebell has increased its capital and is pushing for a dismantling of the German group.
In London, JD Sports gained 5.32% after raising its annual profit forecast and Sainsbury’s dropped 2.32% after its results and forecast.
(Laetitia Volga, editing by Kate Entringer)
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