(Reuters) – The main European stock markets are in the green on Tuesday at the start of the session but with slight variations, awaiting indicators on inflation in Europe and the United States later in the week.
In Paris, the CAC 40 gained 0.06% to 8,146.41 points around 08:49 GMT. In London, the FTSE 100 gained 0.14% and in Frankfurt, the Dax advanced 0.06%.
The EuroStoxx 50 index is up 0.01%, the FTSEurofirst 300 takes 0.13% and the Stoxx 600 0.15%.
Stock markets are moving on weak changes in the absence of a major catalyst, with eyes focused on Friday’s publication of the PCE price index in the United States, the measure of inflation favored by the Federal Reserve, as well as on inflation data in several European countries later this week.
These data are all the more anticipated as investors are counting on an upcoming drop in interest rates, mainly in June.
Comments from Fed officials on Monday, however, cast doubt on the timing of rate cuts: Lisa Cook, governor of the Fed, called for caution and Raphael Bostic, president of the Atlanta Fed, reiterated his comments , reducing his expectations to a single drop.
Basic resources led the sector declines with a decline of -0.91%, with the subindex following sluggish copper prices.
In terms of values, Atos, which declared on Tuesday that it was seeking to restructure its debt by July after recording record annual losses in a context of uncertainty over its prospects, lost 7.7%.
In Frankfurt, shares of German seed producer KWS Saat rose 8.7% after the group announced an agreement with Argentine company GDM to sell its corn business and breeding equipment licenses in South America.
In London, the online clothing retailer ASOS gained 5.11% after confirming its objective of a “positive” annual adjusted EBITDA and reporting a decline in its sales of 18% in the first half, in line with expectations.
(Writing by Diana Mandiá, editing by Kate Entringer)
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