PARIS (Reuters) – The main European stock markets rose at the start of the session on Friday in the wake of Wall Street and Chinese markets, the rebound in technology stocks resisting the mixed announcements from Apple and the disappointing forecasts from Amazon, as well as the unexpected stagnation of the French economy in the first quarter.
In Paris, the CAC 40 gained 1.12% to 6,581.18 points at 07:45 GMT, its highest for a week. In London, the FTSE 100 takes 0.39% and in Frankfurt, the Dax advances by 1.14%.
The EuroStoxx 50 index is up 1.28%, the FTSEurofirst 300 0.82% and the Stoxx 600 1.02%.
The high-tech sector rose 2.13% on the back of the Nasdaq’s 3.06% rebound, its biggest rise since March 16, after better-than-expected results from Meta Platforms.
After the close of Wall Street, however, Amazon lost up to nearly 10% in reaction to results and forecasts below market expectations. And Apple yielded just over 2% after cautious forecasts that obscure record quarterly results.
On the macroeconomic front, French indicators at the start of the day show that gross domestic product (GDP) stagnated in the first three months of the year and that inflation was higher than expected in April, at 5.4%. over one year to European HICP standards.
Investors are now awaiting the first estimate of GDP in Germany and in euros and the first inflation figure in the euro zone for the month that is ending.
In the news of the results, the best performance of the CAC 40 is for Saint-Gobain, which takes 3.36% after a record quarterly turnover, while SEB gives up 3.91% after having “sharply reduced” its activities. in Russia.
The largest increase in the Stoxx 600 is for the Dutch Prosus, a major shareholder of Chinese Tencent, which jumped 9.84% after press reports on negotiations between Washington and Beijing on the listing of Chinese companies on Wall Street.
Chinese markets also benefited from promises of new economic support measures from the Political Bureau of the Communist Party. The SSE Composite Index of the Shanghai Stock Exchange ended with a gain of 2.41%.
(Written by Marc Angrand, edited by Matthieu Protard)
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