Euro banknotes and a torn European flag
PARIS (Reuters) – The opening was hesitant for the main European stock markets on Monday, with investors remaining cautious ahead of the publication of inflation in the euro zone.
In Paris, the CAC 40 stagnated at 7,475.01 points around 07:43 GMT. In Frankfurt, the Dax fell 0.14%, against a drop of 0.17% for the FTSE in London.
The pan-European FTSEurofirst 300 index lost 0.09%, the EuroStoxx 50 also 0.09% and the Stoxx 600 0.15%.
New York index futures suggest a mixed Wall Street open, with the Dow Jones and Standard & Poor’s 500 flat, while the Nasdaq fell 0.09%.
Eurozone inflation will be released at 09:00 GMT, and is expected to decline in July according to consensus, as markets expect the European Central Bank (ECB) to hold rates in September, according to the ECBWATCH tool.
A pause in rate hikes would support risky assets, although ECB President Christine Lagarde said in an interview published on the Figaro website on Sunday that a possible pause in September would not necessarily be final.
Eurozone GDP is also expected on Monday, and will give more indications on the trajectory of European activity, while retail sales in Germany published in the morning disappointed with their weakness.
In values, Heineken fell 4.96% after a sharper-than-expected drop in profit, as sales in Asia slowed in the first half.
Atos tumbles 14.69% at the bottom of the SBF120. The group had already fallen by 22.50% on Friday after reporting an operating loss in the first half which widened despite organic growth in turnover of 2.3% over the period.
(Writing by Corentin Chapron, editing by Kate Entringer)