PARIS (Reuters) – The main European stock markets rose slightly at the start of the session on Tuesday while awaiting the results of other American banks to assess the health of the sector, while the above-expected growth of the Chinese economy is welcomed without euphoria.
In Paris, the CAC 40 gained 0.28% to 7,518.86 points at 07:47 GMT. In London, the FTSE 100, up for the eighth session in a row, takes 0.27% and in Frankfurt, the Dax advances by 0.13%.
The EuroStoxx 50 index is up 0.27%, the FTSEurofirst 300 0.27% and the Stoxx 600 0.18%.
With the lifting of health restrictions in December in China, the country’s gross domestic product (GDP) grew by 4.5% at an annual rate in the first three months of the year, above the Reuters consensus which gave it an increase. by 4.0%.
At the same time, retail sales did better than expected in March at +10.6%, but industrial production came in a little below expectations and real estate investment fell by 5.8% in the first quarter, highlighting the irregularity of the recovery.
The mixed data did not have a big impact on regional equities, with major equity indices in mainland China and Shanghai ending the day slightly higher.
The European trend is marking time after a series of several positive sessions, on the back of hopes that the cycle of Federal Reserve rate hikes and good corporate results will end soon.
Markets will now watch quarterly releases from Goldman Sachs and Bank of America while results from Morgan Stanley will be announced on Wednesday.
On the stock market, Lagardère advances by 2.55% after having published a quarterly turnover up 24.4% on a like-for-like basis, while Virbac announced lower sales, lowering its price by 4.84%. EasyJet gained 2.74% after announcing that it expects full-year profit above market forecasts, boosted by summer bookings and strong demand at Easter.
Swedish telecom equipment maker Ericsson dropped 4.12% after cautious forecasts for the second quarter.
(Laetitia Volga, edited by Blandine Hénault)
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