European stocks fall on eve of US inflation


PARIS (Reuters) – The main European stock markets fell calmly at the start of the session on Tuesday, with caution limiting spreads on the eve of the publication of inflation figures in the United States in July.

Paris, the CAC 40 lost 0.16% to 6,514.29 points around 07:45 GMT and Frankfurt, the Dax dropped 0.41% while in London, the FTSE 100 was unchanged.

The EuroStoxx 50 index is down 0.33%, the FTSEurofirst 300 0.19% and the Stoxx 600 0.29%.

Wall Street ended in scattered order on Monday, far from its highest of the day, and Tokyo lost 0.88% after four consecutive sessions of increases.

After the monthly employment figures in the United States, which revived fears of a sharp rise in rates while reassuring on the health of the world’s largest economy, investors are awaiting consumer price statistics (CPI) in July, which are sure to fuel the debate on the Federal Reserve’s monetary policy.

“Wednesday’s inflation data could set the tone for the rest of the summer,” warns Craig Erlam, senior analyst at Oanda, explaining that unless inflation slows, “it’s would be very difficult for the Fed to raise rates less than 75 basis points in September.”

While awaiting the verdict of the CPI, publications from listed companies enliven the start of the session: Paris, Sanofi thus yields 1.35% after the announcement of the cessation of recruitment for clinical trials of tolebrunitib, a treatment for sclerosis in plates, while Frankfurt, Continental sees its quarterly net loss sanctioned by a drop of 1.15%.

On the rise, Airbus gained 0.79% the day after the publication of its monthly order and delivery figures, boosted by a large Chinese order.

(Written by Marc Angrand, spoken by Kate Entringer)



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