(CercleFinance.com) – European stock markets are tending to gain ground (+0.2% in London, +0.6% in Frankfurt, +0.5% in Paris), as the publication of a US inflation report which should be carefully scrutinized ahead of the FOMC meeting.
Operators seem to place some hope in a slowdown in the rise in US consumer prices, Jefferies anticipating for example an annual rate of 7.2% for the past month, compared to 7.7% in October.
A calming trend on the inflation front could prompt the Fed’s monetary policy committee (FOMC) to decide on a hike of only 50 basis points in its key rates this week, after four turns of the screw from 75 basis points.
In the meantime, traders can appreciate the ZEW economic sentiment index for Germany, which has just appeared up for the third consecutive month, gaining 13.4 points to reach a value of -23.3 in the survey of december.
“The vast majority of financial market experts expect the inflation rate to decline over the next few months,” said ZEW Chairman Achim Wambach, pointing to the temporary stabilization in energy markets.
In the news of the values, easyJet drops nearly 3% in London, under the weight of a deterioration of opinion at Oddo BHF from ‘neutral’ to ‘underperformance’ on the title of the low-cost airline, in a note on the European aviation sector.
On the other hand, Shell gains 1% after the announcement of agreements to sell its stakes in two offshore oil projects in Malaysia currently operated by the Malaysian giant Petronas, for an amount of at least 475 million dollars.
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