The headquarters of the Euronext trading platform
PARIS (Reuters) – European stock markets are hesitating before a succession of monetary policy decisions expected this week, including that of the American Federal Reserve on Wednesday.
In Paris, the CAC 40 remains at 7,275.4 points around 07:20 GMT. In Frankfurt, the Dax lost 0.10%, compared to 0.23% for the FTSE in London. The pan-European FTSEurofirst 300 index dropped 0.23%, the EuroStoxx 50 and the Stoxx 600 were stable. Futures on New York indices suggest a hesitant opening on Wall Street, with the Dow Jones and Standard & Poor’s 500 expected to be mixed, while the Nasdaq is expected to decline by 0.13%.
Investors remain wait-and-see before the Fed’s decision, as uncertainty increases over the extent of monetary tightening that remains to be accomplished.
Markets expect a pause in rate hikes on Wednesday, but more hikes by the end of the year. Decisions from ten other central banks are expected after that of the Fed this week, including the Bank of England and the Bank of Japan. In values, Société Générale continues its decline and falls by 2.06% after HSBC lowered its recommendation to “hold”.
SMCP plunges 22.8% after lowering its forecasts for 2023, citing a degraded economic context.
(Written by Corentin Chappron, edited by Blandine Hénault)