EUROPEAN STOCK EXCHANGES OPEN UP
PARIS (Reuters) – The main European stock markets rose at the start of the session on Tuesday, regaining part of the ground lost the day before in the face of geopolitical tensions and uncertainties over American monetary policy, which continue to fuel volatility.
In Paris, the CAC 40 gained 0.97% to 6,853.55 points around 08:45 GMT. In London, the FTSE 100 takes 0.22% and in Frankfurt, the Dax advances by 0.67%.
The EuroStoxx 50 index is up 0.82%, the FTSEurofirst 300 0.23% and the Stoxx 600 0.71%.
The latter fell 3.81% on Monday, its worst performance since June 2020, and the CAC 40 lost 3.97%, NATO’s announcement of the dispatch of reinforcements to Eastern Europe suddenly rekindling aversion at risk, a movement amplified by the approach of the decisions of the Federal Reserve.
But Wall Street, which also fell at the time of the European close, ended in the green after a rebound at the end of the session.
Markets are expected to remain highly volatile as there are no signs of easing tensions related to Ukraine; Futures contracts on the main US indices are also pointing to another sharp decline.
The EuroStoxx 50 volatility index remains at its Monday level, the highest since November 2020.
The Fed begins this Tuesday two days of debate at the end of which it should specify its intentions in terms of raising rates and reducing its balance sheet, two major concerns for investors.
The start of trading in Europe was also driven by several noteworthy earnings releases.
On the rise, Ericsson thus jumped 8.09% in Stockholm after quarterly results above expectations thanks to the deployment of 5G networks and Logitech won 6.9% after raising its forecasts.
Lower, Credit Suisse dropped 1.11% after warning that its fourth quarter profit would include heavy provisions related to litigation.
In Paris, Rémy Cointreau lost 2.29% despite the confirmation of its annual forecasts, the group having displayed cautious optimism for sales linked to the Lunar New Year in China.
(Written by Marc Angrand, edited by Blandine Hénault)