PARIS (Reuters) – European markets are hesitant at opening on Thursday, worried about China’s economic trajectory and ahead of comments from central bankers.
In Paris, the CAC 40 is standing still at 7,036.46 points around 07:26 GMT. In Frankfurt, the Dax is unchanged, compared to a decline of 0.13% for the FTSE in London.
The pan-European FTSEurofirst 300 index dropped 0.13%, the EuroStoxx 50 hesitated and the Stoxx 600 declined by 0.12%.
New York index futures suggest a mixed opening on Wall Street, with the Dow Jones looking for direction, compared to a drop of 0.1% for the Standard & Poor’s 500 and 0.12% for the Nasdaq.
Price dynamics in China shifted into deflation in October, while factory gate prices continue to decline, suggesting that activity is slowing despite government support measures.
Adding to the caution, markets are awaiting statements from Federal Reserve Chairman Jerome Powell at 7:00 p.m. GMT and his European Central Bank counterpart Christine Lagarde on Friday at 12:30 p.m. GMT, which could shed light on the trajectory of rates.
“Caution remains in order, especially after the very violent (bond) rebound at the beginning of November, the geopolitical risks and a season of results announcements which are currently not very reassuring,” note the strategists at Française AM.
In terms of values, Schneider Electric jumped 5.98%, at the top of the CAC 40, after revealing its annual outlook.
Airbus and ArcelorMittal fell by 2.84% and 1.78% respectively, the worst performances in the CAC 40, after the publication of their quarterly results.
(Written by Corentin Chappron, edited by Kate Entringer)
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