SHARES CONTINUE TO RISE, AEGON SHINES, SIEMENS SANCTIONED
PARIS (Reuters) – The main European stock markets rose at the start of the session on Thursday, the figures considered reassuring for consumer prices in the United States, which partly allayed fears linked to the rise in interest rates, continuing to favor risk appetite.
However, investors’ renewed optimism will soon be put to the test as US producer price (PPI) statistics are due at 12:30 GMT. Especially since several Fed officials have stressed that the fight against inflation was “very far” from being won.
In Paris, the CAC 40 gained 0.34% to 6,545.63 points around 07:35 GMT, confirming the return above 6,500 operated on Wednesday. In Frankfurt, the Dax advanced by 0.06% while in London, the FTSE 100 limited its progress to 0.02%, hampered by the drop in mining stocks.
The EuroStoxx 50 index is up 0.25%, the FTSEurofirst 300 0.37% and the Stoxx 600 0.26%.
The latter already rose 0.89% on Wednesday, benefiting from the downward revision of expectations for a rate hike by the Federal Reserve next month, the probability of a third hike of 75 basis points ebbing after the announcement of a stability of the CPI index in July.
Wall Street for its part ended up sharply, the Nasdaq thus bringing its rebound to more than 20% from its low point in June.
While waiting for the PPI figures, the start of the session in Europe is driven by a new shower of company results.
The biggest rise in the Stoxx 600 is for Dutch insurer Aegon, which gains 7.53% after revising its forecast upwards, while on the downside Siemens (-1.61%) is sanctioned after its first quarterly net loss since 2010, a consequence of the depreciation of its shares in Siemens Energy.
In Paris, Valneva lost 0.64% after reducing its annual sales forecast to integrate the reduction in orders for vaccines against COVID-19.
(Writing by Marc Angrand, editing by Kate Entringer)