PARIS (Reuters) – The main European stock markets are in the green on Thursday morning, amplifying the rebound of the day before, in a context of slight easing on rates after the more marked drop than expected in monthly retail sales in Great Britain, which revives hopes of a rapid easing of central bank policy.
In Paris, the CAC 40 rose 0.30% to 7,423.56 points around 08:45 GMT. In London, the FTSE 100 advanced by 0.63% and in Frankfurt, the Dax gained 0.28%.
The EuroStoxx 50 index increased by 0.35%, the FTSEurofirst 300 by 0.32% and the Stoxx 600 by 0.28%.
Futures contracts on Wall Street foreshadow stability for the Dow Jones, an increase of 0.17% for the Standard & Poor’s 500 and 0.39% for the Nasdaq the day after a session in the green, driven by new technologies following the results and forecasts of the Taiwanese giant TSMC.
In today’s indicators, UK retail sales fell more than expected month-on-month in December, by 3.2%, which is expected to increase pressure on the Bank of England (BoE) to quickly lower its interest rates.
On the bond market, the yield on the ten-year Gilt fell by more than four basis points, to 3.894%, while in the euro zone, the yield on the German Bund of the same maturity is stable, at 2.31%, after having progressed by four points the day before.
Producer prices in Germany, however, fell more than expected in December, by 8.6% year-on-year, a sign of an easing of inflationary pressures as the European Central Bank (ECB) meets next week. .
On the stock market, the real estate sector (+0.13%) is in the green with in particular Unibail Rodamco (+1.1%) which shows one of the strongest increases in the CAC.
New technologies (+0.62%) are still in demand after their strong progression the day before, Stmicroelectronics gaining 0.52%.
Teleperformance, up 5.68%, benefits from the increase in Stifel’s recommendation to “buy”.
The banking sector (+0.54%) is also doing well with KBC Group gaining 2.23%, Morgan Stanley having raised its recommendation on the Belgian group to “overweight”.
In quarterly publications, BASF advances 1.02% despite an operating profit for 2023 lower than its own forecasts.
(Written by Claude Chendjou, edited by Blandine Hénault)
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