PARIS (Reuters) – The main European stock markets opened higher on Thursday and erased part of their losses from the previous two sessions, the sharp drop in oil prices temporarily alleviating fears linked to inflation and the risk of recession.
In Paris, the CAC 40 gained 0.72% to 6,465.20 points at 07:50 GMT and in Frankfurt, the Dax advanced by 0.53%.
The EuroStoxx 50 index rose by 0.52%, the FTSEurofirst 300 by 0.42% and the Stoxx 600 by 0.29%.
The latter has lost 1.8% over the last two sessions and the CAC 40 2.19%.
Trading volumes are being reduced by the closure of London markets, which will not reopen until Monday due to Queen Elizabeth II’s Platinum Jubilee celebrations.
On the oil market, Brent fell 2% to 113.96 dollars a barrel and American light crude (West Texas Intermediate, WTI) lost 2.06% to 112.88 dollars before the meeting of the OPEC + countries, which could agree to compensate for the drop in Russian exports.
The European Stoxx index of the oil and gas sector fell by 0.85% and in Paris, TotalEnergies lost 1.26%.
On the rise, Saint-Gobain gained 2.12% after having reaffirmed, a few hours before its general meeting, its earnings forecasts, specifying that it is counting on a double-digit margin in the first half.
Rémy Cointreau, which published annual results above expectations and said it was confident for the current financial year, won 2.52%.
The rest of the session will be animated, among other things, by the publication of monthly figures for producer prices in the zone euro then, in the United States, by the ADP survey on private employment and unemployment registration statistics.
(Writing by Marc Angrand, editing by Kate Entringer)
Copyright © 2022 Thomson Reuters
–
