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Major European stock markets down, following Asian markets and Wall Street

Major European stock markets down, following Asian markets and Wall Street

This Tuesday morning, according to the first indications available, the Eurostoxx 50 is expected to fall by 0.6%, the CAC 40 by 0.7%, the Dax in Frankfurt by 0.5% and the FTSE in London by 0.4%.

 

After two sessions of clear gains on Friday (+2.04%) and Monday (+0.93%), the CAC 40 fell 0.60% to 6,055 points on Tuesday. Investors are playing it safe as they await decisions from two major central banks and new economic indicators.

 

The decision on rates of the Central Bank’s Governing Council will be unveiled on Thursday and if a 25 basis point increase in the cost of credit is widely anticipated, uncertainties remain on the anti-fragmentation instrument prepared by the institution.

 

The market will learn later this morning the final inflation figures for June in the Eurozone, with a 0.8% increase expected month-on-month, while the annual increase should represent 8.6%.

 

The European Commission last week was pessimistic about growth and inflation, pointing out that inflation could be even higher if gas prices rise again if Russia decides to cut off supplies.

 

In the US

 

In the U.S., while several U.S. Federal Reserve officials have reassured about the pace of interest rate hikes, investors continue to be cautious. Wall Street ended lower on Monday, affected by fears about Apple and the reversal at the end of the session of the banking compartment (-0.53%). The Dow Jones index lost 0.69% to 31,072.61 points, the S&P-500 0.84% to 3,830.85 points and the Nasdaq Composite 0.81% to 11,360.05 points.

 

In Asia

 

The Tokyo Stock Exchange ended higher Monday after returning from a three-day weekend in Japan. The flagship Nikkei index gained 0.65 percent to 26,961.68 points after its fourth straight session of growth, and the broader Topix index rose 0.54 percent to 1,902.79 points.

 

In China, the SSE Composite gained 0.07% but the CSI 300 gave up 0.47% as the country reported 776 new cases of coronavirus infection, reviving fears of new health restrictions.

 

See Also

The dollar index is almost unchanged (-0.04%), but remains off its 20-year high reached last week. Against the yen, the dollar is slightly below the 24-year high of 139 yen also reached last week. The euro, meanwhile, rose 0.14 percent to $1.0155.

 

Oil prices, which gained nearly 5% on Monday, are alternating between slight increases and decreases, depending on concerns about supply and fears of a decline in demand.

 

 

Read also > EUROPEAN STOCK MARKETS CLOSE IN THE RED ON MONDAY

 

Featured photo : © QuoteInspector.com

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