The main European stock markets fell Thursday at the start of the session as investors digested the outlook on rates announced the day before by the American Federal Reserve (Fed), which said it only anticipated one drop in the cost of credit in 2024.
In Paris, the CAC 40 lost 0.27% to 7,843.13 points around 0728 GMT. In Frankfurt, the Dax fell 0.27% and in London, the FTSE 100 lost 0.10%.
The EuroStoxx 50 index is down 0.15%, the FTSEurofirst 300 is down 0.19% and the Stoxx 600, which closed up 1.2% on Wednesday, is down 0.25%.
European stock markets fell back into the red following the meeting of the American Federal Reserve (Fed), which plans to reduce its rates only once this year, compared to the three cuts initially expected in March.
The Labor Department reported Wednesday an unexpected stagnation in consumer prices in the United States in May, which had been considered reassuring by the markets, but according to the Fed inflation is moving more slowly than expected. 2% target.
Rising government bond yields are also weighing on equity markets.
Unsurprisingly, the American central bank also maintained the fed funds rate target at 5.25%-5.50% on Wednesday.
On the stock market, the real estate sector, sensitive to expectations about interest rates, fell by 0.68%.
In terms of values, the IT services company Atos is experiencing its third consecutive session in the red (-5.3%), at the lowest of the SBF 120 index. The group said on Thursday that it had initiated discussions on the financial restructuring proposal. submitted by the OnePoint consortium, David Layani’s company, which provides for significant dilution of existing shareholders.
In London, Wise fell 16%, to the lowest of the STOXX 600, the British money transfer company having forecast a slowdown in its turnover growth this year.
British manufacturer Crest Nicholson, which issued a warning on its annual results on Thursday and reported an 88% drop in its half-year profits, plunged 8.6%.
In Frankfurt, Lufthansa lost more than 5% after a note from JPMorgan which placed the stock on negative watch due to an expected drop in prices in the second quarter for long-haul flights operated by European airlines.
(Written by Diana Mandiá, edited by Blandine Hénault)
