A trader works at CMC Markets in the City of London
The main European stock markets are moving lower on Monday at the start of the session, despite the progress of the oil sector, still penalized by the solid data on American employment published on Friday which have removed the prospect of a new imminent drop in interest rates. the Federal Reserve.
In Paris, the CAC 40 lost 0.38% to 7,402.62 points around 08:15 GMT. In Frankfurt, the Dax fell 0.34% while the FTSE 100 lost 0.3%.
The EuroStoxx 50 index is down 0.59%, the FTSEurofirst 300 is down 0.43% and the Stoxx 600 is down 0.5%.
“Good news is bad news”: European markets continue to react to the publication of American employment for December on Friday, which revealed that the American economy had created 256,000 jobs against 160,000 expected by the consensus of analysts.
Investors have already reduced their expectations for rate cuts from the US Federal Reserve (Fed) to just 27 basis points for the full year 2025, confirming the Fed's view of a cautious bias.
These expectations, which are driving up bond yields, are also weighing on technology stocks. The compartment's Stoxx 600 index dropped 1.5%, the sharpest sectoral decline.
Conversely, oil stocks (+0.86%) benefit from the rise in crude prices after the new American sanctions against Russian oil which could affect Moscow's exports to China and India.
In Paris, TotalEnergies gained 0.7%, among the largest increases in the CAC 40.
BioMérieux advances by 4.7% after the announcement of an agreement to acquire the Norwegian start-up SpinChip Diagnostics while Eurazeo (+3.6%) is buoyed by an increase in the advice of Goldman Sachs to purchase.
(Written by Bertrand De Meyer and Blandine Hénault, edited by Augustin Turpin)
