PARIS, June 26 (Reuters) – The main European stock markets are trending upwards on Wednesday morning with the rebound of Nvidia which is driving the new technologies segment in Europe. In Paris, the CAC 40 rose 0.45% to 7,697.11 points around 07:50 GMT. In London, the FTSE 100 rose 0.38% and in Frankfurt, the Dax rose 0.88%. The EuroStoxx 50 index increased by 0.75%, the FTSEurofirst 300 by 0.53% and the Stoxx 600 by 0.58%. Futures contracts on Wall Street predict an increase of 0.05% for the Dow Jones, 0.20% for the Standard & Poor’s 500 and 0.38% for the Nasdaq the day after a session where the sector of technologies supported this last index. Nvidia recorded an increase of nearly 7% on Wall Street on Tuesday, ending three sessions of decline that wiped out around $430 billion in market capitalization. The European new technologies compartment gained 1.53%, with ASML (+1.03%), ASMI (+1.21%), and STMicroelectronics (+0.30%). Beyond the revival of stocks linked to artificial intelligence, investors are especially awaiting the publication on Friday of the PCE price index in the United States, the preferred measure of inflation by the American Federal Reserve. “The main trajectory on disinflation remains intact, but the last mile has been strewn with pitfalls and difficult to navigate,” notes Selena Ling, strategist at OCBC, referring to doubts about bringing inflation sustainably in the United States to 2 %. Several Fed officials, including Lisa Cook, urged patience on Tuesday regarding a reduction in key rates while the market currently anticipates a reduction of 47 basis points in rates this year, with a probability of 66% for a first relaxation in September. On the political front in France, where a debate of almost two hours took place on Tuesday evening between the three leaders of the main coalitions with a view to the legislative elections, the risk premium between the German Bund and the ten-year OAT is still at a high level, with a spread above 70 basis points. For some investors, a victory for the left alliance could represent a greater risk than that of the far right. In corporate news, Atos is volatile, now gaining 1.66% after a plunge of 8.1% at the opening. The group announced on Wednesday that it had received a revised global financial restructuring proposal from its creditors taking into account the end of discussions with Onepoint, Butler Industries and Econocom. Airbus, which fell on Tuesday due to lowering its targets, rebounded slightly, by 0.29%. Sources have indicated that the European plane maker is ready to take over all or part of the operations of four Spirit AeroSystems factories in an imminent deal. In London, AO World gained 3.0% after the group published an annual profit higher than forecasts, while Liontrust Asset Management fell 2.13% after reporting a 23% drop in its profit. annual. In the automobile industry, Volkswagen Group fell 0.56% after announcing its intention to invest up to five billion dollars in the American electric vehicle manufacturer Rivian. (Written by Claude Chendjou, edited by Blandine Hénault)
