PARIS, July 2 (Reuters) – European markets fell at the open on Tuesday as investors cautiously positioned themselves ahead of the release of euro zone inflation figures for June.
In Paris, the CAC 40 fell by 0.65% to 7,511.78 points at around 07:05 GMT. In Frankfurt, the Dax fell by 0.4%, compared to 0.37% for the FTSE in London.
The pan-European FTSEurofirst 300 index fell by 0.5%, the EuroStoxx 50 by 0.54% and the Stoxx 600 by 0.54%.
of 0.49%.
New York index futures suggest a lower opening for Wall Street, with the Dow Jones down 0.2%, compared with 0.24% for the Standard & Poor’s 500 and 0.34% for the Nasdaq.
Eurozone inflation for June will be released at 0900 GMT, a figure that is key to the conduct of monetary policy.
The consensus is for inflation to fall from 2.6% in May to 2.5% in June, although a narrower measure of price dynamics, which excludes alcohol, tobacco, food and energy, is still seen as high, at 2.8% year-on-year in June compared with 2.9% in May.
Any surprise in the indicator could cause a strong reaction from markets on the lookout for any new indication on the European economy.
In fact, the future trajectory of rates in the eurozone is uncertain, especially since the president of the European Central Bank, Christine Lagarde, declared on Monday at the Sintra forum that the institution was in no hurry to ease its monetary policy.
Christine Lagarde will speak again at 2:30 p.m., alongside her Federal Reserve counterpart, Jerome Powell.
The political uncertainty before the second round of legislative elections in France will also help to liven up the discussions.
In terms of values, Sodexo fell by 3.97% after reporting worse-than-expected third-quarter sales.
Teleperformance advances 4.04% after Morgan Stanley raised its recommendation on the group. (Written by Corentin Chappron, edited by Kate Entringer)
