European stocks bounce back, Company News

European stocks bounce back, Company News

PARIS, Sept 6 (Reuters) – Major European stock markets rose in early trade on Tuesday, boosted by higher market expectations on Wall Street, which took precedence over fears linked to the energy crisis and the risk of economic downturn.

In Paris, the CAC 40 gained 0.35% points to 6,114.29 at 07:45 GMT. In London, the FTSE 100 takes 0.48% and in Frankfurt, the Dax advances by 0.62%. The EuroStoxx 50 index rose by 0.44%, the FTSEurofirst 300 by 0.61% and the Stoxx 600 by 0.44%. Futures on major U.S. indexes are currently pointing to a rebound of 0.7% to 1% after a decline caused by mixed jobs data on Friday.

These expectations are currently being raised on tensions linked to rising energy prices and on the announcement of a faster-than-expected decline in industrial orders in Germany, the latest report so far. deterioration of the economic situation. Leading the rise, the distribution sector is benefiting from continued UK shares in sectors such as Marks & Spencer (+6.03%), fueled by hopes that the new British Prime Minister, Liz Truss, will quickly announce stimulus measures.

Below, the Stoxx energy index fell 1.03% and Brent fell. In company news, Volkswagen gained 3.09% and Porsche Holding 0.84% ​​after the official launch of the proposed IPO of the Porsche brand, which will be one of the largest European IPOs in recent years. In Paris, Renault takes 2.29%, the best performance of the CAC 40. The rest of the session will be updated among other things and published at 2:00 pm GMT of the ISM services index in the United States.

(Written by Marc Angrand)