PARIS, Sept. 16 (Reuters) – The main European stock markets rose at the start of the session on Thursday, benefiting from the momentum given the day before by Wall Street, a further sign of slowing inflation in the United States having rekindled the appetite for the risk even if the markets remain concerned about the fate of the Chinese real estate giant Evergrande.
In Paris, the CAC 40, which hit its lowest level since August 20 on Wednesday, gained 0.64% to 6,625.65 points at 07:50 GMT. In London, the FTSE 100 takes 0.42% and in Frankfurt, the Dax is up 0.59%. The EuroStoxx 50 index is up 0.72%, the FTSEurofirst 300 0.58% and the Stoxx 600 0.61%.
The American indices ended up sharply on Wednesday (+ 0.68% for the Dow Jones, + 0.85% for the Standard & Poor’s 500) after the announcement of the first drop in ten months in import prices in United States, deemed reassuring a week away from the Federal Reserve’s decisions. Futures contracts suggest an unchanged opening. Investors will watch monthly US retail sales figures and weekly retail sales statistics at 12:30 GMT.
However, the trend remains less promising in China due to the risk that the fall of Evergrande will have repercussions on the entire financial system. A subsidiary of the real estate group has requested a 24-hour suspension of the listing of its bonds, an approach seen by analysts as a new step towards default. Evergrande shares lost 7.12% at the end of the session in Hong Kong, where the Hang Seng index lost 1.5%.
In Shanghai, the SSEC Composite ended down 1.34%. In Europe, the almost general increase primarily benefited the transport and leisure sector, whose Stoxx index gained 2.4%, driven by Ryanair, which raised its long-term traffic forecast and gained 3, 73%, one of the best performances of the Stoxx 600. Lufthansa takes 1.29%, Air France-KLM 1.89%, Airbus 1.51%, the engine manufacturer Rolls Royce 2.88%.
In Paris, the most spectacular increase at the start of the session is for Lagardère, which jumped 20.47% after the announcement by Vivendi (-0.88%) of the repurchase of shares in the Amber Capital fund, a prelude to a takeover bid. On the downside, the German automotive supplier Continental fell 12.76%, the split of its subsidiary Vitesco Technologies being effective on Thursday.
(Report Marc Angrand, edited by Blandine Hénault)