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European stock markets were down on Wednesday, but are expecting a rebound on Friday. Concerns about the risk of accelerating inflation have been particularly acute in the UK, where consumer price index growth has more than doubled over the past year.
In the euro zone, inflation also accelerated slightly, but this time to a lesser extent. Indeed, at around 12 noon on Tuesday, the CAC 40 lost 0.88% to 6,297.75 points, and the Euro Stoxx 50 lost 1.03% to 3,963.92 points.
However, Tod’s Group gained more than 1% to 47.36 euros in Milan, buoyed by a statement from the boss of luxury group LVMH, Bernard Arnault. Speaking at the Financial Times Luxury Summit, Tod’s CEO Diego Della Valle said that LVMH’s decision in April to increase its stake in Tod’s from 3.2% to 10% could be seen as a message: “We want to stay together,” said the Italian businessman.
JCDecaux leads the SBF 120, rising 3.8% to €24.04 per share. The world’s leading outdoor advertising company generated revenues of €454.3 million in the first quarter of 2021. However, this was down 37.2% on last year’s figures, due to the continuing effects of the Covid-19 pandemic restrictions. However, these figures are still more optimistic than the expectations made by analysts, who were anticipating an even steeper decline of -41% to €426 million.
Details on inflation
Eurozone inflation was 1.6% in April, in line with market expectations.
In the US, investors are content with the weekly oil inventories at 4.30pm, before the Fed minutes at 8pm. At around midday on Wednesday, the euro was down 0.09% at $1.2212.
However, European stock markets, following the lead of US equities, are expecting a rebound on Friday and a return to higher values.
Read also > TOKYO STOCK EXCHANGE DOWN ON HEALTH CRISIS
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European stock markets were down on Wednesday, but are expecting a rebound on Friday. Concerns about the risk of accelerating inflation have been particularly acute in the UK, where consumer price index growth has more than doubled over the past year.
In the euro zone, inflation also accelerated slightly, but this time to a lesser extent. Indeed, at around 12 noon on Tuesday, the CAC 40 lost 0.88% to 6,297.75 points, and the Euro Stoxx 50 lost 1.03% to 3,963.92 points.
However, Tod’s Group gained more than 1% to 47.36 euros in Milan, buoyed by a statement from the boss of luxury group LVMH, Bernard Arnault.
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European stock markets were down on Wednesday, but are expecting a rebound on Friday. Concerns about the risk of accelerating inflation have been particularly acute in the UK, where consumer price index growth has more than doubled over the past year.
In the euro zone, inflation also accelerated slightly, but this time to a lesser extent. Indeed, at around 12 noon on Tuesday, the CAC 40 lost 0.88% to 6,297.75 points, and the Euro Stoxx 50 lost 1.03% to 3,963.92 points.
However, Tod’s Group gained more than 1% to 47.36 euros in Milan, buoyed by a statement from the boss of luxury group LVMH, Bernard Arnault.
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